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The purpose of this paper is to trace how and why the market-designed Libor benchmark turned bad, thereby necessitating a regulatory response.
Abstract
Purpose
The purpose of this paper is to trace how and why the market-designed Libor benchmark turned bad, thereby necessitating a regulatory response.
Design/methodology/approach
The study relies on primary and secondary data in the public domain and complemented by a single-case study.
Findings
The study demonstrates how and why Libor benchmark rigging led to reforms in the UK and elsewhere.
Research limitations/implications
The study relying mainly on the secondary data analysis needs to be enhanced by further empirical-based studies.
Practical implications
Insights generated by the study suggest why it might not be worthwhile for market participants to game the system.
Social implications
Libor benchmark affects the financial system widely with varying significance to the wider public. With better regulatory oversight, its negative impact is expected to be mitigated considerably.
Originality/value
The seriousness with which the enforcement agency and judiciary now treat financial crime weakens the earlier public perception that white-collar crime is enforced differently.
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Arthur Midwinter and Murray McVicar
Reviews the history of political and professional debates on theoptimum size of public library authorities in the UK. Discussesconclusions on size in the major legislation and…
Abstract
Reviews the history of political and professional debates on the optimum size of public library authorities in the UK. Discusses conclusions on size in the major legislation and reports on public library policy prior to local government reorganization in 1974. Considers the effects of the 1974 local government reorganization and examines the subsequent continuing debate. Concludes that in the light of further impending modification of the UK local government system, further research is required into the structure and size of a public library service.
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Lincoln G. Craton and Geoffrey P. Lantos
The purpose of this paper is to identify the causes and implications of potential negative consumer response to music in broadcast commercials. It aims to accomplish this by…
Abstract
Purpose
The purpose of this paper is to identify the causes and implications of potential negative consumer response to music in broadcast commercials. It aims to accomplish this by introducing a new consumer response variable, attitude toward the advertising music (Aam) and relating Aam's components to advertising goals. It also aims to propose that Aam is a significant component of attitude toward the ad (Aad).
Design/methodology/approach
The paper takes the form of an integrative review of the relevant literatures in the psychology of music, consumer marketing, and advertising to formulate Aam.
Findings
Favorable Aam is a necessary but insufficient condition for favorable Aad in ads employing music. Furthermore, a negative Aam might cause a negative Aad. Given the numerous possible negative responses to music in a TV or radio commercial, achieving a favorable Aam among most target audience members is very challenging, especially when music‐message fit is lacking.
Practical implications
The paper offers cautionary advice for advertisers using music and directions for future research.
Originality/value
The paper provides a novel integration of literatures in psychology and marketing/advertising. Whereas most scholars and practitioners assume that music adds value to commercials, the authors demonstrate key ways in which music can cause adverse listener reactions.
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A question of size THE Committee set up by the Minister of Education in 1957 to “consider the structure of the public library service in England and Wales, and to advise what…
Abstract
A question of size THE Committee set up by the Minister of Education in 1957 to “consider the structure of the public library service in England and Wales, and to advise what changes, if any, should be made n the administrative arrangements, regard being had to the relation of public libraries to other libraries,” was the first such since the Kenyon Committee which reported in 1927. One of the most controversial aspects of the Roberts Committee's deliberations was the consideration of the minimum size (in terms of population) of an independent library system.
The administration of teacher education is at present undergoing close scrutiny in several Western nations. In U.S.A., where most teachers are prepared to state‐determined…
Abstract
The administration of teacher education is at present undergoing close scrutiny in several Western nations. In U.S.A., where most teachers are prepared to state‐determined standards by universities, there are accusations that the accrediting associations are in the hands of an Establisliment which discounts academic courses and places a premium on orthodoxy. In England the recently introduced three‐year colleges are under fire and the Robbins Committee has recommended the award of degrees by Colleges of Education (the old training colleges) whose link with the universities will be strengthened. In Scotland teacher preparation remains separated from the universities, the Colleges of Education being Independent bodies co‐ordinated by a body of professional teachers — the Scottish Council for the Education of Teachers. In Australia, which has often followed Scottish example, it seems likely that teacher preparation, at present the responsibility of state education departments, will become the responsibility of the profession itself, as in Scotland.
Christine A. Grant, Louise M. Wallace and Peter C. Spurgeon
The purpose of this paper is to explore the impact of remote e‐working on the key research areas of work‐life balance, job effectiveness and well‐being. The study provides a set…
Abstract
Purpose
The purpose of this paper is to explore the impact of remote e‐working on the key research areas of work‐life balance, job effectiveness and well‐being. The study provides a set of generalisable themes drawn from the key research areas, including building trust, management style and the quality of work and non‐working life.
Design/methodology/approach
The paper is an exploratory study into the psychological factors affecting remote e‐workers using qualitative thematic analysis of eleven in‐depth interviews with e‐workers, across five organisations and three sectors. All participants worked remotely using technology independent of time and location for several years and considered themselves to be experts.
Findings
The paper provides insights into the diverse factors affecting remote e‐workers and produces ten emerging themes. Differentiating factors between e‐workers included access to technology, ability to work flexibly and individual competencies. Adverse impacts were found on well‐being, due to over‐working and a lack of time for recuperation. Trust and management style were found to be key influences on e‐worker effectiveness.
Research limitations/implications
Because of the exploratory nature of the research and approach the research requires further testing for generalisability. The emerging themes could be used to develop a wide‐scale survey of e‐workers, whereby the themes would be further validated.
Practical implications
Practical working examples are provided by the e‐workers and those who also manage e‐workers based on the ten emerging themes.
Originality/value
This paper identifies a number of generalisable themes that can be used to inform the psychological factors affecting remote e‐worker effectiveness.
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A comprehensive description of food law enforcement in England and Wales, Scotland and Northern Ireland is presented. The history of food law is described together with the…
Abstract
A comprehensive description of food law enforcement in England and Wales, Scotland and Northern Ireland is presented. The history of food law is described together with the probable consequences of future EEC legislation on the UK situation.
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IT IS EASY to make glib generalisations about the student situation in this country, and its associated problems, but a recondite analysis of student mores is much more difficult…
Abstract
IT IS EASY to make glib generalisations about the student situation in this country, and its associated problems, but a recondite analysis of student mores is much more difficult. Commentators tend to be extreme, varying from those who declaim ‘All for youth and the world well lost’ to those crying ‘Stop their grants, make them do a day's work’, and more in similar vein. An understanding of student attitudes to work and society is one thing, the cause and effect of their attitudes is quite another. What is certain is that there has been a radical change, and the full effects of this change are yet to be felt. Behind each new generation rise those ever ready to decry the follies of youth, but today there is a widespread and differing view held that youth is king, and can do no wrong. Both of these points of view are extreme, and both, in totality, are unjustified.
Les Ruddock and Steven Ruddock
The purpose of the paper is to assess the critical financial and economic issues associated with the provision of adequate housing in the UK in the face of current and future…
Abstract
Purpose
The purpose of the paper is to assess the critical financial and economic issues associated with the provision of adequate housing in the UK in the face of current and future demographic change.
Design/methodology/approach
The review is based on an investigation of the current state of preparedness of the housing market and its various stakeholders based on recent reports and secondary statistical evidence.
Findings
The findings emphasise the need for a multi-faceted approach to tackle the challenges that need to be addressed. Unless measures are initiated to influence the market, the requisite increase in the stock of appropriate housing in the face of rapid demographic change will not occur.
Originality/value
The value of the study is that it identifies the issues based on the current state of provision and makes recommendations for meeting the challenges arising from these issues. These recommendations have strong implications for policymakers and other stakeholders.
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After considering the search process and functions of index entries, a classification of entry types is offered, based on index term context, predominant term order, and…
Abstract
After considering the search process and functions of index entries, a classification of entry types is offered, based on index term context, predominant term order, and between‐term function words. Then a multiple entry generation scheme is described, comprising rules for term manipulation, input and output. After discussing access points and cross reference measures, a preliminary linguistic analysis is given, showing links with psycholinguistics. The study forms the basis of a current laboratory investigation (EPSILON) into a number of entry types.