scholarly journals Bank power and public policy since the financial crisis

2020 ◽  
Vol 22 (1) ◽  
pp. 1-24 ◽  
Author(s):  
Huw Macartney ◽  
David Howarth ◽  
Scott James
Keyword(s):  
Financial Crisis ◽  
Policy Outcomes ◽  
Regulatory Capture ◽  
Undue Influence ◽  
Academic Literature ◽  
International Financial Crisis ◽  
The Media ◽  
The 2008 Financial Crisis ◽  
Financial Power

AbstractDespite much commentary in the media and the popular assumption that the banking industry exerts undue influence on government policy-making, the academic literature on the role of the banks since the 2008 financial crisis remains theoretically and empirically under-specified. In particular, we argue that different forms of financial power are often conflated, while favorable policy outcomes are too-readily assumed to be evidence of regulatory capture. In short, we still know relatively little about how bank influence varies over time and in different national contexts, the extent to which banking interests are unified or divided, and the conditions under which banks are capable of producing meaningful variation in policy outcomes. This article has three objectives: 1) to explain why the debate on bank influence matters; 2) to examine the evidence of bank influence since the international financial crisis; and 3) to set out a range of conceptual tools for thinking about bank power.

Leaders or “Guides” of Public Opinion? The Media Role of Chinese Foreign Policy Experts

Modern China ◽  
2019 ◽  
pp. 009770041988273 ◽  
Author(s):  
Pascal Abb
Keyword(s):  
Media Coverage ◽  
Chinese Foreign Policy ◽  
Policy Outcomes ◽  
Full Potential ◽  
Think Tank ◽  
Chinese Media ◽  
Public Expectations ◽  
The Media ◽  
International Issues

This article explores the growing role of think tank experts in Chinese media coverage on international issues and determines the degree to which voices in this spectrum diverge from each other as well as the official line espoused by China’s central media organs. It combines a large-sample sentiment analysis of commentaries published by three major institutes that have developed significant public profiles with an in-depth discussion of selected pieces written by especially prolific experts. Based on the results, I argue that Chinese expert commenters sometimes enrich media coverage and show a substantial variety in opinions among them, but prevailing political constraints, skewed incentives, and a slanted media environment keep them from realizing their full potential as public intellectuals. This limits their usefulness both for improving policy outcomes and for managing public expectations about China’s rise.

scholarly journals Influence, affluence and media salience: Economic resources and lobbying influence in the European Union

2020 ◽  
Vol 21 (4) ◽  
pp. 728-750 ◽  
Author(s):  
Frederik Stevens ◽  
Iskander De Bruycker
Keyword(s):  
European Union ◽  
News Media ◽  
Economic Resources ◽  
Policy Outcomes ◽  
The European Union ◽  
Policy Issues ◽  
The Public ◽  
Beneficial Role ◽  
The Media

This paper evaluates the circumstances under which affluent interest groups wield influence over policy outcomes. Interest group scholarship is ambiguous about the beneficial role of economic resources for lobbying influence. Economically resourceful groups are often presumed to provide more and better expert information to decision-makers and, in exchange, receive more favourable policy concessions. We argue that the beneficial role of economic resources is contingent on the media salience of policy dossiers. We expect that resourceful groups are more influential when issues are discussed behind the public scenes, while their competitive advantage dampens once issues grow salient in the news media. We test our expectations in the context of European Union policymaking, drawing from 183 expert surveys with lobbyists connected to a sample of 41 policy issues. Our empirical findings demonstrate that economic resources matter for lobbying influence, but that their effect is conditional on the media salience of policy issues.

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.

The Media and Sports Corruption: An Outline of Sociological Understanding

2009 ◽  
Vol 2 (3) ◽  
pp. 261-273 ◽  
Author(s):  
Dino Numerato
Keyword(s):  
Future Research ◽  
Academic Literature ◽  
The Media ◽  
The Relationship

This article focuses on the role of the media in the processes of diffusion, maintenance, and undermining of corruption in sports, particularly soccer. Drawing chiefly on various illustrative examples of several recent cases of corruption and the existing academic literature on the topic, the article demonstrates how the media function as both an enemy and a facilitator of corruption in sports. Both micro- and macrosocial analytical dimensions for potential future research on the relationship between the media and corruption are proposed and discussed.

scholarly journals LEGAL CHALLENGES AFFECTING OFFSHORE TRUSTS POST 2008 FINANCIAL CRISIS

2014 ◽  
Vol 22 (2) ◽  
Author(s):  
Mohsin Hingun
Keyword(s):  
Financial Crisis ◽  
Tax Evasion ◽  
Tax Avoidance ◽  
Critical Examination ◽  
Hostile Environment ◽  
2008 Financial Crisis ◽  
Legal Challenges ◽  
The Media ◽  
The 2008 Financial Crisis

The phenomenal growth of offshore trusts valued in billions of dollars at the end of the last century as a result of its ability to attract, transfer and protect substantial sums of money from the settlor’s country to overseas jurisdictions with the potential to save, reduce, avoid and evade taxes have been subjected to critical examination by tax authorities, the courts, non-governmental organisations and the media, especially in the years following the 2008 financial crisis. The objective of this paper to briefly introduce the nature and uses of offshore is trusts and to focus on some of the important challenges they face in a hostile environment. An area of evolving interest is the secrecy issue inherent in offshore trusts which has been abused as a veil for tax avoidance/tax evasion.

scholarly journals Access to Banking and the Role of Inequality and the Financial Crisis

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Mauro Caselli ◽  
Babak Somekh
Keyword(s):  
Interest Rate ◽  
Financial Crisis ◽  
Financial Services ◽  
Income Disparities ◽  
Consumer Population ◽  
Alternative Financial Services ◽  
The 2008 Financial Crisis ◽  
The Interest Rate ◽  
Distribution Of Income

Abstract We study access to banking and how it is related to banks’ rate of return on investments and the distribution of income. We develop our empirical framework through a theoretical supply-side model of bank deposit services with a consumer population heterogeneous in income. We use this model to show how decreases in the interest rate margin and higher income disparities lead to an increase in the proportion of unbanked. Using localized US household data from 2009, 2011, 2013 and 2015 we find strong empirical evidence for the predictions of the model. We then structurally estimate our model to estimate the value of having a checking account relative to alternative financial services and to quantify the effects of actual changes in the interest rate margin and the distribution of income that occurred in the aftermath of the 2008 financial crisis.

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