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Purpose – To study the allocation in equity markets of sovereign wealth funds’ (SWF) investments with respect to other institutional investors. To analyze the role of political regimes in the sending and recipient countries as a determinant of the allocation of SWF investments.

Methodology/approach – We use mutual funds’ investments as a benchmark for SWF investment allocations. We collect data of SWF and mutual fund equity investments at the firm level and analyse them on a geographical and sector basis. We compare target investments for these two groups by looking at the political regime in the sending and recipient country, using different political indicators (Polity IV, Bertelsmann). We provide a comparison of SWFs and pension funds based on governance features related to investment.

Findings – We find that the fear that sovereigns with political motivations use their financial power to secure large stakes in OECD countries is not confirmed by the data. SWF investment decisions do not differ greatly from those of other wealth managers. Although there can be differences in the allocation, political regimes in the recipient countries do not play a role in explaining the allocation of sovereign wealth funds.

Social implications – Investment from public institutions, such as sovereign wealth funds, can have significant implications at the economic and social level. Sovereign funds are potential sources of capital for emerging economies, and therefore can enchance economic growth. It is important to understand to what extent public institutional investors behave differently from private investors. The “political bias” is not a relevant factor for sovereign funds, or for other institutional investors, for allocating their capital. More often than not, their asset allocation strategies converge with other large investors, these being driven by financial and not political bias.

Originality/value of the chapter – The chapter is an original contribution providing a firm-level analysis of equity holdings for two groups of institutional investors. Moreover, it emphasizes the political dimension of institutional investments, highlighting the priorities and constraints of public investors participating in financial markets. The chapter suggests that SWFs do not discriminate by the political regime of the recipient country in their asset allocation.

To explain the benefits and the regulations pertaining to Jersey as a domicile for investment funds.

Provides an overview of Jersey as an international financial center followed by a detailed description of Jersey regulations applying to private funds, expert funds, listed funds, regulated investor funds, retail and other collective investment funds (CIFs), and notification-only funds. Explains fund vehicles including unit trusts, limited partnerships, and companies. Discusses taxes and fund service providers.

Jersey is one of the world’s major international finance centers, offering location and time-zone benefits; stability and reliability; tax neutrality; a stable political, fiscal and regulatory infrastructure; and highly-skilled financial-service providers.

Expert guidance from experienced investment-funds lawyers

To describe the broad range of reform initiatives that has been undertaken in response to a series of mutual fund scandals that have become apparent starting in 2003. This is the second of a two‐part article. The first part, in Volume 7, Number 1, is a chronology of developments related to the fund scandals since 1 January 2003.

Describes SEC reforms, including governance reforms; compliance reforms; SEC‐directed expanded disclosure regarding fund expenses and costs; reforms with respect to share distribution practices; reforms addressing market timing, selective disclosure, and fair value pricing; other reform initiatives including codes of ethics for investment advisers and a requirement that hedge fund advisers register with the SEC; an enhanced surveillance and inspection program for mutual funds; and enforcement activities. Describes private civil suits brought against fund companies, legislative proposals, the roles of NASD and New York State Attorney General Eliot Spitzer, the development of “best practices” guides by industry groups, and measures being promoted by institutional investors.

A broad range of reform initiatives has been undertaken by the SEC; NASD; and the New York, Massachusetts, and California Attorneys General. Both the US House of Representatives and the Senate have held hearings and proposed legislation, which at the moment appears dormant. Independent directors of only one mutual fund have been implicated in the trading abuse scandals. Hundreds of private civil lawsuits have been brought by fund shareholders against fund groups but virtually none has resulted in substantial restitution to plaintiffs.

A detailed and comprehensive analysis of reform initiatives in response to mutual fund scandals since 2003.

The development of the ResIDe Electronic Library at the University of the West of England, Bristol, is traced from its origins as an eLib funded research project. Different aspects of the system are analysed through their potential to increase economy, efficiency and effectiveness in library services. This analysis is related to the utility that it can provide to differing sponsors and the likelihood of their making supporting resources available. While economy and efficiency are relatively easy concepts to define and use, effectiveness can be both contested and multifaceted, varying in accordance with both subjective preference and interests represented. Competing views of effectiveness needed to be balanced whilst emphasising those aspects of the system that would appeal to senior UWE management in a time of the rising “audit society” in higher education.

The aim of this paper is to evaluate the coherence of Gulick's ideas on the nature of work roles and the implications for organisational theory.

An analysis is undertaken of Gulick's writings in the “Papers on the Science of Administration”, on different ways of organising (for which the author has used the term “systems of organisation”) and similar work by his contemporaries, including Chester Barnard. The subsequent critique of Gulick's ideas by Herbert Simon is evaluated. Gulick's ideas are then compared with a theoretical framework developed by the author, which covers similar ground to the systems of organisation.

The paper argues that Gulick's ideas on the nature of work roles in his systems of organisation were an important, but flawed contribution to organisational theory. Shortcomings in Gulick's theories on systems of organisation are identified, which, when rectified, improve the coherence of the theories and address legitimate criticisms made by Herbert Simon.

The article has important implications for contemporary interpretations of the intellectual clash between Gulick and Simon, and the relevance of Gulick's ideas for contemporary management research.

The article has implications for the theoretical perspectives which are brought to bear on how organisations conceptualise their work tasks and organise themselves accordingly.

The paper subjects one of the central elements of Gulick's principles of administration to in‐depth critique at a conceptual level in order to re‐evaluate its worth and contemporary relevance.

This case study explores how a service development, such as an intermediate care scheme, can be delivered through a partnership of learning organisations, how it can be translated naturally from project to mainstream phase and how the objectives of the service can be extended to meet the objectives of the wider regeneration partnership. It further considers how success in regeneration impacts beneficially on health improvement.

Hospices are undergoing changes in the way they are funded by health boards as a result of the change to a contract‐setting regime in the NHS. This may have implications for the overall funding position of the hospices; particularly there is a concern as to whether charitable giving to these bodies will decrease as a result. Analyses the accounts of Scottish voluntary sector hospices over the transition period as a means of identifying any such changes. Finds no immediate threat to the continued functioning of the hospices, on a financial basis.

This article seeks to examine approaches to combating the “scourge of international terrorism” by targeting the financial resources of terrorist organizations and their supporters.

The article begins with the disputed issue of how to define a “terrorist”, “terrorism”, “terrorist organizations” and “acts of terrorism”. In a global financial system, differences between the definitions of those terms could have significant implications because terrorists have the means and will to operate their financing infrastructure from the least effectively regulated jurisdictions. There are many methods by which terrorists finance both their organizations and specific attacks. By concentrating on three examples of recent terrorist activity, namely the 9/11 attacks in New York, the 7/7 bombings in London, and the transfer of funds from the “Union of Good” to Hamas to fund terrorist attacks in Israel by means of a certain charitable association, the article illustrates the problems facing legal regimes seeking to limit terrorist funding.

The article notes a broad convergence in the methods of those jurisdictions when combating the financing of terrorism.

The paper provides a discussion of financial resources of terrorism from a legal professional in an area where terrorism is a real danger.

This paper aims to analyse the economics of financing banking supervision and attempts to respond to two questions: What are the most common financing practices? Can the differences in current financing practices be explained by country‐specific factors, using a path‐dependence approach?

The paper performs an empirical analysis that identifies the determinants of the financing structure of banks' prudential supervision using a sample of 90 banking supervisors (central banks and financial authorities).

The paper concludes that supervisors in central banks are more likely to be publicly funded, while financial authorities are more likely to be funded via a levy on the regulated banks. The financing rule is also explained by the structure of the financial systems. Public funding is more likely in bank‐oriented structures. Finally, the geographical factor is also significant: European bank supervisors are more oriented towards the private funding regime.

In general, the paper does not find evidence of the role of the political factor, the size of the economy, the level of development and the legal tradition.

The paper analyses the financial governance of banking supervision in a sample of 90 countries world‐wide. The empirical analysis focuses on the financing rules and identifies factors that explain the differences between supervisory authorities.