Bank Window Dressing: A Re-Assessment and a Puzzle

2009 ◽  
Author(s):  
Shanshan Yang ◽  
Sherrill Shaffer
Keyword(s):  
Window Dressing

Compensating for limitations in domestic output performance? Member state delegation of policy competencies to regional international organizations

2020 ◽  
pp. 004711782097032
Author(s):  
Diana Panke
Keyword(s):  
Member State ◽  
International Organizations ◽  
Policy Area ◽  
Member States ◽  
Domestic Output ◽  
Window Dressing ◽  
Output Performance ◽  
Policy Goals ◽  
Energy States

Cooperation in regional international organizations (RIOs) can help member states to work toward and perhaps achieve policy goals that would not be feasible unilaterally. Thus, RIOs might be used as a means of states to compensate for domestic shortcomings in output performance. Do states equip RIOs with policy competencies in order to compensate corresponding domestic performance shortcomings? The analysis of a novel database on policy competencies of 76 RIOs between 1945 and 2015 reveals that usually RIOs are not usually used as window-dressing devices by which states disguise limited domestic output performance. Instead, governments tend to equip RIOs with policy competencies in order to further strengthen their already good output performance in most policy areas. However, in the policy area, ‘energy’ states tend to confer more competencies to their respective RIOs, the worse they perform domestically, indicating that output-related compensation dynamics might be at play in this field.

scholarly journals PHILOSOPHY AND POLITICAL AGENCY IN THE WRITINGS OF FREDERICK II OF PRUSSIA

2020 ◽  
pp. 1-24
Author(s):  
AVI LIFSCHITZ
Keyword(s):  
Eighteenth Century ◽  
Great Power ◽  
Political Agency ◽  
State Service ◽  
Commercial Society ◽  
Window Dressing ◽  
Close Analysis ◽  
The Status ◽  
Enlightenment Philosophy

Abstract Frederick II's writings have conventionally been viewed either as political tools or as means of public self-fashioning – part of his campaign to raise the status of Prussia from middling principality to great power. This article, by contrast, argues that Frederick's works must also be taken seriously on their own terms, and interpreted against the background of Enlightenment philosophy. Frederick's notions of kingship and state service were not governed mostly by a principle of pure morality or ‘humanitarianism’, as argued influentially by Friedrich Meinecke. On the contrary, the king's views were part and parcel of an eighteenth-century vision of modern kingship in commercial society, based on the benign pursuit of self-love and luxury. A close analysis of Frederick's writings demonstrates that authorial labour was integral to his political agency, publicly placing constraints on what could be perceived as legitimate conduct, rather than mere intellectual window-dressing or an Enlightened pastime in irresolvable tension with his politics.

scholarly journals Window dressing in the Active Share scores in publicly reported portfolios

2021 ◽  
pp. 234094442110246
Author(s):  
Laura Andreu ◽  
Carlos Forner ◽  
José Luis Sarto
Keyword(s):  
Positive Relationship ◽  
Tracking Error ◽  
Jel Classification ◽  
Tracking Errors ◽  
Window Dressing ◽  
Future Performance ◽  
Money Flows

Using a unique database that includes publicly disclosed fund holdings at the end of the quarter as well as the holdings in all non-publicly disclosed months, we found that some funds could alter their portfolios in publicly disclosed months to artificially increase their Active Share scores and consequently appear more active and take advantage of the positive relationship between Active Share and money flows. We show how, consistent with non-informed trades, these funds erode their future performance. However, these funds reach their objective of increasing future money flows. Moreover, we find that window-dresser funds can be identified by controlling the level of tracking error. The funds with high Active Share scores and low tracking errors have the highest levels of Active Share window dressing and the worst future returns. However, compared with less active funds, they are able to capture higher money flows. JEL CLASSIFICATION G23; G11

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