Markets as Open Systems: Organizing and Reorganizing a Financial Market

2018 ◽  
Author(s):  
Mats Jutterström
Keyword(s):  
Financial Market ◽  
Open System ◽  
Open Systems ◽  
Market Reform ◽  
Institutional Environments ◽  
System Perspective ◽  
New Ideas ◽  
Individual Market

What are the drivers of market reorganization? Based on an in-depth longitudinal example—frequent reorganizations of a huge financial market—this chapter focuses on contextual drivers of market reorganization. The chapter highlights three drivers of reorganization that made the lives of the organizers both unexpected and difficult: side markets, general ideas diverging from practice, and new ideas. Moreover, the question of market reform frequency is addressed; the study illustrates how it may be propelled by contextual dynamics and unrealistic ideas still hoped for. The chapter demonstrates the relevance of an open system perspective on markets, recognizing both their technical and institutional environments as drivers of individual market reorganization.

scholarly journals Entrepreneurial orientation in family firms – management and intercultural development

2014 ◽  
Vol 6 (4-1) ◽  
pp. 181-190 ◽  
Author(s):  
Wioletta Czemiel-Grzybowska
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family System ◽  
Open Systems ◽  
Family Businesses ◽  
Intercultural Development ◽  
System Perspective ◽  
Business Context ◽  
Systems Perspective ◽  
Business System

AbstractThis paper has taken an insight to the systemic models of family business from the open systems perspective. I focus on family business system models and on the subsystems content of family system and ownership system in family business context. The paper claim that the open system perspective on intercultural family businesses has both theoretical and empirical implications on family business research. Family businesses have many reasons, including family conflicts over money, nepotism leading to wrong management, and infighting over the succession of power from one generation to the other. Regulating the family’s roles as shareholders, board members, and managers is very important because it can help avoid these pitfalls. This paper will discuss the importance of the openness of the company through five the attributes of enduring family businesses: ownership, family, business and portfolio governance, wealth management, foundation. Dimension of attributes success have taken family business like five jewelers.

THE QUANTUM TRAJECTORY APPROACH TO GEOMETRIC PHASE FOR OPEN SYSTEMS

2005 ◽  
Vol 20 (22) ◽  
pp. 1635-1654 ◽  
Author(s):  
ANGELO CAROLLO
Keyword(s):  
Quantum System ◽  
Open System ◽  
Geometric Phase ◽  
Open Systems ◽  
Quantum Trajectory ◽  
Operational Method ◽  
Markovian Approximation ◽  
Physical Systems ◽  
Quantum Jump ◽  
Trajectory Approach

The quantum jump method for the calculation of geometric phase is reviewed. This is an operational method to associate a geometric phase to the evolution of a quantum system subjected to decoherence in an open system. The method is general and can be applied to many different physical systems, within the Markovian approximation. As examples, two main source of decoherence are considered: dephasing and spontaneous decay. It is shown that the geometric phase is to very large extent insensitive to the former, i.e. it is independent of the number of jumps determined by the dephasing operator.

scholarly journals Cuestiones actuales del régimen jurídico-administrativo de las Cajas de ahorros españolas

2005 ◽  
pp. 31
Author(s):  
Ana Belén Casares Marcos
Keyword(s):  
Corporate Governance ◽  
Market Economy ◽  
Financial Market ◽  
Financial System ◽  
Legal Framework ◽  
Market Reform ◽  
Credit Institution ◽  
Savings Banks ◽  
Legal Situation ◽  
And Performance

Las reformas legislativas que han afectado en los últimos tiempos a la organización y el funcionamiento del sistema financiero español han tenido una especial repercusión en el ámbito de las cajas de ahorros. La tramitación parlamentaria de la Ley 44/2002, de 22 de noviembre, de Medidas de Reforma del Sistema Fianciero, reavivó el debate sobre su régimen jurídico y la necesidad de acotar la intervención pública en su seno. Ahonda en ello la Ley 26/2003 , de 17 de julio, de Transparencia, que extiende al ámbito de las cajas la preocupación por el corporate governance. Ambas normas responden a la necesidad de dar respuesta a algunos de los problemas más inmediatos a que se enfrentan estas entidades, si bien adolecen de un defecto fundamental por cuanto no abordan de forma exhaustiva la regulación de la institución. Se perpetúa así la trayectoria tradicional de "parcheo" del régimen jurídico aplicable a las mismas, evitando entrar en la cuestión esencial de la definición de su naturaleza jurídica y abocando a las cajas, en consecuencia, al díficil reto de acompasar su vocación social tradicional a las nuevas exigencias legales en pro de una mayor eficiencia, racionalidad y neutralidad de su acitividad económica.<br /><br />Recent legal changes pertaining to the organization and performance of the Spanish financial system have had significant repercussions on the savings banks sector. The law on financial market reform passed in 2002, Ley Financiera, raised once again the debate on their legal situation and the urge to cut down public influence on their management. The 2003 Transparency Law, Ley de Transparencia, follows this reform and extends corporate governance to Spanish savings banks. Both Laws seek to confront some of the most important issues raised by these credit institutions, but they also share the flaw of not regulating its legal framework and status completely. They continue, therefore, to add "patches" to the savings banks legislation, challenging these institutions to combine its function as a credit institution in a market economy and its position as a social foundation

Aspects of the weak-coupling theory of open systems

1983 ◽  
Vol 61 (11) ◽  
pp. 1479-1485 ◽  
Author(s):  
I. D. Cox ◽  
W. E. Hagston ◽  
B. J. Holmes
Keyword(s):  
Perturbation Theory ◽  
Open System ◽  
Weak Coupling ◽  
Open Systems ◽  
Higher Order ◽  
Projection Operators ◽  
Coupling Theory ◽  
Weak Coupling Theory ◽  
Damping Theory ◽  
Insight Into

Damping theory of an open system S is usually formulated in terms of projection operators which introduce nonuniqueness into the analysis. An insight into the nature of the approximations that arise from this aspect of the formalism is revealed by considering systems of varying complexity. This leads to the conclusion that the results of higher order perturbation theory approximations may not be meaningful.

Institutions and Economic Policy

2021 ◽  
pp. 41-63
Author(s):  
Paolo Ramazzotti
Keyword(s):  
Economic Policy ◽  
Social Welfare ◽  
Open System ◽  
Voting Behavior ◽  
System Perspective ◽  
Subsequent Discussion ◽  
Neoliberal Policies ◽  
The Way

This chapter discusses the problems associated to an inadequate theory of economic policy. It begins by presenting the mainstream and heterodox approaches to policy. It contends that, according to the mainstream, policy must guarantee efficiency or, at the very least, consider it a key constraint, whereas according to heterodox economists, it may have a broader variety of goals. The latter's open system perspective implies that changes in the structure of the economy eventually feedback both on how people conceive of the economy and social welfare and on how the economy itself functions. The relevance of this issue, which is understated, emerges from the subsequent discussion of how neoliberal policies have changed the structure of the economy, the way people conceive of the economy, and even their voting behavior.

E-Cigarettes: Policy Options and Legal Issues Amidst Uncertainty

2015 ◽  
Vol 43 (S1) ◽  
pp. 23-26 ◽  
Author(s):  
Nancy Kaufman ◽  
Margaret Mahoney
Keyword(s):  
Smoking Cessation ◽  
Propylene Glycol ◽  
Open System ◽  
Closed System ◽  
Open Systems ◽  
Delivery Systems ◽  
Legal Issues ◽  
Policy Options ◽  
Electronic Nicotine Delivery Systems ◽  
Closed Systems

E-cigarettes, sometimes referred to as ENDS (Electronic Nicotine Delivery Systems), include a broad range of products that deliver nicotine via heating and aerosolization of the drug. ENDS come in a variety of forms, but regardless of form generally consist of a solution containing humectant (e.g., propylene glycol or glycerol), flavorings, and usually nicotine (some solutions do not contain nicotine); a battery-powered coil that heats the solution into an aerosol (usually referred to as vapor) in an atomizing chamber; and a mouthpiece through which the user draws the vapor into the mouth and lungs. The devices may be closed systems containing prefilled cartridges, or open systems, where the user manually refills a 1-2 ml. tank with solution. What started as closed-system cigarette-shaped devices marketed as an adjunct for smoking cessation, has transitioned rapidly to literally thousands of hip and funky-designed open-system hookah pens, vape pens, and modifiable devices. For younger people, these forms are the “in” thing, while traditional cigarette-shaped devices are “out.”

scholarly journals Economics and interdisciplinarity: an open-systems approach

2017 ◽  
Vol 37 (2) ◽  
pp. 343-362
Author(s):  
VÍTOR NEVES
Keyword(s):  
Political Economy ◽  
Open System ◽  
Systems Approach ◽  
Open Systems ◽  
Object Of Study

ABSTRACT This is a text on economics and interdisciplinarity. It takes account of the plurality of meanings that the practice of interdisciplinarity has assumed in economics, discusses why interdisciplinarity is essential to the study of the economy and analyzes two models of what interdisciplinarity should be in economics. Reference is also made to the obstacles inherent in the practice of interdisciplinarity. Its ultimate goal is to show why the economy (as an object of study), being an open system, cannot be left to economists alone requiring, instead, a pluralistic, political economy understanding of the ‘economic’.

scholarly journals THE POSITION FILLING OF PRATAMA HIGH LEADERSHIP IN CIANJUR REGENCY UNDER GOOD GOVERNANCE CONCEPT

2017 ◽  
Vol 17 (2) ◽  
pp. 129
Author(s):  
Tanti Kirana Utami
Keyword(s):  
Open System ◽  
Good Governance ◽  
Open Systems ◽  
Descriptive Analysis ◽  
The State ◽  
Fundamental Change ◽  
Competitive System ◽  
Selection Committee ◽  
Triangulation Method ◽  
Local Agencies

A fundamental change in terms of structuring government apparatus particularly position filling of pratama high leadership in local agencies openly aimed to realize good governance. This paper examines the application of open systems in position filling of pratama high leadership of regional secretary in Cianjur and the government's readiness of Cianjur regency in the implementation of position filling of pratama high leadership (regional secretary). This research applied normative juridical approach by descriptive analysis while the analysis of data used triangulation method. The results of this study are the position filling of pratama high leadership (regional secretary) in Cianjur already introduced an open and competitive system by forming a selection committee to establish and coordinate with the State Civil Administrative Commission in the implementation of the administration and the competence of official candidates. In filling the position of high leadership, a regulation of sanctions and rewards for position of pratama high leadership related to the performance is required.Keywords: position of Pratama high leadership, open system, good governance

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