Financial development, role of government, and bank profitability: evidence from the 2008 financial crisis

2016 ◽  
Vol 41 (2) ◽  
pp. 370-391 ◽  
Author(s):  
Hsiu-I Ting
Keyword(s):  
Financial Crisis ◽  
Financial Development ◽  
2008 Financial Crisis ◽  
Bank Profitability ◽  
Role Of Government ◽  
The 2008 Financial Crisis

The role of customers and employees in the buffer effect of corporate social responsibility in times of crisis

2020 ◽  
Vol 46 (7) ◽  
pp. 955-975 ◽  
Author(s):  
Dorra Ellouze
Keyword(s):  
Financial Crisis ◽  
Negative Impact ◽  
Employee Productivity ◽  
Negative Events ◽  
Buffer Effect ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Cooperative Relationships ◽  
The 2008 Financial Crisis

PurposeThe purpose of the paper is to investigate the role of customers and employees in the buffer effect of CSR around the 2008 financial crisis in the European context.Design/methodology/approachUsing a sample of 323 European firms listed in STOXX Europe 600 Index, different models are estimated to test whether the effect of CSR ratings on firms' relationships with their customers and employees could be different during the 2008 financial crisis relative to the pre-crisis and post-crisis periods.FindingsThe paper shows that CSR rating has a significantly negative impact on firms' accounts receivable and a significantly positive effect on employee productivity during the crisis period (from 2007 to 2009). However, there is no significant effect of CSR rating during the non-crisis periods. These results suggest that during negative events, customers are willing to continue supporting high-CSR firms by paying their invoices faster. Furthermore, these firms benefit from higher productivity of their employees who are willing to work harder in periods of uncertainty.Research limitations/implicationsFirms should invest in CSR practices to maintain strong and cooperative relationships with their customers and employees. Also, investors should choose firms engaging in more social capital. Moreover, policymakers should encourage implementing CSR practices which act as an insurance-like protection in times of negative events.Originality/valueThis paper adds to the previous studies by investigating whether the cooperative role of customers and employees can explain the buffer role of CSR around the crisis. Furthermore, it considers companies located in several European countries for a long period (from 2004 to 2012) to compare periods of crisis and non-crisis.

A Study on Multi-Class Fund Flows and Consumer Protection

2017 ◽  
Vol 25 (1) ◽  
pp. 41-74
Author(s):  
Tai-Yong Roh ◽  
Sun-Joong Yoon ◽  
Sung Won Seo
Keyword(s):  
Financial Crisis ◽  
Mutual Fund ◽  
Fund Flows ◽  
Empirical Observation ◽  
2008 Financial Crisis ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
The 2008 Financial Crisis

We examine whether the suitability principles hold for the mutual fund industry in Korea, by analyzing the dynamics and the characteristics of the multi-class fund flows. For 12-years from 2002 to 2013, the volatility of fund flows associated with A-class fund, which is more appropriate for long-term investments, is larger than that associated with C-class fund. Therefore, it can be interpreted that the suitability principles do not hold. To examine the empirical observation, we mainly focus on the role of the dollar cost averaging (DCA) style funds. We show that if we adjust for the effect of DCA funds, the suitability principles does not hold only before the 2008 financial crisis. Thus, we argue that individuals' irrational decision making is caused by heavy investments on A-class fund through DCA style types before the financial crisis. This leads to the observed violation of the suitability principles before the crisis. Our findings also suggest that after the financial crisis, the mutual fund industry in Korea becomes mature.

Hauntologizing the (un)foreseen present: The 2008 financial crisis in Antonio Muñoz Molina’s La noche de los tiempos and Todo lo que era sólido

2019 ◽  
Vol 49 (3-4) ◽  
pp. 324-335
Author(s):  
David Amezcua
Keyword(s):  
Financial Crisis ◽  
The Other ◽  
Cultural Narratives ◽  
2008 Financial Crisis ◽  
Other Hand ◽  
The 2008 Financial Crisis

This article deals with Antonio Muñoz Molina’s La noche de los tiempos (2009) and Todo lo que era sólido (2013a) and provides an interdiscursive analysis of both works, aiming to highlight their thematic and affective connections. Similarly, I contend that these works belong in the fabric of cultural narratives around the 2008 financial crisis. On the other hand, the spectral nature of the narrators of both La noche de los tiempos and Todo lo que era sólido is scrutinized, departing from Derrida’s notion of hauntology. Finally, the role of metaphors in the construction of reality is examined, paying heed to Muñoz Molina’s lucid analysis of the dominant metaphors that were used during the years prior to the 2008 financial crisis. His analysis leads us to consider the necessity of creating a new narrative for Europe which helps shape and redefine a new sense of Europeanness.

Mathematics without Apologies

2017 ◽  
Author(s):  
Michael Harris
Keyword(s):  
Number Theory ◽  
Financial Crisis ◽  
Pop Culture ◽  
First Century ◽  
2008 Financial Crisis ◽  
Dinner Party ◽  
Mathematical Life ◽  
Personal Experiences ◽  
The 2008 Financial Crisis ◽  
Guided Tour

What do pure mathematicians do, and why do they do it? Looking beyond the conventional answers, this book offers an eclectic panorama of the lives and values and hopes and fears of mathematicians in the twenty-first century, assembling material from a startlingly diverse assortment of scholarly, journalistic, and pop culture sources. Drawing on the author's personal experiences as well as the thoughts and opinions of mathematicians from Archimedes and Omar Khayyám to such contemporary giants as Alexander Grothendieck and Robert Langlands, the book reveals the charisma and romance of mathematics as well as its darker side. In this portrait of mathematics as a community united around a set of common intellectual, ethical, and existential challenges, the book touches on a wide variety of questions, such as: Are mathematicians to blame for the 2008 financial crisis? How can we talk about the ideas we were born too soon to understand? And how should you react if you are asked to explain number theory at a dinner party? The book takes readers on an unapologetic guided tour of the mathematical life, from the philosophy and sociology of mathematics to its reflections in film and popular music, with detours through the mathematical and mystical traditions of Russia, India, medieval Islam, the Bronx, and beyond.

Sign in / Sign up

Export Citation Format

Share Document