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Article
Publication date: 17 December 2021

Oyindamola Abiola Ajayi and Tsietsi Mmutle

The purpose of this paper is to explore how the communication of corporate social responsibility (CSR) contributes towards a favourable corporate reputation. It explores…

Abstract

Purpose

The purpose of this paper is to explore how the communication of corporate social responsibility (CSR) contributes towards a favourable corporate reputation. It explores the communication strategies and channels organisations deemed reputable by stakeholders use to achieve an effective CSR communication.

Design/methodology/approach

To achieve this, a qualitative content analysis using the directed approach was conducted on the textual CSR communication materials of ten reputable organisations in South Africa based on the 2018 South Africa Reptrak survey.

Findings

Result showed that seven out of ten organisations use both self-serving and society-serving motive in their CSR communication, while the other 3 use only the society serving motive. The informing strategy was also more evident in the CSR communication materials than the interactive strategy. In terms of the communication channels, the study found that organisations mainly utilise controlled channels for CSR communication.

Originality/value

The literature reviewed and the findings of this study reveal a gap between the theory and practice of CSR communication. This drives the need for organisations to research and tailor CSR communication based on stakeholders' unique characteristics and preferences. The paper also contributes to improving the knowledge on the role different CSR communication strategies and channels play in CSR communication.

Details

Corporate Communications: An International Journal, vol. 26 no. 5
Type: Research Article
ISSN: 1356-3289

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Article
Publication date: 23 June 2021

Sherena Sheng Huang

The UK authority published its first regulatory guidance on crypto-assets in July 2019. This paper aims to critically evaluate the effectiveness of the crypto-asset…

Abstract

Purpose

The UK authority published its first regulatory guidance on crypto-assets in July 2019. This paper aims to critically evaluate the effectiveness of the crypto-asset regulation in the UK and the consistency of the existing regulatory scheme.

Design/methodology/approach

This paper adopts comparative methods to carry out the analysis. The paper begins by elaborating the development of crypto-assets alongside the financial innovation in the world and pinpointing the core Acts and Regulations applied to crypto-assets in the UK. The paper also discusses a court case in the EU to highlight an argument among legal professions concerning crypto-assets classification.

Findings

Through carefully analysing relevant primary and secondary legislation of the UK and EU, this paper identifies some unclarified issues in the regulatory framework and discovers three flaws in the regulatory system. The paper concludes that the effectiveness of the current regulatory scheme is poor and room for improvement exists.

Originality/value

The paper provides the first review and a thorough analysis of the Laws and Acts applied to the crypto-asset regulation in the UK. It also calls on a simpler and clearer regulatory scheme from the perspectives of market participants and consumers. The discovered issues in the crypto-asset regulation in the UK may urge authorities to improve the existing regulatory frameworks and legal provisions.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 15 June 2021

Gizem Atav, Subimal Chatterjee and Rajat Roy

When a product fails out of negligence on the seller’s part, consumers can either retaliate against the seller, more so if a third party encourages them to do so, or…

Abstract

Purpose

When a product fails out of negligence on the seller’s part, consumers can either retaliate against the seller, more so if a third party encourages them to do so, or forgive the seller should the seller express remorse. This paper aims to examine how the fit between the consumer’s promotion/prevention regulatory orientation and the promotion/prevention frame of a message of contrition (retaliation), such as an apology from a chief executive officer (CEO) (a class action suit threat by a lawyer), affects such forgiveness (retaliation) intentions in the form of product repurchase decisions.

Design/methodology/approach

In two laboratory experiments, this paper temporally induces a promotion or prevention orientation in the study participants and thereafter ask them to imagine experiencing a product failure and listening to (1) the CEO apologize for the harm (eliciting sympathy/encouraging repurchase); or (2) a lawyer inviting them to seek damages for the harm (eliciting anger/discouraging repurchase). This paper frames the messages from the CEO/lawyer such that they fit either with a promotion mindset or with a prevention mindset.

Findings

This paper finds that, following a message of apology, a frame-focus fit (compared to a frame-focus misfit) elicits sympathy and encourages repurchase universally across promotion and prevention-oriented consumers. However, following a message encouraging retaliation, the same fit elicits anger and discourages repurchase more among prevention-oriented than promotion-oriented consumers.

Originality/value

Although past research has investigated how regulatory fit affects forgiveness intentions, this paper fills three research gaps therein by (a) addressing both forgiveness and retaliation intentions, (b) deconstructing the fit-induced “just right feelings” by exploring their underlying emotions of sympathy and anger, and (c) showing that fit effects are not universal across promotion and prevention-oriented consumers. For practice, the results suggest that managers can lessen the fallout from product failures by putting consumers in a promotion mindset that strengthens the effect of a promotion-framed apology and inoculates them against all types of retaliatory messages.

Details

Journal of Consumer Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0736-3761

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Article
Publication date: 28 May 2021

Robert Stewart

The purpose of this study is to demonstrate that the internal ratings-based (IRB) approach provides more effective risk discrimination than the standardized approach when…

Abstract

Purpose

The purpose of this study is to demonstrate that the internal ratings-based (IRB) approach provides more effective risk discrimination than the standardized approach when calculating regulatory capital for retail credit risk exposures.

Design/methodology/approach

The author uses four retail credit data sets to compare regulatory capital appropriation using the IRB approach and the standardized approach. The author follows the regulatory capital calculation method recommended under Basel III. For the IRB approach, the author uses a logistic regression to determine the probability of default.

Findings

The results suggest that the IRB approach provides more effective risk discrimination across individual exposures, which allows more regulatory capital to be held against riskier exposures and less regulatory capital to be held against less risky exposures. The author further argues that the Basel III output floor, as presently constructed, may disincentivize the use of the IRB approach and further diminish the value of secured lending under the IRB approach. To address this issue, the author offers two simple adjustments to the current design of the output floor.

Originality/value

While studies have argued the idea of risk-sensitive regulatory capital, the author has not observed any research that empirically compares the risk-sensitivity of regulatory capital across retail credit exposures, which makes up a significant portion of many banks’ credit exposures. This study also highlights what appears to be a major point of concern for the output floor, which is set to be phased in starting January 2022. This is of particular value because this point has not appeared to receive any attention in the literature thus far.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

Keywords

Content available
Article
Publication date: 31 March 2021

Colin Scott

This article addresses the relationship of universities to their changing regulatory environments internationally.

Abstract

Purpose

This article addresses the relationship of universities to their changing regulatory environments internationally.

Design/methodology/approach

This article updates analysis published in 2004 exploring the contrasting modes of, and key trends in, regulation of higher education across eight OECD (Organisation for Economic Co-operation and Development) states. The article offers a wider analysis of the changing patterns of regulation rooted in mutuality, oversight, competition and design, and the implications for the management of higher education institutions.

Findings

Since 2004, higher education has seen more growth in oversight-based and competition-based regulation, but also some decentralization of regulation as an increasing cast of actors, many international and transnational in character, have asserted themselves in key aspects of the regulatory environment. This article explores the implications of these changes in the regulatory mix over higher education for the ways that universities manage their regulatory environment, arguing first, that there is significant evidence of meta-regulatory approaches to regulating universities, and second, that such a meta-regulatory approach is consistent with an emphasis on university autonomy, raising a challenge for universities in how to use the autonomy (variable by country) they do have to manage their environment.

Originality/value

This article offers an original analysis of how universities might most appropriately respond, deploying their autonomy, however variable, to address their external regulatory environment. The author suggests we might increasingly see the external regulatory environment as meta-regulatory in character and universities making more use of reflexive governance processes.

Details

Public Administration and Policy, vol. 24 no. 1
Type: Research Article
ISSN: 1727-2645

Keywords

Content available
Article
Publication date: 6 April 2021

Valter Shuenquener de Araújo

The purpose of this paper is to debate on how to achieve, in countries that have invested in the North American model of the regulatory state, the greatest efficiency in…

Abstract

Purpose

The purpose of this paper is to debate on how to achieve, in countries that have invested in the North American model of the regulatory state, the greatest efficiency in creating norms for the organization of public and private activities in order to guarantee the autonomy and technical impartiality required for the proper functioning of regulatory agencies.

Design/methodology/approach

This paper describes the development of the legal framework regarding regulatory agencies in Brazil. The research was based on bibliographical data, media reports, and the Brazilian Supreme Court decisions.

Findings

The regulation dissemination through regulatory agencies in Brazil has given rise to a series of controversies concerning the limits of their performance and the extent of their technical discretion. According to the findings, it is concluded that these independent agencies should be guided by the following four pillars: (1) the legal rule of fixed-term in office; (2) the principle of lesser control intensity (deference) of the agency acts; (3) the prohibition of contingency of agencies’ budgetary resources; and (4) the prohibition of agency powers suppression. Otherwise, the institutional capacity of agencies will be diminished and their neutral action in technical matters will be compromised.

Originality/value

This paper shows how enhanced autonomy and technical impartiality can be useful for better regulatory governance in other countries, preventing them from suffering from the same problems that have occurred in Brazil.

Details

Public Administration and Policy, vol. 24 no. 1
Type: Research Article
ISSN: 1727-2645

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Article
Publication date: 22 April 1991

Raymond F. Gorman and Gautam Vora

This study examines the distortive effects of the states’ regulatory climate on the underwriting costs of new equity issues of public utilities. Each state has its own…

Abstract

This study examines the distortive effects of the states’ regulatory climate on the underwriting costs of new equity issues of public utilities. Each state has its own public utility commission (or public service commission) to regulate the natural monopolies of public utilities. The wealth‐maximizing behavior of utilities is constrained by the rate‐making process monitored by the commissions. The policies of a state’s commission collectively establish the ’regulatory climate’ in that state. Using a sample of new equity securities issued, during the period from January 1973 through September 1980, by utilities listed on the New York Stock Exchange and the American Stock Exchange, we investigate the effect of the regulatory climate on underwriting costs. Our findings are that,in general, the direct costs of flotation, namely, underwriting commissions and out‐of‐pocket expenses,are positively related to regulatory climate where as the indirect cost of flotation, namely, underpricing of the new issue, is negatively related to regulatory climate. These results are counter intuitive since they imply that as the regulatory climate becomes more unfavorable the direct costs of flotation increase and the indirect cost of flotation decreases. This is clearly a distortive effect of the regulation and we offer some explanations for it.

Details

American Journal of Business, vol. 6 no. 1
Type: Research Article
ISSN: 1935-5181

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Book part
Publication date: 12 September 2017

Margaret Arblaster

The concept of light-handed regulation, including light-handed approaches to the regulation of airport services, is discussed. The rationale for the economic regulation of…

Abstract

The concept of light-handed regulation, including light-handed approaches to the regulation of airport services, is discussed. The rationale for the economic regulation of airport services and the traditional approaches used for economic regulation of airport charges are summarized. The evolution of international practice of light-handed regulation is outlined, including the experience with minimal regulation across monopoly industries in New Zealand and the acceptance of “negotiated settlements” in utility industries in North America. General reasons for moving to light-handed regulation of airports include the disadvantages of the price cap approach in practice and the benefits of facilitating greater negotiation between airports and users. Comparisons are made between alternative approaches to light-handed regulation of airport services, including price and quality of service monitoring, information disclosure regulation and negotiate-arbitrate regulation, approaches that have been applied to airport services in Australia and New Zealand. The role and nature of the incentives under each approach are discussed. The chapter concludes that whether light-handed regulation provides a suitable alternative approach to direct regulation depends on the market circumstances and the design characteristics of the light-handed approach.

Details

The Economics of Airport Operations
Type: Book
ISBN: 978-1-78714-497-2

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Book part
Publication date: 19 July 2014

Angel Saz-Carranza, Francisco Longo and Susanna Salvador Iborra

Networks are by now popular inter-organizational coordination modes. However, there is still much to know regarding how networks are governed and how their governance…

Abstract

Purpose of this Paper

Networks are by now popular inter-organizational coordination modes. However, there is still much to know regarding how networks are governed and how their governance develops and changes through time.

Design/Methodology/Approach

This paper addresses the research question how does the governance form of networks develops over time by empirically studying the European telecommunications regulatory network using a case study approach.

Findings

We find that the network’s governance system is determined by the dialectical tension between network members (National Regulatory Agencies) and an external very influential body (the European Commission).

This tension unifies the group in the classic external conflict–internal cohesion fashion. We also identify a second dialectical tension internal to the network among its members. The tensions are triggered by evaluations carried out by an external actor (the European Commission). In general, the process observed confirms the propositions that predict a formalizing of the governance as the network grows older.

Research limitations/Implications

This research is based on a single case, a broader analysis of other regulatory networks among network industries at the European Union level will help researchers to establish a more comprehensive picture on the development of the governance form of this specific subset of goal-directed networks.

Details

Mechanisms, Roles and Consequences of Governance: Emerging Issues
Type: Book
ISBN: 978-1-78350-706-1

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Book part
Publication date: 29 December 2016

Jocelyn Grira and Chiraz Labidi

This chapter discusses the regulatory challenges faced by financial institutions in emerging countries and it presents their specific features compared to financial…

Abstract

This chapter discusses the regulatory challenges faced by financial institutions in emerging countries and it presents their specific features compared to financial institutions in developed countries. It offers a practical way of implementing regulatory changes while accounting for emerging countries’ specific features. Using a principle-based approach, this chapter builds on the recent regulatory developments in both developed and developing market economies. It relates these developments to industry best practices as well as the current state of the art in risk management and corporate governance. The findings show how the regulation of financial institutions in emerging countries differs from that in developed countries. Different approaches to mitigate the divergences and fill the gaps are discussed. Both regulators and financial institutions in emerging countries will find this chapter offers a practical point of view based on field and industry experience on how to interpret and apply regulations and adopt best practices in risk management in a way that accounts for emerging countries’ specific features.

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