Search results
1 – 10 of over 93000The subject of part‐time work is one which has become increasingly important in industrialised economies where it accounts for a substantial and growing proportion of total…
Abstract
The subject of part‐time work is one which has become increasingly important in industrialised economies where it accounts for a substantial and growing proportion of total employment. It is estimated that in 1970, average annual hours worked per employee amounted to only 60% of those for 1870. Two major factors are attributed to explaining the underlying trend towards a reduction in working time: (a) the increase in the number of voluntary part‐time employees and (b) the decrease in average annual number of days worked per employee (Kok and de Neubourg, 1986). The authors noted that the growth rate of part‐time employment in many countries was greater than the corresponding rate of growth in full‐time employment.
The purpose of this paper is to investigate the determinants of the timing of bank failure in North Cyprus over the period of 1984‐2002 using a discrete‐time logistic survival…
Abstract
Purpose
The purpose of this paper is to investigate the determinants of the timing of bank failure in North Cyprus over the period of 1984‐2002 using a discrete‐time logistic survival analysis.
Design/methodology/approach
The empirical methodology employed in the paper allows for the determination of the factors that influence the time to bank failure. The model links the time of bank failure to a set of bank‐specific factors and macro‐environment that may have exacerbated the internal troubles of the financial institutions.
Findings
An empirical examination of the results on survival analysis reveal that the three variables, namely: low asset quality (total loan as a percentage of total assets), low liquidity (total liquid asset as a percentage of total assets), and high credit extended to the private sector (ratio of the private credit to gross domestic product) are the main factors that explain the survival time of banks in North Cyprus.
Research limitations/implications
For further research this paper may better distinguish time to bank failure if it extends the time period and if it uses exchange pressure from Turkey that may have a direct effect on bank failure in North Cyprus.
Practical implications
Nowadays bank failure is an important problem in the world. Using time technique to investigate bank failure will help to learn the factors that determine time to bank failure, which will further help to take precautions and prevent the cost of bank failure.
Originality/value
The analysis would appear to be the first to provide evidence and investigate the time to bank failure in the North Cyprus banking sector.
Details
Keywords
Effie Amanatidou, Giorgos Gritzas and Karolos Iosif Kavoulakos
The purpose of this paper is to analyse the emergence, operation and features of the time banks that were created during the recent financial crisis in Greece as grass-roots…
Abstract
Purpose
The purpose of this paper is to analyse the emergence, operation and features of the time banks that were created during the recent financial crisis in Greece as grass-roots initiatives of different communities, and to examine their relation to the concept of “co-production” and possible relevance to foresight. Time banks are particularly interesting for the future of services: they address all sorts of services while the time-bank “value” of these different types of services does not necessarily reflect their actual value in the free market; impacts may spread from the mere coverage of people’s needs, to increased social capital and community empowerment; and some scholars consider them as flexible forms of co-production, or even as enablers of wider social change. The purpose of the paper is to examine the emergence, and features of the time banks created during the recent financial crisis in Greece as grass-roots initiatives.
Design/methodology/approach
Primary information and data were gathered through eight extensive face-to-face interviews with key members of the four time banks based on a semi-structured questionnaire. The methodology also included desk research and review of the information included in time banks’ websites. The selection of these four time banks was based on the fact that they are the most active ones in Athens, which is the capital of the country gathering around 40 per cent of the Greek population and presenting the severest consequences of the financial crises in terms of unemployment, poverty, shutdown of businesses, share of people with no insurance, etc.
Findings
Based on a specific analytical framework summarising the available literature, the Greek time banks are compared with each other but also in relation to the findings in the literature, where some interesting differences emerge. The paper also explores the role that foresight can plan in the development of alternative initiatives like time banks. The interesting conclusion is that foresight can help time banks as much as time banks can help foresight in upgrading its processes to deal with challenges of the twenty-first century.
Research limitations/implications
The research focuses on the four most active time banks in Athens. While this selection is justified, future research would be good to include all the time banks in Greece.
Social implications
The paper explores how time banks in Greece emerged as well as how they can further develop. This is of direct relevance to society as time banks are by default a community initiative.
Originality/value
Time banks in Greece have not been previously studied. Second, time banks in general were never linked to approaches like foresight. This becomes increasingly important in examining possible approaches toward more sustainable and resilient societies.
Details
Keywords
The paper aims to improve understanding of the UK policy context for the social economy and thereby increase policy effectiveness in promoting the sector.
Abstract
Purpose
The paper aims to improve understanding of the UK policy context for the social economy and thereby increase policy effectiveness in promoting the sector.
Design/methodology/approach
First the term “social economy” is discussed and defined. Then the range of policy responses to the social economy is reviewed. The interface between the social economy and policy is examined in detail using a case study initiative: time banks, a type of community currency which uses time as money.
Findings
UK government policy responds very positively to the social economy, viewing it as a potential provider of social cohesion, public service delivery, and sustainable development. However, the time bank case study reveals that existing social policy on work and employment is a barrier to realising the potential of the sector.
Practical implications
Proposals to overcome these policy barriers are suggested: they share the approach of redefining “work” and valuing and rewarding unpaid community efforts in the social economy.
Originality/value
The social economy is attracting increasing policy attention, but there is little empirical research in this area. This paper presents a review of existing policy and examines the impacts of policy in the social economy.
Details
Keywords
The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and…
Abstract
The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.
Details
Keywords
There is hardly any other field of knowledge where there is moreconflict or controversy between ideas and solutions proposed bytheoreticians and statesmen than in politics. To…
Abstract
There is hardly any other field of knowledge where there is more conflict or controversy between ideas and solutions proposed by theoreticians and statesmen than in politics. To date, adequate methodological tools have not been developed which enable the truth or validity of the liberal or conservative approaches to be tested. A new research programme using a simultaneous equilibrium versus disequilibrium approach is proposed which has full application in politics as well as in economics and the social sciences. This research programme shows the organic relationship between society, state, economy, money and form of government, and thus leads to a methodological unification of all the social sciences, to a new principia politica.
Details
Keywords
John Cheese, Abby Day and Gordon Wills
An updated version of the original (1985) text, the book covers all aspects of marketing and selling bank services: the role of marketing; behaviour of customers; intelligence…
Abstract
An updated version of the original (1985) text, the book covers all aspects of marketing and selling bank services: the role of marketing; behaviour of customers; intelligence, planning and organisation; product decisions; promotion decisions; place decisions; price decisions; achieving sales. Application questions help to focus the readers' minds on key issues affecting practice.
Galina Hale and João A.C. Santos
This paper aims to analyze how banks transmit shocks that hit the debt market to their borrowers. Recent financial crisis demonstrated that the banking system can be a pathway for…
Abstract
Purpose
This paper aims to analyze how banks transmit shocks that hit the debt market to their borrowers. Recent financial crisis demonstrated that the banking system can be a pathway for shock transmission.
Design/methodology/approach
Bank-level panel regressions.
Findings
This paper shows that when banks experience a shock to the cost of their bond financing, they pass a portion of their extra costs or savings to their corporate borrowers. While banks do not offer special protection from bond market shocks to their relationship borrowers, they also do not treat all of them equally. Relationship borrowers that are not bank-dependent are the least exposed to bond market shocks via their bank loans. In contrast, banks pass the highest portion of the increase in their cost of bond financing to their relationship borrowers that rely exclusively on banks for external funding.
Research limitations/implications
These findings show that banks put more weight on the informational advantage they have over their relationship borrowers than on the prospects of future business with these borrowers. They also show a potential side effect of the recent proposals to require banks to use CoCos or other long-term funding.
Originality/value
The findings are timely, given the ongoing debates on the proposals to introduce bail-in programs and proposals to require banks to use CoCos or other long-term funding.
Details
Keywords
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…
Abstract
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
Details
Keywords
Hubert Janos Kiss, Ismael Rodriguez-Lara and Alfonso Rosa-Garcia
The purpose of this paper is to analyze how response time in a laboratory experiment on bank runs affects withdrawal decisions.
Abstract
Purpose
The purpose of this paper is to analyze how response time in a laboratory experiment on bank runs affects withdrawal decisions.
Design/methodology/approach
In the authors’ setup, the bank has no fundamental problems, depositors decide sequentially whether to keep the money in the bank or to withdraw, and they may observe previous decisions depending on the information structure. The authors consider two levels of difficulty of decision-making conditional on the presence of strategic dominance and strategic uncertainty. The authors hypothesize that the more difficult the decision, the longer is the response time, and the predictive power of response time depends on difficulty.
Findings
The authors find that response time is longer in information sets with strategic uncertainty compared to those without (as expected), but the authors do not find such relationship when considering strategic dominance (contrary to the hypothesis). Response time correlates negatively with optimal decisions in information sets with a dominant strategy (contrary to the expectation) and also when decisions are obvious in the absence of strategic uncertainty (in line with the hypothesis). When there is strategic uncertainty, the authors find suggestive evidence that response time predicts optimal decisions.
Research limitations/implications
Being a laboratory experiment, it is questionable if depositors in real life behave similarly (external validity).
Practical implications
Since episodes of bank runs are characterized by strategic uncertainty, the result that under strategic uncertainty, longer response time leads to better decisions suggests that suspension of convertibility is a useful tool to curb banking panics.
Originality/value
To the best of authors’ knowledge, this is the first study concerning the relationship between response time and the optimality of decisions in a bank-run game.
Details