Reframing Finance

2017 ◽  
Author(s):  
Gordon L. Clark ◽  
Ashby H. B. Monk
Keyword(s):  
Institutional Investors ◽  
Organizational Innovation ◽  
The World

In the concluding chapter, Chapter 11, we summarize the various methods that asset-owning investors might consider applying when they are endeavouring to catalyse change and innovate prudently. They can achieve this by viewing the world through the lens of those institutional investors who search for organizational innovation and reconfiguration to meet their long-term objectives in a challenging world. The objectives of Chapter 11, and indeed of the whole book, have been to remind investors of their core functions and to show them how they can best take charge of their futures. This chapter lays down plans for how asset owners might mobilize their innovative ideas and, indeed, persuade their boards to resource them appropriately.

scholarly journals INVESTMENT STRATEGIES OF INSTITUTIONAL INVESTORS: SOVEREIGN WEALTH FUNDS VS ENDOWMENTS

2013 ◽  
pp. 117-126
Author(s):  
E. S. Biryukov
Keyword(s):  
Real Estate ◽  
Hedge Funds ◽  
Institutional Investors ◽  
Private Equity ◽  
Investment Strategy ◽  
High Yield ◽  
Income Volatility ◽  
Sovereign Wealth Funds ◽  
The World

The paper considers two main original approaches to investing the assets of institutional investors (the total amount of their assets in the world is about 100 trillion dollars) – the one of Norway's sovereign wealth fund Global and approach of Yale's endowment fund. Fund Global with assets of $ 716 billion dollars is the largest institutional investor in the world, its strategy is based on the assumption that markets are efficient and their long-term growth lies in the balance of investment in stocks , bonds, and , since more recent time - in real estate. Financiers of Yale in the 1990s revolutionized the approach to investment, firstly, by reducing the proportion of stocks and bonds in favor of private equity and real estate, and secondly , by shift from investments in the domestic market to foreign markets. Not all institutional investors are ready to follow these strategies because of the risk of negative returns in times of crises, but in the medium- and long-term, these approaches allow to beat inflation. For example, Yale's endowment has grown since 1985 to 2012 from 1.6 to 19 billion dollars, and high yield allows to transmit 1 billion dollars (!) to the budget of the university annually. Endowment funds are one of the key sources of revenues of leading American universities. Analysis of the investment policy of endowment funds and sovereign wealth funds shows that fundamental changes in the concept of investing began to occur since the late 1980s - early 1990s . Institutional investors of both these types ceased to focus on conservative instruments - bonds and deposits , and use other options: Global - stocks , Yale – private equity , hedge funds, real estate investments , etc. With the expand of the spectrum of instruments in which the funds are invested the income volatility increases either, and therefore the institutional investors should be both transparent and explain to the public the motives of investment strategy changes.

New Vehicles to Drive the Collaborative Model

2017 ◽  
Author(s):  
Ashby Monk ◽  
Rajiv Sharma ◽  
Duncan L. Sinclair
Keyword(s):  
Real Estate ◽  
Institutional Investors ◽  
Joint Ventures ◽  
Theoretical Explanation ◽  
Collaborative Model ◽  
Actual Case ◽  
The World ◽  
Set Up

Chapter 4 presents actual case study examples of the vehicles that have been set up and represent the collaborative model. Whereas earlier chapters provided the theoretical explanation and validation for the collaborative model, Chapter 4 provides detailed explanations of eight investor-led co-investment platforms, joint ventures, and platform companies. The vehicles illustrated represent innovative ways for institutional investors to pool capital together to invest around the world into long-term assets such as infrastructure, agriculture, and real estate. The case studies are designed to outline how they came about and what the challenges were in their setup. The chapter is supplemented with a database that identifies over a hundred collaborative investment vehicles that have been set up mostly in the last few years. This chapter will help provide key lessons on strategy, governance, and structural issues as more of these vehicles are setup in the future.

Thoughts on the Long-Term Strategy, Science and Democracy

2006 ◽  
pp. 4-19 ◽  
Author(s):  
L. Abalkin
Keyword(s):  
Strategy Development ◽  
Russian Science ◽  
Global Trends ◽  
The World ◽  
World Development ◽  
Crucial Condition

The article covers unified issues of the long-term strategy development, the role of science as well as democracy development in present-day Russia. The problems of budget proficit, the Stabilization Fund issues, implementation of the adopted national projects, an increasing role of regions in strengthening the integrity and prosperity of the country are analyzed. The author reveals that the protection of businessmen and citizens from the all-embracing power of bureaucrats is the crucial condition of democratization of the society. Global trends of the world development and expert functions of the Russian science are presented as well.

Coal's Persistence in the Capitalist World-Economy

2020 ◽  
Vol 6 (2) ◽  
pp. 194-221 ◽  
Author(s):  
Paul K. Gellert ◽  
Paul S. Ciccantell
Keyword(s):  
World Economy ◽  
Industrial Revolution ◽  
Energy Transition ◽  
Ecological Modernization ◽  
World Systems ◽  
Coal Consumption ◽  
The World ◽  
Capitalist World Economy ◽  
Capitalist World

Predominant analyses of energy offer insufficient theoretical and political-economic insight into the persistence of coal and other fossil fuels. The dominant narrative of coal powering the Industrial Revolution, and Great Britain's world dominance in the nineteenth century giving way to a U.S.- and oil-dominated twentieth century, is marred by teleological assumptions. The key assumption that a complete energy “transition” will occur leads some to conceive of a renewable-energy-dominated twenty-first century led by China. After critiquing the teleological assumptions of modernization, ecological modernization, energetics, and even world-systems analysis of energy “transition,” this paper offers a world-systems perspective on the “raw” materialism of coal. Examining the material characteristics of coal and the unequal structure of the world-economy, the paper uses long-term data from governmental and private sources to reveal the lack of transition as new sources of energy are added. The increases in coal consumption in China and India as they have ascended in the capitalist world-economy have more than offset the leveling-off and decline in some core nations. A true global peak and decline (let alone full substitution) in energy generally and coal specifically has never happened. The future need not repeat the past, but technical, policy, and movement approaches will not get far without addressing the structural imperatives of capitalist growth and the uneven power structures and processes of long-term change of the world-system.

Covid-19 and Mining industry

2020 ◽  
pp. 10-18 ◽  
Author(s):  
V.B. Kondratiev
Keyword(s):  
Mining Industry ◽  
Commodity Markets ◽  
Current Crisis ◽  
Mining Companies ◽  
The World ◽  
Commodity Demand ◽  
Long Term Impact

The COVID-19 pandemic has affected the commodity markets and mining industry around the world in different ways. Mining company’s operations have been hit by coronavirus outbreaks and government-mandated production stops. Demand for many commodities remains low. This paper examines the potential long-term impact of the COVID-19 pandemic on future commodity demand, mining prospects, as well as tactical and strategic steps by mining companies to overcome the current crisis quickly and effectively.

Unmaking and Remaking the World in Long-Term Solitary Confinement

2018 ◽  
Vol 1 (1) ◽  
pp. 16
Author(s):  
Lisa Guenther
Keyword(s):  
The Body ◽  
Solitary Confinement ◽  
Hunger Strike ◽  
State Prison ◽  
Legal Documents ◽  
The Social ◽  
The World ◽  
Collective Resistance ◽  
Civil Death

In The Body in Pain, Elaine Scarry analyzes the structure of torture as an unmaking of the world in which the tools that ought to support a person’s embodied capacities are used as weapons to break them down. The Security Housing Unit (SHU) of California’s Pelican Bay State Prison functions as a weaponized architecture of torture in precisely this sense; but in recent years, prisoners in the Pelican Bay Short Corridor have re-purposed this weaponized architecture as a tool for remaking the world through collective resistance. This resistance took the form of a hunger strike in which prisoners exposed themselves to the possibility of biological death in order to contest the social and civil death of solitary confinement. By collectively refusing food, and by articulating the meaning and motivation of this refusal in articles, interviews, artwork, and legal documents, prisoners reclaimed and expanded their perceptual, cognitive, and expressive capacities for world-making, even in a space of systematic torture.

Engineering for good: A case of community driven engineering innovation

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Chinweike Eseonu ◽  
Martin A Cortes
Keyword(s):  
Engineering Students ◽  
Technology Innovation ◽  
Local Communities ◽  
First Year ◽  
Engineering Curriculum ◽  
Engineering Design Process ◽  
The World ◽  
The University ◽  
Social Consideration

There is a culture of disengagement from social consideration in engineering disciplines. This means that first year engineering students, who arrive planning to change the world through engineering, lose this passion as they progress through the engineering curriculum. The community driven technology innovation and investment program described in this paper is an attempt to reverse this trend by fusing community engagement with the normal engineering design process. This approach differs from existing project or trip based approaches – outreach – because the focus is on local communities with which the university team forms a long-term partnership through weekly in-person meetings and community driven problem statements – engagement.

The Long-term Use of Short-term Debt around the World

2019 ◽  
Author(s):  
Lifang Chen ◽  
Yong Li ◽  
Yizhong Wang ◽  
Bohui Zhang
Keyword(s):  
Short Term ◽  
The World

THE INFLUENCE OF SCOTTISH ACCOUNTANTS IN THE UNITED STATES: THE EARLY CASE OF THE SOCIETY OF ACCOUNTANTS IN EDINBURGH

1997 ◽  
Vol 24 (1) ◽  
pp. 117-141 ◽  
Author(s):  
T. A. LEE
Keyword(s):  
United States ◽  
General Theory ◽  
Research Program ◽  
The United States ◽  
The World ◽  
Early Case ◽  
The Impact ◽  
Chartered Accountants ◽  
The U.S

This study represents part of a long-term research program to investigate the influence of U.K. accountants on the development of professional accountancy in other parts of the world. It examines the impact of a small group of Scottish chartered accountants who emigrated to the U.S. in the late 1800s and early 1900s. Set against a general theory of emigration, the study's main results reveal the significant involvement of this group in the founding and development of U.S. accountancy. The influence is predominantly with respect to public accountancy and its main institutional organizations. Several of the individuals achieved considerable eminence in U.S. public accountancy.

A Long Stagnation, or Capitalism without Growth

2018 ◽  
Author(s):  
Louçã Francisco ◽  
Ash Michael
Keyword(s):  
Great Recession ◽  
World Economy ◽  
Economic Stability ◽  
Secular Stagnation ◽  
The Great Recession ◽  
The Past ◽  
The World ◽  
History Of ◽  
Growth Prospects

Chapter 11 assesses the growth prospects of the world economy. The history of global economic doomsaying is traced briefly, a frequently reasonable position that has not done well with the facts for the past hundred years. Capitalism has been adept at escaping from the pit and pendulum. A set of global imbalances is then reviewed that are seen as posing a severe threat to global economic stability and certainly to the prospects for sustainable and equitable growth. The Great Recession following the Crash of 2007–8 might be “different this time.” Historical and contemporary fears of “secular stagnation” are discussed but the speculative nature of stagnationist assessments is acknowledged.

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