Public Support to the European Car Industry: The Impact of the Financial Crisis

2014 ◽  
Vol 15 (3) ◽  
pp. 283-321 ◽  
Author(s):  
Laura Grigolon ◽  
Nina Leheyda ◽  
Frank Verboven
Author(s):  
Maximiliano Emanuel Korstanje

Doubtless, COVID-19 has accelerated an economic financial crisis since 2008, affecting seriously not only the tourism industry but the global commerce. Governments have adopted different positions and programs to mitigate the economic aftermath of COVID-19. As never before in its history, tourism has been placed between the wall and the deep blue sea. Although the interests and studies evaluating the impact of COVID-19 have captivated the attention of countless scholars, less attention was given to the rent-a-car industry, which occupies a central position in the tourist system. As substitute competitors of train, bus, and airplanes, the rent-a-car organizations seem to be a quintessential actor of the tourist system. Of course, because we live in a world without tourists, empirical-based studies do not abound. To fill such a gap, the present chapter describes the economic downturn of a rent-a-car organization giving a firm empirical case. Although illustrative to some extent, the obtained outcome cannot be extrapolated to other universes or samples.


2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.


2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.


2017 ◽  
pp. 110-127 ◽  
Author(s):  
Elżbieta Kużelewska

This article analyses the impact of constitutional referendums on the political system in Italy. There were three constitutional referendums conducted in 2001, 2006 and 2016. All of them have been organised by the ruling parties, however, only the first one was successful. In the subsequent referendums, the proposals for amending the constitution have been rejected by voters. The article finds that lack of public support for the government resulted in voting „no” in the referendum.


Author(s):  
Peter Dietsch

Monetary policy, and the response it elicits from financial markets, raises normative questions. This chapter, building on an introductory section on the objectives and instruments of monetary policy, analyzes two such questions. First, it assesses the impact of monetary policy on inequality and argues that the unconventional policies adopted in the wake of the financial crisis exacerbate inequalities in income and wealth. Depending on the theory of justice one holds, this impact is problematic. Should monetary policy be sensitive to inequalities and, if so, how? Second, the chapter argues that the leverage that financial markets have today over the monetary policy agenda undermines democratic legitimacy.


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