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Article
Publication date: 8 January 2018

DeokJong Jeong and Sunyoung Park

The purpose of this paper is to empirically analyze the effect of the increasing connectedness among financial institutions in the Korean financial market, as it affects…

Abstract

Purpose

The purpose of this paper is to empirically analyze the effect of the increasing connectedness among financial institutions in the Korean financial market, as it affects the market microstructure in the stock market. Thus this work, first, analyzes the trend and characteristics of connectedness in the Korean financial sector. This work then demonstrates the impacts of connectedness on volatility and price discovery in the stock market.

Design/methodology/approach

The entire Korean financial sector is analyzed from January 1990 to July 2015, including the periods of the 1997 Asian crisis and the 2007/2008 global financial crisis. This paper quantifies the connectedness between financial institutions using network methodology. Densely connectedness specifically refers to the cases in which a node experiences strong-lagged return spillover from and/or to itself.

Findings

Connectedness is established as an important determinant of stock price discovery. This paper illustrates that connectedness increases on significant economic events such as the 1997 Asian crisis and the 2007/2008 global financial crisis. Furthermore, this paper demonstrates that the more densely connected a particular financial institution, the more volatile the stock price and the less accurate the stock price quality.

Research limitations/implications

Understanding the financial system from a network perspective has been on the rise after the 2007/2008 global financial crisis. This work helps regulators and policy makers understand the full implications of introducing new policies that can more closely connect financial institutions.

Originality/value

This paper precisely captures financial institutions’ connectedness by including all types of financial institutions at the micro level. Additionally, this paper links connectedness to market microstructure in the stock market.

Details

Managerial Finance, vol. 44 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 1996

Ian M. Marshall Graham Logan, Richard Callison and Malcolm Dobson

Reviews the growth of TayNet, a local service provider which was established to support the development of businesses in Tayside by providing local access to the Internet…

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479

Abstract

Reviews the growth of TayNet, a local service provider which was established to support the development of businesses in Tayside by providing local access to the Internet. Describes the computer, communication and software components of the TayNet Point of Presence along with the technical and end‐user evaluation of the pilot phase. Provides sample performance figures along with connection statistics for 45 active participants during an audit week. Describes technical problems experienced and end‐user requested features and end‐user perceptions and opinions of TayNet and the Internet.

Details

Internet Research, vol. 6 no. 1
Type: Research Article
ISSN: 1066-2243

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Book part
Publication date: 17 September 2014

Laura I. Spears and Marcia A. Mardis

The purpose of this study was to determine the extent to which academic researchers consider the relationship between broadband access and children’s information seeking…

Abstract

Purpose

The purpose of this study was to determine the extent to which academic researchers consider the relationship between broadband access and children’s information seeking in the United States. Because broadband has been cited as an essential element of contemporary learning, this study sought to identify gaps in the attention given to the role of broadband in the information seeking environment of youth.

Approach

The researchers conducted a mixed method synthesis of academic research published in peer-reviewed journals between 1991 and 2011 that reported the information seeking of children aged 5–18 years. Quantitative and qualitative data were gathered from leading databases, analyzed separately, and conclusions drawn from integrated results.

Results

The results of this study indicated that broadband is rarely considered in the design of children’s information seeking published in peer-reviewed research journals. Only 15 studies showed any presence of broadband in study design or conclusions. Due to the small number of qualifying studies, the researchers could not conduct the synthesis; instead, the researchers conducted a quantitative relationship analysis and qualitative content analysis.

Practical implications

Given the focus of policymaking and public discussion on broadband, its absence as a study consideration suggests a crucial gap for scholarly researchers to address.

Research limitations

The data set included only studies of children in the United States, therefore, findings may not be universally applicable.

Originality/value

Despite national imperatives for ubiquitous broadband and a tradition of information seeking research in library and information science (LIS) and other disciplines, a lack of academic research about how broadband affects children’s information seeking persists.

Details

New Directions in Children’s and Adolescents’ Information Behavior Research
Type: Book
ISBN: 978-1-78350-814-3

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Article
Publication date: 16 August 2011

Dieter Gramlich and Mikhail V. Oet

Lessons from the most recent financial crisis show specific vulnerabilities of financial markets due to weaknesses in the structure of the financial system (structural…

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2024

Abstract

Purpose

Lessons from the most recent financial crisis show specific vulnerabilities of financial markets due to weaknesses in the structure of the financial system (structural fragility). As the literature points out, the impact of systemic risk can be closely related to issues of concentration (“too big to fail”) and dependency (“too connected to fail”). However, different structural variables are emphasized in various ways, and most authors analyze each variable separately. This raises the questions of how structural fragility, as a cause of systemic distress, can be assessed more comprehensively and consistently, and what the implications are for modeling it within an integrated systemic risk framework. This paper seeks to address these issues.

Design/methodology/approach

On the basis of theoretical considerations and in the light of current transformations in financial markets, this paper explores elements of structural fragility and the requirements for modeling them.

Findings

The paper suggests an extended approach for conceptualizing structural fragility, evaluates directions for quantifying structural issues in early warning systems (EWSs) for systemic crises, and lays a theoretical groundwork for further empirical studies.

Originality/value

The need for supervisory actions to prevent crises is urgent, as is the need for integrating structural aspects into EWSs for systemic financial crises. Since a significant aspect of a financial firm's risk comes from outside the firm, individual institutions should understand and monitor the structural aspects of the various risk networks they are in.

Details

The Journal of Risk Finance, vol. 12 no. 4
Type: Research Article
ISSN: 1526-5943

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Book part
Publication date: 19 August 2015

Anne Bowers

The growth of research on the cognitive origins of market performance has focused on the impact of categories as a primary cognitive mechanism by which exchange occurs. In…

Abstract

The growth of research on the cognitive origins of market performance has focused on the impact of categories as a primary cognitive mechanism by which exchange occurs. In this research, performance outcomes are typically reduced when firms and products fail to meet audiences’ expectations about membership into categories. The ensuing literature has focused on spanning categories as evidence of not meeting audience expectations while largely ignoring the specific study of expectations themselves. This chapter argues that expectations for market behavior are important in their own right, and can impact market outcomes even when categorical boundaries are respected. Using the market for engagement rings as a setting, I show how lack of adherence to expectations can both increase and decrease market value even as the engagement rings adhere to categorical boundaries. Rather than simply focusing on category spanning as evidence that audience expectations have not been met, the findings suggest that expectations should be considered explicitly, with implications for competitive strategy.

Details

Cognition and Strategy
Type: Book
ISBN: 978-1-78441-946-2

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Expert briefing
Publication date: 5 December 2016

Banks' response to limited growth and profitability from restrictions on growing their credit card businesses.

Details

DOI: 10.1108/OXAN-DB216439

ISSN: 2633-304X

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Geographic
Topical
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Article
Publication date: 4 December 2018

Sigmund Wagner-Tsukamoto

Revisiting Carroll’s classic corporate social responsibility (CSR) pyramid framework, this paper aims to evolve a novel synthesis of ethics and economics. This yielded an…

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1588

Abstract

Purpose

Revisiting Carroll’s classic corporate social responsibility (CSR) pyramid framework, this paper aims to evolve a novel synthesis of ethics and economics. This yielded an “integrative CSR economics”.

Design/methodology/approach

This theory paper examined how to conceptually set up CSR theory, argue its ethical nature and establish its practical, social and empirical relevance. Economic analysis reached out from contemporary institutional economics to Smith’s classic studies.

Findings

The paper reconstructed all of Carroll’s four dimensions of CSR – economic, legal, ethical and philanthropic responsibilities – through economics. The paper discounted a core assumption of much CSR research that economic approach to CSR, including the instrumental, strategic “business case” approach to CSR, were unethical and lacked any foundations in ethics theory. Integrative CSR economics reframes research on viability and capability requirements for CSR practice; redirecting empirical research on links between CSP (corporate social performance) and CFP (corporate financial performance).

Research limitations/implications

The paper focused on Carroll as the leading champion of CSR research. Future research needs to align other writers with integrative CSR economics. Friedman or Freeman, or the historic contributions of Dodd, Mayo, Bowen or Drucker, are especially interesting.

Practical implications

The paper set out how integrative CSR economics satisfies the “business case” approach to CSR and develops practical implications along: a systemic dimension of the market economy; a legal-constitutional dimension; and the dimension of market exchanges.

Social implications

Integrative CSR economics creates ethical benefits for society along: a systemic dimension of the market (mutual gains); a legal-constitutional dimension (law-following); and the dimension of market exchange (ethical capital creation). Social benefits are not only aspired to but also are achievable as a business case approach to CSR is followed.

Originality/value

The paper’s main contribution is a new synthesis of economics and ethics that yields an “integrative CSR economics”.

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Article
Publication date: 22 October 2020

Tom Montgomery and Simone Baglioni

This article seeks to answer the question: how should we conceptualise the “gig economy”? In doing so the authors shall explore if gig economy work should be understood as…

Abstract

Purpose

This article seeks to answer the question: how should we conceptualise the “gig economy”? In doing so the authors shall explore if gig economy work should be understood as a novel concept that stands alone, a concept that is a subtype, or whether it may in fact be conceptually redundant.

Design/methodology/approach

The authors conduct a thematic analysis of interview data drawn from 27 interviews with policymakers, trade union officials, key figures within labour organisations and gig economy workers.

Findings

The authors reveal how, from the perspective of key stakeholders, the concept of the gig economy exhibits a lack of “differentiation” from the long-established concept of precarious work of which it is best understood as a subtype.

Research limitations/implications

The empirical findings from the authors’ study should be regarded as limited in terms of being situated in the specific employment context of the UK. Nevertheless, the implications of the study have a broader reach. The authors seek to provoke debate and discussion among scholars across disciplines and contexts working in the areas of precarious work and the gig economy. The authors’ analysis will be of interest to scholars who are concerned with how they conceptualise “new” forms of work.

Originality/value

The analysis offers a novel intervention by revealing how key stakeholders perceive the gig economy through a prism of continuity rather than change and connect it with broader processes of precarity.

Details

International Journal of Sociology and Social Policy, vol. 41 no. 9/10
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 2 October 2007

Anthony H. Normore, Louie Rodriguez and Joan Wynne

“If you have come to help me, you are wasting your time, but if you have come because your liberation is bound with mine, then come, let's work together”. These words of…

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1245

Abstract

Purpose

“If you have come to help me, you are wasting your time, but if you have come because your liberation is bound with mine, then come, let's work together”. These words of Lill Watson, an indigenous activist, frame the context for this article. The purpose of this research was to examine the historical evolution of “grassroots movement leadership” model and its incarnation in the present time. A corollary purpose focused on how this model can transform urban schools by focusing on “movement” efforts of one large urban school district that espouses the values of this form of leadership. As part of a larger reform effort, the district engaged students, parents, teachers, school leaders and communities in becoming equal partners in urban school reform in an effort to co‐create schools and communities that might lead all of us toward liberation and learning.

Design/methodology/approach

Theory and practice come together through the lens of three researchers who operate from a similar philosophical stance for educational transformation, best described in the words of grassroots leader Ella Baker, who said, “We are the people we have been waiting for”. Qualitative research procedures (i.e. interviews, field notes and observations) were used to generate data on a “movement model” for grassroots leadership. This model is best demonstrated in various youth‐oriented initiatives (i.e. Student Exhibits, Action‐Research Projects, Algebra Project) within a local urban school district. This model, influenced by Civil Rights legend Robert Moses, has implications for educational leadership and urban school reform and simultaneously grounds our scholarship and research in liberation epistemology.

Findings

It is argued that children are often the victims of ideas, structures, and actions that come to be seen by the majority of people as wholly natural, preordained, and working for their own good, when in fact they are constructed and transmitted by powerful minority interests to protect the status quo that serves those interest. The words of Ella Baker epitomize the authors' struggles to steer away from models of hierarchal leadership in education and stay connected to the practice of excavating community wisdom through the “Movement Model”.

Originality/value

This study bears a substantive argument for community leadership efforts that focus on “grassroots leadership”. It further fosters new insights and propositions for future research in the form of a “Movement Leadership Model”.

Details

Journal of Educational Administration, vol. 45 no. 6
Type: Research Article
ISSN: 0957-8234

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Article
Publication date: 25 May 2012

Alistair R. Anderson, Sarah Drakopoulou Dodd and Sarah L. Jack

The purpose of this paper is to consider why entrepreneurship theorising has become fragmented and how the research problem might be resolved.

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6113

Abstract

Purpose

The purpose of this paper is to consider why entrepreneurship theorising has become fragmented and how the research problem might be resolved.

Design/methodology/approach

The authors first examine how entrepreneurial constructs reflect only part of what we “mean” by the construct to argue that we use different social constructions. This explains why theories are fragmented. But the authors then ask how we might use and reconcile this diversity, pointing to the utility of the constructs as part of a complex whole. The authors discuss entrepreneurship as a complex adaptive system showing how connections and relatedness help explain the power of entrepreneurship to use and adapt to change.

Research implications

The authors' proposition of entrepreneurial endeavours as a complex adaptive system provides a fresh theoretical platform to examine aspects of entrepreneurship and improve theorising.

Practical implications

The authors argue that this idea of connecting can also be used at the level of practice – how the connections that entrepreneurs use may help to explain some of what goes on in entrepreneurial practice.

Originality/value

The paper's contribution is a relatively novel way of connecting diverse theorising.

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