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Social left-wing political contestation and activism in Spain have undergone great changes over the past four years. First, there has been a shift from the 15-M movement that took over public plazas with its ambiguous claims basically related to radical democracy and rejection of institutional politics, to a new focus on social problems generated by the crisis, highlighting issues such as housing and cutbacks in social rights. Second, there has been a shift towards institutional politics in 2014. How should this recent whirlwind evolution in political contestation to status quo be understood? What is the relation between the changing material conditions of the population and the extremely shifting shape of left-wing militancy in Spain? The paper aims to discuss these issues.

The arguments put forward here are based on the authors’ involvement in social movements in the city of Seville between 2011 and the current time. They have been complemented with in-depth interviews of social activists who have taken part in the movements: 15-M assemblies, the housing movement, general strikes and, in more recent times, electoral initiatives (Podemos and Ganemos). The interviews were done between 2012 and 2014. The fieldwork has been complemented with an exploration of documentary sources: the manifests and writings of the various organisations that are being addressed.

In the transition from 15-M assemblies to the recent shift in electoral initiatives, social protest have turned from direct democracy demands and the rejection of institutionalised politics to a progressively pragmatic and short-term position where institutions are targeted. This paper argues that the generalised impoverishment of the population, increased numbers of evictions and consistently high unemployment rates have broadened the social framework for the action of social movements. The political and ideological crisis, rooted in the majority of the population’s crumbling expectations of social progress has enabled the array of possibilities to be opened up to emancipatory politics.

It is argued that massive deprivation provoked by the economic crisis has been a fundamental factor in the movements’ new orientation, what as a consequence, and until certain extent, throws the New Social Movements discourses into crisis itself, at least with regard to its post-materialistic nature and its opposition to institutions of the State.

The purpose of this paper is to integrate classical elite theory into theories of constitutional bargains.

Qualitative methods/surveys/case studies.

Open-ended constitutional entrepreneurship cannot be forestalled. Constitutional entrepreneurs will almost always be social elites.

The research yields a toolkit for analysing constitutional bargains. It needs to be used in historical settings to acquire greater empirical content. Need to be applied to concrete historical cases to do economic history. Right now it is still only institutionally contingent theory.

Formal constitutions do not, and cannot, bind. Informal constitutions can, but they are continually evolving due to elite pressure group behaviors.

Liberalism needs another method to institutionalize itself!

Open-ended nature of constitutional bargaining overlooked in orthodox institutional entrepreneurship/constitutional economics literature.

The purpose of this paper is to explore the interaction between the economic and political imperatives of new monetarism. The breakdown of the global derivatives markets, which came into the spotlight during the 2008/2009 global debt crisis, brought up the issue of trust. The matter at hand is the loss of trust in investors' ability to make informed decisions, but trust in the self‐regulating capacity of open markets has also been seriously shaken.

Relying on Roche and McKee's analysis of the global financial crisis, the author emphasizes that new monetarism is not a new paradigm, but rather a result of economic circumstances. Although the growth of financial asset prices was indeed partly a result of the liberalization of financial markets, the decisive factor is to be found in the creation of new financial instruments. On the one hand, derivatives have drastically increased the “investment power” or “purchasing power” of money. However, on the other hand, derivatives are a form of under‐appreciated liquidity that creates bubble assets.

Over the last two decades, the value of global financial assets has grown much faster than the real economy in its background, which means that in the era of new monetarism, financial markets set the tone of the real economy. Consequently, in the eyes of investors, the crucial term becomes “liquidity”, rather than “real economy”. As disinflation multiplied the value of financial assets, central banks progressively lost control of money. Players in financial markets that had increasing trust in cheap money started to introduce new forms of money, which allowed them to create liquidity, independently of the central bank. It has been shown that the quantity and cost of money available for investment can be frozen up to a point where it threatens the global financial system.

Networks for promoting social responsibility of the corporate sector, which more and more tightly cover our small planet, wish to make transparent the connections between corporate leaders, politicians and organizations to which they are connected. Their members conduct research with the aim of making the invisible power of money visible.

New financial democracy in the post‐modern era presupposes financially literate citizens, which without a doubt presents a challenge for education systems, which will evidently have to incorporate a new, crucial form of literacy, in addition to linguistic, mathematical and computer literacy – financial literacy.

Although only a small percentage of the world's population has access to the Web, its influence over the world economy and society is very high. It is possible to imagine a completely different economy from the industrial one, but the potential of information and communications technology constitutes a challenge for traditional economic thought. This paper explores the characteristics of the information society and the global economy from the perspective of the developing countries of Latin America, and the potential of the digital economy to transform social relationships both universally and locally. As Latin America is about to start its third century of political autonomy, the digital revolution provides a new opportunity to articulate that freedom of action and to exercise alternative strategies.

It is now fashionable to suggest that the Celtic regions of the United Kingdom are the internal colonies of the central English state and that they have been, particularly since the rapid industrialization of the nineteenth century, subject to a penetrating anglicization of their culture and institutions. In terms of the internal colonialism thesis, it can be argued that the cultural nationalism of Scotland which was developed in the nineteenth century was an attempt to maintain the distinctiveness of civil society in Scotland in the context of massive regional economic imbalance. The Scottish intelligentsia, dominated by Edinburgh lawyers and Presbyterian ministers, can thus be compared with the intelligentsia of Third World societies undergoing a process of de‐colonization where separate cultural identities have to be preserved or, if necessary, constructed.

This study aims to advance a sub-national perspective within the OLI Paradigm by analyzing how and to what extent the Eclectic Paradigm can serve as a general model to capture region-specific aspects of the location determinants of FDI, encompassing institutional effects that extend beyond the quality of institutions.

The authors conducted a systematic literature review of 41 selected papers published between 1990 and 2019. Using inductive content analysis, they investigated the theoretical choices used to support analyses of the effects of institutional factors on MNEs' location decisions at the sub-national level.

It was found that, when changing from the national to the sub-national level of analysis, there is no need to change the main assumptions used in the literature, although a different perspective must be adopted. The Eclectic Paradigm permeates most of the studies revised and can serve as a general model to capture the sub-national perspective. It offers a foundation for new perspectives on the dynamics of institutional and political factors and their effects on location strategies and determinants at the sub-national level. Adopting the OLI Paradigm with a sub-national approach could widen the IB literature's prevailing focus on traditional economic factors and institutional quality.

The authors contribute to extant International Business literature Their paper enhances the literature on FDI location determinants by providing a more specific approach to development of a sub-national perspective within the OLI Paradigm, extending the institutional effects to capture more region-specific factors influencing the location of FDI. Study limitations are related to our analytical focus on the location dimension, excluding motives for FDI or firm-level location strategies. Rather than limiting analysis to quantitative studies, future research that includes qualitative studies and also covers the other dimensions of the OLI Paradigm could open additional new research avenues for advancing the sub-national perspective within the field of IB.

The authors’ main findings suggest that MNEs' location strategies should include a sub-national perspective, which means that firms need to assess different levels of the location and understand their interaction with nationwide constraints and limitations, as it may affect firms' ability to effectively conduct their value-adding activities. They also contribute elements that can support sub-national governments' actions and policies aiming to enhance locational advantages to attract and retain FDI.

This review specifically analyzes the location determinants of FDI at the sub-national level, in studies published in a broad set of journals, from a variety of fields, prioritizing articles that investigate sub-national institutional determinants. The authors derive implications for the International Business literature and propose that the sub-national dimension should be incorporated into the Eclectic paradigm in order to better understand the influence of institutional sub-national determinants.

The Foreign Corrupt Practices Act (FCPA) of 1977 and its amendment – the Trade and Competitive Act of 1988 – are unique not only in the history of the accounting and auditing profession, but also in international law. The Acts raised awareness of the need for efficient and adequate internal control systems to prevent illegal acts such as the bribery of foreign officials, political parties and governments to secure or maintain contracts overseas. Its uniqueness is also due to the fact that the USA is the first country to pioneer such a legislation that impacted foreign trade, international law and codes of ethics. The research traces the history of the FCPA before and after its enactment, the role played by the various branches of the United States Government – Congress, Department of Justice, Securities Exchange commission (SEC), Central Intelligence Agency (CIA) and the Internal Revenue Service (IRS); the contributions made by professional associations such as the American Institute of Certified Public Accountants (AICFA), the Institute of Internal Auditors (IIA), the American Bar Association (ABA); and, finally, the role played by various international organizations such as the United Nations (UN), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the International Federation of Accountants (IFAC). A cultural, ethical and legalistic background will give a better understanding of the FCPA as wll as the rationale for its controversy.

This study aims to investigate how ownership structure and bank regulations individually and interactively influence risk-taking behaviour of a bank.

This empirical framework is based on dynamic two-step system generalised method of moments estimation technique to analyse an unbalanced panel data set covering 144 conventional banks from 12 Middle East and North Africa (MENA) countries.

The estimation results suggest that foreign shareholding has an inverse relationship with bank risk-taking. In addition, official supervisory power is found to have a positive association with bank risk, and this relationship is reinforced for banks with higher ownership concentration. In addition, capital stringency increases bank risk, whereas market discipline has an opposite effect, only in countries with higher activity restrictions. Finally, the interaction between ownership concentration and activity restriction has an inverse association with bank risk-taking.

Overall, the evidence suggests that the Basel II framework and the regulatory reform initiatives in the post-global financial crisis period do not seem to have reduced bank risk-taking in MENA countries.

This study contributes to the literature on the effectiveness of regulatory reform based on the three pillars of the Basel II guidance (capital regulations, market-oriented disclosures and official supervisory power), and offers evidence in support of “political/regulatory capture hypothesis” of bank regulation. The results also provide support for “global advantage hypothesis” of bank ownership.

We outline the history of a distinct accounting standard for charities. It charts the development of the first charity SORP and its subsequent failure. The paper explains the development of the current second charity SORP, and reviews three philosophical schools of accounting ‐ positivism, interpretive and critical. We critique how each perspective would define the SORP’s development. We conclude that all three philosophies provide a context which validates the purpose of the new charity accounting statement and subsequent regulation. The interpretative school, however, provides fusion between theory and current professional practice.