The Value and Partisanship Basis of Left-Right Placement after the Financial Crisis

2019 ◽  
Vol 18 (5-6) ◽  
pp. 567-594
Author(s):  
Carlos García Rivero ◽  
Hennie Kotzè
Keyword(s):  
Financial Crisis ◽  
Party Identification ◽  
Relative Weight ◽  
State Intervention ◽  
Political Elites ◽  
2008 Financial Crisis ◽  
The Public ◽  
Before And After ◽  
Inequality State ◽  
The Right

Abstract The concept of ideology has been related to economic inequality, state intervention in the economy, party identification, moral values and, more recently, to post-materialist values. It is also argued that the general public has a perception of this concept similar to that of the elites. This article analyses the left-right continuum at the elite and mass levels in five countries, before and after the recent severe financial crisis. It investigates: i) the relative weight of values vs partisanship as the basis of left-right self-placement; ii) whether political elites and citizens share the same factors underpinning ideology; and iii) whether there have been any changes in these factors as a consequence of the 2007-2008 financial crisis. The study is a quantitative analysis making use of survey data. Findings indicate that both elites and masses concentrated in moderate positions both before and after the crisis; citizens do not follow elites when explaining left-right self-placement; and the financial crisis has led elites to move toward the right and the public toward the left. Before the crisis citizens used to base their position on the scale on partisanship more than on values. After the crisis, values surpassed partisanship. Elite placements were mainly based on values.

scholarly journals IPO Underpricing After the 2008 Financial Crisis: A Study of the Chinese Stock Markets

2018 ◽  
Vol 10 (8) ◽  
pp. 2844 ◽  
Author(s):  
Rui Li ◽  
Wei Liu ◽  
Yong Liu ◽  
Sang-Bing Tsai
Keyword(s):  
Financial Crisis ◽  
Initial Public Offering ◽  
Small Firms ◽  
Effective Means ◽  
Ipo Underpricing ◽  
2008 Financial Crisis ◽  
Before And After ◽  
The Difference ◽  
The 2008 Financial Crisis ◽  
Public Offering

A firm’s capability of raising funding is closely related to its sustainable development. With a more efficient allocation of funding among the whole society, social resources will be better utilized. Initial Public Offering (IPO) can indeed be an effective means of raising capital for corporate ventures. Using 1069 firms which completed IPOs on Chinese stock exchanges between 1st January 2004 and 1st January 2013, we investigate the difference in IPO underpricing before and after the 2008 financial crisis. Based on OLS regression models, we find that the IPOs are less underpriced in the post-crisis period. We examine the moderating effects of firm size on the difference in IPO underpricing between pre- and post-crisis periods, finding that small firms experienced less IPO underpricing than large firms after the financial crisis. After applying different model specifications such as Robust and OProbit regressions, the results remain consistent. Our study contributes to understanding the dynamics and influences of the financial crisis on firms’ IPO cost from the perspective of information asymmetry.

Journalists’ Misjudgement of Audience Opinion

2021 ◽  
pp. 194016122110522
Author(s):  
David Nicolas Hopmann ◽  
Andreas R.T. Schuck
Keyword(s):  
Large Scale ◽  
Public Support ◽  
West Germany ◽  
Political Elites ◽  
Right Wing ◽  
Political Issues ◽  
The Public ◽  
Federal States ◽  
Voting Age ◽  
The Right

Prior studies have reported a right-leaning bias in the media’s reporting of how the public thinks of political issues, raising the question: Why, and to what extent, is this the case? One reason in particular has been discussed in this regard: Journalists judge public opinion to be more right leaning than it actually is (Beckers et al. 2021; Lewis et al. 2004). This paper therefore studies to what extent journalists misjudge audience opinion. The analyses are based on large-scale representative surveys of journalists (1993/2005) and the voting-age population (1994/2005) in Germany. Results show that German journalists (mis-)judge audience opinion to be more right-leaning than the audience sees itself. The results also show that journalists judge audience opinion to be to the right of their own stances, and that journalists in federal states with a right-leaning government and in West Germany judge audience opinion to be even further to the right. Audience feedback does not push journalists’ judgements of their audience towards the right, however. These results are discussed vis-à-vis research showing that there is a consistent bias in the depiction of opinions expressed by ordinary citizens, and research documenting that political elites overestimate public support for right-wing policies.

scholarly journals Risk Analysis of World Major Stock Index Before and After the 2008 Financial Crisis – Based on GARCH-VaR Approach

2018 ◽  
Vol 9 (2) ◽  
pp. 39
Author(s):  
Maoguo Wu ◽  
Yanyuan Wang
Keyword(s):  
Financial Crisis ◽  
Time Lag ◽  
Policy Implications ◽  
Stock Index ◽  
2008 Financial Crisis ◽  
Before And After ◽  
The 2008 Financial Crisis ◽  
Global Stock Markets ◽  
Stock Indexes ◽  
Global Stock

In 2008, the U.S. subprime mortgage crisis overwhelmed the global financial system, which sparked drastic fluctuation of world stock index. Subsequently, the risk of investment in global stock markets has augmented considerably. Applying the VaR approach based on GARCH model, this paper attempts to thoroughly investigate the volatility of S&P 500, NASDAQ, DJIA, GDAXI and CSI 300. For the purpose of comparison, data are divided into 2 parts: before the 2008 financial crisis and after the 2008 financial crisis. Thus, the paper elaborates impacts of the 2008 financial crisis on global stock index. In addition, this paper puts forward policy implications of risk control in Chinese financial market. According to empirical results, before the 2008 financial crisis, S&P 500, NASDAQ and DJIA were relatively stable; GDAXI was slightly fluctuant while CSI 300 fluctuated dramatically. When confronting with the 2008 financial crisis, the volatility of three American stock indexes surged at once, even exceeding that of CSI 300. GDAXI, however, experienced a time lag in the increase of volatility. So far, S&P 500, NASDAQ, DJIA and GDAXI have gradually recovered. On the contrary, CSI 300 still undulates frequently and erratically.

Small States, Nationalism and Institutional Capacities: An Explanation of the Difference in Response of Ireland and Denmark to the Financial Crisis

2015 ◽  
Vol 56 (1) ◽  
pp. 143-174 ◽  
Author(s):  
John L. Campbell ◽  
John A. Hall
Keyword(s):  
Financial Crisis ◽  
Market Economy ◽  
Banking Sector ◽  
Financial Burden ◽  
State Intervention ◽  
Small States ◽  
2008 Financial Crisis ◽  
The Difference ◽  
The 2008 Financial Crisis ◽  
Liberal Market Economy

AbstractThis paper uses theories of small states (e.g. Katzenstein) and nationalism (e.g. Gellner) to explain why Denmark and Ireland responded to the 2008 financial crisis in different ways. In Denmark, a coordinated market economy with considerable corporatism and state intervention, the private sector shouldered much of the financial burden for rescuing the banking sector. In Ireland, a liberal market economy without much corporatism or state intervention, the state shouldered the burden. The difference stems in large part from the fact that Denmark had comparatively thick institutions and a strong sense of nationalism whereas Ireland did not. Lessons for the theories of small states and nationalism are explored.

scholarly journals UPAYA MENCIPTAKAN LINGKUNGAN TEMPAT KERJA SEHAT DAN BERSIH SELAMA MASA PANDEMI

2021 ◽  
pp. 691
Author(s):  
Susy Olivia Lontoh ◽  
Yemima Graciela
Keyword(s):  
Work Environment ◽  
Community Service ◽  
Working Environment ◽  
Work Place ◽  
The Public ◽  
Healthy Working ◽  
Before And After ◽  
The Right ◽  
And Behavior ◽  
Attitudes And Behavior

Pharmacies and health professionals, including Pharmacists, assistant Pharmacists, and the cashier is one of the groups most at risk of contracting the virus Covid-19 during the pandemic Covid 19 dispensaries a place that is often accessible to the public because it provides services to the needs of the patient medications. Based on these problems, then do the activities to protect the workplace to reduce the risk of transmission in the workplace and pharmacies keep doing every drug but not be the area of transmission of the virus Covid-19. The purpose of community service is to improve the awareness, knowledge, attitudes, and behavior through training and education protocol-related health in the workplace the right so that can create a healthy work environment. Activities conducted June 17, 18,24 and 25 September 2021 environment dispensary in West Jakarta. The activities of 17-18 September 2021 conduct a preliminary survey to fill out the questionnaire with the google form linked the use of masks in the workplace, the habit of washing hands and clean the work place. The results of the questionnaire of 26 respondents was 15.4% of the respondents do not use the mask for work, the 23.1% of the respondents rarely use mask properly, a 34.6% rarely wash hands before work ,23,1% not important to wash hands before and after work and 23.1 % not important clean work environment with a disinfectant and clean the work place before and after work. PKM September 24, 2021 is the practice of how to wash hands in accordance with the recommendation of the Ministry of health, using the appropriate mask and face shield in the workplace. PKM activity carried out from September 25, 2021 manufacture means the place of hand washing common, put up a plastic barrier and spraying disinfectant in the area pharmacies. The activities of a community service program implemented well, after the implementation of community service activities is then the habit of washing hands before and after work, consumers wash their hands with water in place of washing hands before going into the area of the dispensary, the mask is worn according to the rules can continue to be done so that there is increased awareness of the workers and consumers in the workplace to create a healthy working environment during the pandemic.Apotik dan tenaga kesehatan termasuk Apoteker, asisten Apoteker serta kasir merupakan salah satu kelompok yang paling berisiko tertular virus Covid-19 karena selama pandemi Covid 19 apotik tempat yang sering diakses masyarakat karena memberikan pelayanan untuk kebutuhan obat pasien. Berdasarkan permasalahan tersebut maka dilakukan kegiatan untuk melindungi tempat kerja  untuk  menurunkan  risiko penularan di tempat kerja dan apotik tetap melakukan pelayanan obat tetapi tidak menjadi area penularan virus Covid-19. Tujuan kegiatan pengabdian adalah meningkatkan  kesadaran, pengetahuan, sikap dan perilaku melalui pelatihan serta edukasi  terkait protokol kesehatan ditempat kerja yang tepat sehingga dapat menciptakan lingkungan kerja yang sehat. Kegiatan dilakukan tanggal 17, 18,24 dan 25 September 2021 dilingkungan apotik di Jakarta Barat. Kegiatan tanggal 17-18 September 2021 melakukan survei awal mengisi kuisioner dengan google form terkait penggunaan masker ditempat kerja, kebiasaan mencuci tangan serta membersihkan tempat kerja. Hasil kuisioner dari 26 responden adalah  15,4 % responden  tidak penting menggunakan masker selama bekerja, 23,1% responden jarang menggunakan masker dengan tepat, 34,6% jarang mencuci tangan sebelum bekerja ,23,1% tidak penting mencuci tangan sebelum dan sesudah bekerja dan 23,1 % tidak penting membersihkan lingkungan kerja dengan desinfektan serta membersihkan tempat kerja sebelum dan sesudah bekerja. Kegiatan PKM tanggal 24 September 2021 adalah praktik cara mencuci tangan sesuai anjuran Kemenkes, menggunakan masker yang tepat serta face shield ditempat kerja. Kegiatan PKM yang dilakukan tanggal 25 September 2021 pembuatan sarana tempat cuci tangan umum, memasang plastik pembatas dan penyemprotan desinfektan di area apotik. Kegiatan program pengabdian masyarakat terlaksana dengan baik, setelah terlaksananya kegiatan pengabdian masyarakat ini maka kebiasaan  mencuci tangan sebelum dan setelah bekerja, konsumen mencuci tangan dengan air di tempat cuci tangan  sebelum masuk  ke area apotik, masker dipakai sesuai aturan dapat terus terlaksana sehingga terjadi peningkatan kesadaran pekerja serta konsumen ditempat kerja untuk menciptakan lingkungan kerja yang sehat selama pandemi.

COMPARATIVE TFP GROWTH BETWEEN GCC CONVENTIONAL AND ISLAMIC BANKS BEFORE AND AFTER THE 2008 FINANCIAL CRISIS

2020 ◽  
pp. 1-20
Author(s):  
AZZEDDINE AZZAM ◽  
BELAID RETTAB
Keyword(s):  
Financial Crisis ◽  
Technical Change ◽  
Islamic Banks ◽  
2008 Financial Crisis ◽  
Before And After ◽  
Product And Process Innovation ◽  
Product And Process ◽  
The 2008 Financial Crisis ◽  
Conventional Banks ◽  
Conventional And Islamic Banks

This paper measures and compares the performance of GCC conventional and Islamic banks in terms of total factor productivity growth (TFPG) before and after the 2008 financial crisis. The sources of TFPG are technical change, size economies, and observed asset growth. Technical change and size economies are measured by estimating a translog cost function and factor share equations. Results show that Islamic banks outperformed conventional banks overall and across different sizes. To the extent that product and process innovation improves TFPG, Islamic banks have weathered the 2008 financial crisis by being more innovative than conventional banks.

Comparing state pension reforms in EU countries before and after 2008

2017 ◽  
Vol 33 (3) ◽  
pp. 225-239 ◽  
Author(s):  
Aaron George Grech
Keyword(s):  
Financial Crisis ◽  
Negative Impact ◽  
Reform Process ◽  
2008 Financial Crisis ◽  
Pension Reforms ◽  
Permanent Change ◽  
Eu Countries ◽  
Before And After ◽  
The 2008 Financial Crisis ◽  
State Pension

AbstractMany EU countries have been carrying out substantial state pension reforms since the mid-1990s. This article studies whether the reforms that were carried out in ten EU countries before and after the 2008 financial crisis are different. This is done through an analysis of the different elements of these reforms and also by comparing pension entitlements after each set of reforms. The main conclusion is that the pre-crisis reforms were much stronger and had a more negative impact on women than the post-crisis reforms. It is harder to determine whether this represents a temporary break in the reform process or a permanent change in the orientation of pension reforms in these ten countries.

Turn-of-month effect in the Indian currency market

2015 ◽  
Vol 11 (2) ◽  
pp. 232-243 ◽  
Author(s):  
Satish Kumar
Keyword(s):  
Financial Crisis ◽  
Least Square ◽  
Sample Period ◽  
Currency Markets ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Currency Market ◽  
Before And After ◽  
Calendar Anomalies ◽  
Ordinary Least Square Regression

Purpose – The purpose of this paper is to examine the presence of the turn-of-month effect in the Indian currency market for selected currency pairs: USD-INR, EUR-INR, GBP-INR and JPY-INR, from January 1999 to April 2014. Design/methodology/approach – Ordinary least square regression analysis is used to examine the presence of the turn-of-month effect and to test the efficiency of the Indian currency market. The characteristics of the returns during the turn-of-month days are compared with that of the non-turn-of-month trading days. The sample period is later divided into two sub-periods, that is, pre- and post-2008 to capture the behavior of returns before and after the 2008 financial crisis. Findings – The results indicate the existence of pricing patterns which are unique to individual currencies. For the entire sample period, USD and JPY exhibit turn-of-month effect and the returns in turn-of-month trading days are significantly lower than the returns during non-turn-of-month trading days. For the sub-period before 2008, all the currencies exhibit significant turn-of-month effects and the returns in the turn-of-month trading days are significantly lower than those in the non-turn-of-month trading days. However, post-2008; this effect vanishes for all the currencies except for USD. Practical implications – The results have important implications for both traders and investors. The findings suggest that the investors might not be able to earn excess profits by timing their positions in some particular currencies taking the advantage of turn-of-month effect which in turn indicates that the currency markets have become more efficient with time. The results are in conformity with those reported for the developed markets. Originality/value – To the best of the author’s knowledge, no study has yet examined these calendar anomalies in the currency markets using data which covers two important periods, pre-2008 and post-2008. Therefore, we provide a pioneer study in which we analyze the calendar anomalies in an emerging currency market (India) by segregating the data before and after 2008 financial crisis.

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