scholarly journals Tenure transitions at the edges of ownership: Reinforcing or challenging the status quo?

2021 ◽  
pp. 0308518X2110389
Author(s):  
Rachel Ong ViforJ ◽  
William A.V. Clark ◽  
Susan J. Smith ◽  
Gavin A. Wood ◽  
William Lisowski ◽  
...  
Keyword(s):  
Financial Services ◽  
Global Financial Crisis ◽  
Housing Tenure ◽  
Drop Out ◽  
Life Chances ◽  
Latent Demand ◽  
The Status ◽  
The Usa ◽  
The Uk ◽  
Policy Shifts

This paper provides an empirical overview of housing tenure transitions in Australia, the UK and the USA during a period of unprecedented economic instability in 2001–2017. Focusing on the neglected theme of episodic homeownership, we profile those who straddle the tenure divide by moving into and out of renting from time to time. Using panel data we model this ‘churn’ in three jurisdictions, showing that even the dislocation of a global financial crisis does not eclipse the independent impact of life events during rental spells. We find that whatever individuals bring from prior ownership, shocks occurring during a rental spell – unemployment, loss of a partner, additional dependent children – can be sufficient to prevent return. Churning is also health- and age-selective, adding ‘drop-out’ among the old to ‘lock-out’ for the young as a policy concern. Even those who successfully regain owner-occupation increase their credit and investment risks without necessarily improving their housing position. Overall ‘churners’ are a diverse constituency whose life chances are powerfully shaped by episodic ownership: what they share is time spent in an unacknowledged, under-instituted space between tenures where there is latent demand for innovative financial services and untapped potential for radical policy shifts.

The Lived Experience of Financialization at the UK Financial Fringe

2021 ◽  
pp. 1-22
Author(s):  
LINDSEY APPLEYARD ◽  
CARL PACKMAN ◽  
JORDON LAZELL ◽  
HUSSAN ASLAM
Keyword(s):  
Lived Experience ◽  
Financial Services ◽  
Global Financial Crisis ◽  
Credit Market ◽  
Short Term ◽  
Dramatic Decline ◽  
The Everyday ◽  
The Subject ◽  
The Uk ◽  
The Impact

Abstract The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization.

Developing Trade in Services

2019 ◽  
Vol 250 ◽  
pp. R30-R33
Author(s):  
Alexis P. Lautenberg
Keyword(s):  
Financial Services ◽  
Trade In Services ◽  
Executive Summary ◽  
Services Sector ◽  
Regulatory Standards ◽  
European Regulatory ◽  
The Status ◽  
The Government ◽  
The Uk ◽  
The Eu

Executive SummaryServices are simultaneously the most important sector of the UK economy and the sector facing the biggest challenge as a result of Brexit. The prospective departure from the European Single Market reduces the UK to the status of ‘3rd country’ in respect of services. Accessing the internal market will depend on both subjective and objective conditions that differ from sector to sector, requiring detailed and highly specific arrangements for such industries as aviation and financial services.In practice, the EU can be expected to use these circumstances to discourage the UK from significantly diverging from European regulatory norms, as a matter of policy. In view of the weakness of, and uncertainty surrounding, international moves to oversee, let alone to further liberalise, trade in services, Brexit will thus leave the UK's services sector – and especially financial services – uniquely isolated and exposed. The government will hence need to consider carefully the costs of decisions to diverge from EU regulatory standards, and should be giving great priority to establishing clear objectives for close cooperation between the UK and the EU policy makers and regulators.

Implications of online funding regulations for small businesses

2014 ◽  
Vol 22 (4) ◽  
pp. 349-364 ◽  
Author(s):  
Peter Yeoh
Keyword(s):  
Small Businesses ◽  
Global Financial Crisis ◽  
Secondary Data ◽  
Added Value ◽  
Primary Data ◽  
Content Type ◽  
Investment Opportunities ◽  
The Usa ◽  
Small Investors ◽  
The Uk

Purpose – This paper aims to examine the implications of exemptions to facilitate small businesses’ access to crowdfunding (CF) schemes. The aftermath of the 2008 global financial crisis and even now witnessed many small profits and non-profits encountering significant difficulties in accessing funding from the conventional sources and on many occasions have to turn to the newly emerging Internet-enabled donation or product compensation CF schemes. Access to securities-based CF schemes has, however, been seriously difficult due to securities laws obstacles. Regulatory authorities in the USA and the UK have responded with exemptions to facilitate small businesses’ access to CF. Design/methodology/approach – The paper driven by the qualitative doctrinal approach would rely extensively on primary data from the applicable regulations and secondary data from industry sources and other publicly available commentaries. Findings – Securities-based CF schemes hitherto heavily restricted in the USA and the UK are under current regulatory interventions-accorded exemption status, thereby enabling enhanced access for those small businesses seeking alternatives to conventional financing and enhanced investment opportunities for small investors. The paper’s preliminary analysis suggests that the proposed new regulatory rules in the USA and the UK are generally well-balanced with adequate small investors’ protection, while simultaneously not hampering the innovative growth of small businesses with excessive restrictions. Further, the preparedness of the regulators to fine-tune the proposed rules as the CF industry evolves would likely ensure its orderly growth, thereby helping to address various humanitarian and social challenges in these jurisdictions. Originality/value – The added value of the analysis lies in its substantive evaluation of the proposed rules in both jurisdictions to ascertain the feasibility of securities-based CF schemes as alternatives for small businesses in relation to traditional financing and enhanced investment opportunities for small unsophisticated investors.

Quality of Publication in International Context

2017 ◽  
Author(s):  
N. Lalitha ◽  
Amrita Ghatak
Keyword(s):  
Social Sciences ◽  
Social Science ◽  
Social Science Research ◽  
Science Research ◽  
Comparative Performance ◽  
International Context ◽  
Global Context ◽  
The Status ◽  
The Usa ◽  
The Uk

This chapter analyses the status of India’s social science research (SSR) publications in global context. The outputs chosen to assess India’s comparative performance is the articles written and published by Indians in the field of social sciences either individually or in collaboration with researchers outside India. The study analysed journal articles published during 2008–14 drawn from Scopus database to examine the publication status of India in social sciences in an international context. The study found that the six-year period, 2009–14, India consistently ranks among the top 15 countries in the world. Discipline-wise analysis shows that the share of pure social science articles was significant but is declining. Of the total 30938 articles, 28 per cent are published with international collaboration. The USA and the UK contribute 52 per cent of total international collaborations.

London

2018 ◽  
Author(s):  
Richard Roberts
Keyword(s):  
New York ◽  
Financial Services ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Services Sector ◽  
The Us ◽  
The Global Financial Crisis ◽  
The Uk ◽  
The Impact ◽  
The Eu

At the onset of the Global Financial Crisis in 2007 London was one of the two foremost global financial centres, along with New York. London experienced a 12 per cent fall in wholesale financial services jobs in 2008–9, but a recovery got underway in 2010 and London’s wholesale financial services sector staged a wavering advance. But now there were new challenges, in particular the avalanche of financial regulation coming from the UK, the EU, the US and the G20. Fintech engendered new uncertainties. The impact of Brexit was uncertain, but mostly expected to be negative, at least in the short-term. Furthermore, there was growing competition from Asian and other financial centres. Nevertheless, London remained pre-eminent as one of the two largest global concentrations of wholesale financial services activity and at the top of the Global Financial Centres Index.

scholarly journals Shareholder empowerment, steps forward and steps back

2019 ◽  
Vol 27 (2) ◽  
pp. 169-196
Author(s):  
Saad Almohammed Alrayes
Keyword(s):  
Global Financial Crisis ◽  
Effective Means ◽  
Fiduciary Duty ◽  
Content Type ◽  
Shareholder Engagement ◽  
The Usa ◽  
The Global Financial Crisis ◽  
The Uk ◽  
The Impact

Purpose The global financial crisis of 2007-2008 prompted a significant debate on corporate governance and shareholder empowerment. A question arises as to whether shareholders ought to be further empowered to have a greater influence over the companies’ activities. Yet, it is not self-evident that shareholder empowerment ensures better-run companies’ corporate activities. Thus, the purpose of this paper is to critically examine, identify and explain the corporate regulation forms and control collectively to evaluate the effectiveness of shareholder empowerment fully. Design/methodology/approach To do so, this paper sets out a comparative analysis approach between two jurisdictions, the UK and Delaware in the USA. The paper further addresses by undertaking three case studies; Barclays Plc which illustrated the Comply or Explain role, AVIVA (2012) that concentrated on the impact of the shareholder revolt, and the case of Hills Stores Co. v. Bozic (2000), which involved a claim brought by shareholders on the grounds of a breach of fiduciary duty. Findings This paper argues that the shareholder empowerment theoretically provides an effective means through which corporate activities can be regulated. However, to do this, account must be taken that a distinction should be made between long-term and short-term investors to encourage shareholder engagement by responsible long-term investors. Furthermore, the shareholders can exercise their powers effectively and influence the Board’s decision to award executive compensation. Originality/value This paper offered two distinct contributions: assessing whether in times of crisis shareholder empowerment represents a way to regulate corporate activities and by assessing the distinction between the perception of shareholder empowerment and the reality in practice.

scholarly journals Building back fairer in Greater Manchester and the country

2021 ◽  
Vol 8 (10) ◽  
Author(s):  
Michael Marmot
Keyword(s):  
Life Expectancy ◽  
Well Being ◽  
Status Quo ◽  
Health Improvement ◽  
The Status ◽  
The Usa ◽  
Social Environmental ◽  
The Uk ◽  
Inequalities In Mortality ◽  
Health And Well Being

A summary of our analyses in Greater Manchester (GM), and the northwest (NW) region, might be: the NW is like England as a whole only more so. The life expectancy drop in England in 2020 was 1.2 years in men and 0.9 years in women—shocking, but not as high as in the NW. COVID-19 mortality rates were high in England; 25% higher in the NW. Inequalities in mortality are high in England; bigger in the NW. The title, Build Back Fairer , is a deliberate echo of the Build Back Better mantra, showing that the levels of social, environmental and economic inequality in society are damaging health and well-being. As the UK emerges from the pandemic, it would be a tragic mistake to re-establish the status quo that existed pre-pandemic—a status quo marked in England, over the decade from 2010, by a stagnation of health improvement that was more marked than in any rich country other than Iceland and the USA; by widening health inequalities; and by a fall in life expectancy in the most deprived 10% of areas outside London. That stagnation, those social and regional inequalities, and deterioration in health for the most deprived people are markers of a society that is not meeting the needs of its members.

scholarly journals Discipline, debt and coercive commodification: Post-crisis neoliberalism and the welfare state in Ireland, the UK and the USA

2018 ◽  
Vol 38 (3) ◽  
pp. 482-504 ◽  
Author(s):  
Fiona Dukelow ◽  
Patricia Kennett
Keyword(s):  
Global Financial Crisis ◽  
Welfare Capitalism ◽  
The Great Recession ◽  
Social Divisions ◽  
The Usa ◽  
Liberal Capitalism ◽  
International Comparative ◽  
The Uk ◽  
Market Relations ◽  
The Welfare State

Ireland, the UK and the USA are heterogeneous examples of liberal worlds of welfare capitalism yet all three countries were deeply implicated in the 2008 global financial crisis. Examining these three countries together provides the opportunity to further develop an international comparative political economy of instability in the context of the globalised and financialised dimensions of Anglo-liberal capitalism and disciplinary governance. Our analysis is guided by the concept of disciplinary neoliberalism (Gill, 1995) through which we explore: (i) the dynamics that have shaped the impacts of and responses to the Great Recession; (ii) the ways in which state-market relations, shaped by differentiated accommodations to market imperative or market discipline, have been used as disciplinary tools and how these have interacted with existing social divisions and iii) the implications for shaping conditions for resistance. We suggest that the neoliberal pathways of each country, whilst not uniform, mark a ‘step-change’ and acceleration in the operation of disciplinary neoliberalism, and is particularly evident in what we identify as the coercive commodification of social policy.

Interdisciplinarity, Cultural Studies, Queer: Historical Contexts and Contemporary Contentions in France

Paragraph ◽  
2012 ◽  
Vol 35 (2) ◽  
pp. 215-232 ◽  
Author(s):  
Lisa Downing
Keyword(s):  
Cultural Studies ◽  
Queer Theory ◽  
French Studies ◽  
The Status ◽  
French Speaking ◽  
The Usa ◽  
Anglo American ◽  
The One ◽  
Anglophone World ◽  
The Uk

This article offers a comparative examination of the status of ‘interdisciplinarity’, ‘cultural studies’ and ‘queer’ in the discipline of French studies in the Anglophone world and in France. It is argued that, while the intellectual origins of both interdisciplinarity and queer theory are French, a series of disavowals and appropriations has de-gallicized them. On the one hand, the cultural hegemony of English studies in the USA and the UK has led to a colonization and anglicization of continental thought. On the other, the resistance to cultural studies within the Hexagone has meant that work done in critical sexuality studies within the Anglo-American world over the past forty years is only now beginning to be felt within French-speaking contexts. In tracing this double history of dislocation, the article contextualizes the difficulty of thinking queer in properly French terms — and the importance of doing so.

Paris

2018 ◽  
Author(s):  
Laure Quennouëlle-Corre
Keyword(s):  
Asset Management ◽  
Financial Services ◽  
Global Financial Crisis ◽  
The European Union ◽  
Financial Centre ◽  
Banking Stability ◽  
Long Term Trends ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Near Future

This chapter discusses Paris as an international financial centre and focuses on the role played by financial services and the numerous and various criteria that affect a financial centre’s competitiveness. It stresses both the long-term trends and the new circumstances that influence its current strengths and weaknesses compared to its main European competitors. The chapter analyses to what extent and how the Global Financial Crisis affected the financial activities of the French capital. Its banking stability, its active asset management industry, and its highly skilled labour market remain decisive advantages. The main uncertainty in the near future comes from the Brexit negotiations between the UK and the European Union, but there is also uncertainty arising from the development of technological delocalization of global firms’ financial activities.

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