scholarly journals Implikationen der neuen europäischen Ökonomie

2006 ◽  
Vol 36 (144) ◽  
pp. 325-341 ◽  
Author(s):  
Hans-Jürgen Bieling
Keyword(s):  
Financial Markets ◽  
European Integration ◽  
Financial Integration ◽  
Dominant Role ◽  
Economic Indicators ◽  
Securities Markets ◽  
The Us ◽  
Mode Of Operation

From the mid 1980s onwards, successive deepening and widening of European integration has led to the emergence of a new European economy. Its mode of operation is increasingly subjected to the dynamics of global and European financial markets. This article addresses the question inasmuch financial integration has an impact on the transformation of continental European systems of production and innovation. It argues that this impact is rather negative. For, although financial integration is geared towards the US model, it is not able to capitalise on its economic advantages. On the contrary, economic indicators underline that the previous productive strength and innovative ability of continental European systems are impaired by the dominant role of securities markets.

scholarly journals Facing financialization in the housing sector: A human right to adequate housing for all

2020 ◽  
Vol 38 (2) ◽  
pp. 94-114
Author(s):  
Ingrid Leijten ◽  
Kaisa de Bel
Keyword(s):  
Human Rights ◽  
Financial Markets ◽  
Dominant Role ◽  
Local Level ◽  
Wealth Accumulation ◽  
Housing Conditions ◽  
Human Right ◽  
Social Good ◽  
The Right

Housing is increasingly seen as a vehicle for wealth accumulation rather than a social good. ‘Financialization’ of housing refers to the expanding and dominant role of financial markets and corporations in the field of housing, leading to unaffordable and insufficient housing and discrimination. Although clearly linked to the right to adequate housing, financialization and its effects are not often viewed from a human rights perspective. This article fleshes out this important link by illuminating the standards set in relation to the right to adequate housing enshrined in Article 11(1) ICESCR. It is shown that recently, human rights bodies have confronted the issue of financialization more directly, translating general requirements to this particular issue. Moreover, efforts at UN level are mirrored in initiatives at the local level, signalling the beginning of a shift towards a paradigm that complies with human rights. The financialization of housing and the response of human rights also allow for addressing a more general issue, namely the potential of majority protection in times of human rights backlash. In this regard, it is worth emphasising that human rights such as the right to adequate housing protect not only the extreme poor. In the context of financialization, this may contribute to better housing conditions as well as reconnect people to their human rights.

scholarly journals The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)

2018 ◽  
Vol 11 (1) ◽  
pp. 155-169 ◽  
Author(s):  
Yakov M. Mirkin ◽  
Karina M. Lebedeva
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Real Exchange Rates ◽  
Oil Prices ◽  
Statistical Modelling ◽  
Secondary Importance ◽  
Cause And Effect ◽  
The Us ◽  
Global Investors

The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of Latin America (through the lens of stock markets and national currencies). The cause and effect mechanisms of this dependency are examined. We characterize the countries as analogous substitutes for investors (abundant similarities include: models of collective behaviour, ideology, model and structure of the economy, model of the financial sector, highly speculative markets in shares and currencies). The article explains an extremely limited role of the internal (primarily retail) investors in determining dynamics of the financial market. The central role of non-resident actors (global financial institutions and institutional investors) in the dynamics of the markets of Russian and Brazil is established. We demonstrate that for Russia and Brazil sources of foreign portfolio investments coincide. This includes Anglo-Saxon centers, specifically the US and British offshore jurisdictions, and the global centers of secondary importance (the Netherlands and Luxembourg). The decision making models of global investors in Russian and Brazil are examined: stock prices are driven by the oil prices, and in part by the US stock market, and rouble and real exchange rates follows oil prices and the EUR-USD currency pair. Analysis and conclusions made in the article are supported by a significant volume of statistical modelling. 

scholarly journals Corporate social responsibility in the Canadian context: the new role of corporations in community involvement and social issues

2021 ◽  
Author(s):  
Mary K. Foster ◽  
Agnes B. Meinhard
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Issues ◽  
Dominant Role ◽  
Safety Net ◽  
The Body ◽  
Area Of Interest ◽  
The Us ◽  
Corporate Social

[First paragraph of Introduction]: The rapidly growing literature investigating corporate social responsibility (CSR) attests to the world-wide interest in this trend, both from an academic perspective and as a legitimate component of commercial success (Burson-Marsteller, 2000; Waddock & Graves, 1997). To date, most of the research has been conducted in the US, and indeed research interest in this topic dates back to the 1930s and 1940s (Carroll, 1999). The body of knowledge about CSR in Canada is more modest and has mostly focused on investigating social disclosure from an accounting perspective (Levin, 1982; Zeghal & Ahmed, 1990). One reason for this narrow focus has been historical. Unlike in the US, the Canadian government has been the primary architect, builder and funder of the social safety net. Until very recently, this dominant role of government has preempted the need for widespread corporate participation in the provision of social services. Thus tracking the nature and scope of CSR activities in the private sector has not been a major area of interest for Canadian researchers. Indeed, as recently as the 1980s, much of the CSR focus in Annual Reports of Canadian companies was on internal human resource issues such as employee health, safety and training, and not on community and social service issues (Zeghal & Ahmed, 1990). Keywords: CVSS, Centre for Voluntary Sector Studies, Working Paper Series,TRSM, Ted Rogers School of Management Citation:

scholarly journals Patterns in Invoicing Currency in Global Trade

2020 ◽  
Vol 20 (126) ◽  
Author(s):  
Emine Boz ◽  
Camila Casas ◽  
Georgios Georgiadis ◽  
Gita Gopinath ◽  
Helena Le Mezo ◽  
...  
Keyword(s):  
Dominant Role ◽  
Global Trade ◽  
Data Set ◽  
The Us ◽  
Overall Stability ◽  
Us Dollar ◽  
Pass Through ◽  
Exchange Rate Pass Through ◽  
Invoicing Currency

This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other currencies for more than 100 countries since 1990. The evidence from these data confirms findings from earlier research regarding the globally dominant role of the US dollar in invoicing – despite the comparatively smaller role of the US in global trade – and the overall stability of invoicing currency patterns. The evidence also points to several novel facts. First, both the US dollar and the euro have been increasingly used for invoicing even as the share of global trade accounted for by the US and the euro area has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries have seen significant shifts toward euro invoicing. Third, as suggested by the dominant currency paradigm, countries invoicing more in US dollars (euros) tend to experience greater US dollar (euro) exchange rate pass-through to their import prices; also, their trade volumes are more sensitive to fluctuations in these exchange rates.

scholarly journals Нова регулација рејтинг агенција и њен утицај на финансијска тржишта // The new regulation of rating agencies and its influence on financial markets

2012 ◽  
Vol 10 (16) ◽  
pp. 155
Author(s):  
Горан Радивојац
Keyword(s):  
Financial Markets ◽  
Dominant Role ◽  
Business Practices ◽  
The European Union ◽  
Rating Agencies ◽  
The Public ◽  
Current Events ◽  
Main Culprit ◽  
New Situation

Резиме: Криза глобалног финансијског тржишта у прошлој години је еволуирала у кризу еврозоне. У јавности земаља чланица Европске уније, нарочито у политичким дискусијама „евро-политичара“, као главни кривац за новонасталу ситуацију обиљежене су рејтинг агенције. У овом раду говори се о улози и историјском развоју рејтинг агенција, елементима рејтинговања и њиховој пословној пракси. Уважавајући чињеницу да рејтинг агенције данас имају доминантну улогу у усмјеравању токова капитала на глобалном нивоу, у тексту који слиједи презентовано је виђење аутора актуелних дешавања на финансијским тржиштима. Закључци представљају синтезу теоријских ставова различитих аутора о наведеној теми и информација расположивих у јавности чије тумачење износи аутор на основу свог до сада стеченог знања и искуства у овој области.Summary: The crisis in global financial markets, in the last year, has evolved into a crisis of the euro zone. In the countries of the European Union, especially in political discussions of “Euro-politicians” rating agencies are marked as the main culprit for the new situation . This paper discusses the historical development and the role of rating agencies, the rating elements and their business practices. Recognizing the fact that rating agencies now play a dominant role in directing capital flows at the global level, in the text that follows the author presents the current events in financial markets. The conclusions are a synthesis of theoretical views of different authors on the topic and the information available to the public whose interpretation the author presents based on his so far acquired knowledge and experience in this field.

scholarly journals TRANSATLANTIC AFFILIATIONS OF SCIENTIFIC COLLABORATION IN STRATEGIC MANAGEMENT: A QUARTER-CENTURY OF BIBLIOMETRIC EVIDENCE

2020 ◽  
Vol 21 (3) ◽  
pp. 627-646
Author(s):  
Oskar Kosch ◽  
Marek Szarucki
Keyword(s):  
Strategic Management ◽  
Scientific Collaboration ◽  
Web Of Science ◽  
Dominant Role ◽  
Knowledge Exchange ◽  
The United States ◽  
Quarter Century ◽  
The Us ◽  
First Time

The main objective of the paper is to identify and explore patterns and dynamics of transatlantic scientific collaboration in the field of strategic management between the United States (US) and European countries (EUC) during the last quarter century. Scholarly connections between countries, cities and institutions on the basis of co-author affiliations were analysed to determine the knowledge flow from a geographical perspective. This is the first time international scientific collaboration between researchers in the field of strategic management has been studied to such an extent. We employed all sources of relevant data from the Web of Science and Scopus databases and explored 453 results. Utilizing a bibliometric analysis, our study offers a comprehensive and up-todate identification and assessment of the current situation and dynamics of transatlantic scientific collaboration. The obtained results confirm the dominant role of the US in this type of collaboration. Also, the dominant role of several clusters in terms of collaboration, both on country and institution levels can also be observed. The study confirms the weaker position of Eastern and Central Europe countries in this collaboration and provides some recommendations to increase this type of knowledge exchange in the future.

Petro-RMB? The oil trade and the internationalization of the renminbi

2019 ◽  
Vol 95 (5) ◽  
pp. 1131-1148 ◽  
Author(s):  
Maha Kamel ◽  
Hongying Wang
Keyword(s):  
Financial Markets ◽  
Alternative Energy ◽  
Oil Futures ◽  
International Currency ◽  
Alternative Energy Sources ◽  
Long Run ◽  
The Us ◽  
Us Government

Abstract In this article, we examine China's promotion of the renminbi (RMB) in international oil trade and explore its implications for the international currency system in the short and the long term. The article traces the rise of the RMB in international oil trade in recent years and provides an analysis of its impact on the internationalization of the Chinese currency. We argue that despite the increasing use of the yuan in oil trade in recent years, in the short term it is highly unlikely that a petro-RMB system will emerge to rival the petrodollar system. Unlike the petrodollar, which combines the qualities of a master currency, a top currency and a negotiated currency, China lacks the economic leadership and the political and geopolitical leverages to make the RMB a major petrocurrency. Although the emergence of the RMB-denominated Shanghai oil futures is an important development, the absence of highly developed financial markets and a strong legal system in China hinders its potential. In the long run, the RMB may take on a more prominent role in the international oil trade as China's weight as an oil importer rises. More importantly, the overuse of financial sanctions by the US government has begun to undermine the role of the dollar within and beyond the oil trade. In addition, the rise of alternative energy sources will diminish the centrality of oil in the world economy, thus reducing the significance of petrocurrencies—whether the dollar or the RMB—in shaping the international currency system.

Corporate social responsibility in the Canadian context: the new role of corporations in community involvement and social issues

2021 ◽  
Author(s):  
Mary K. Foster ◽  
Agnes B. Meinhard
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Issues ◽  
Dominant Role ◽  
Safety Net ◽  
The Body ◽  
Area Of Interest ◽  
The Us ◽  
Corporate Social

[First paragraph of Introduction]: The rapidly growing literature investigating corporate social responsibility (CSR) attests to the world-wide interest in this trend, both from an academic perspective and as a legitimate component of commercial success (Burson-Marsteller, 2000; Waddock & Graves, 1997). To date, most of the research has been conducted in the US, and indeed research interest in this topic dates back to the 1930s and 1940s (Carroll, 1999). The body of knowledge about CSR in Canada is more modest and has mostly focused on investigating social disclosure from an accounting perspective (Levin, 1982; Zeghal & Ahmed, 1990). One reason for this narrow focus has been historical. Unlike in the US, the Canadian government has been the primary architect, builder and funder of the social safety net. Until very recently, this dominant role of government has preempted the need for widespread corporate participation in the provision of social services. Thus tracking the nature and scope of CSR activities in the private sector has not been a major area of interest for Canadian researchers. Indeed, as recently as the 1980s, much of the CSR focus in Annual Reports of Canadian companies was on internal human resource issues such as employee health, safety and training, and not on community and social service issues (Zeghal & Ahmed, 1990). Keywords: CVSS, Centre for Voluntary Sector Studies, Working Paper Series,TRSM, Ted Rogers School of Management Citation:

Chronic Pain: Fundamental Scientific Considerations, Specifically for Legal Claims

2013 ◽  
Vol 18 (1) ◽  
pp. 1-18 ◽  
Author(s):  
Robert J. Barth
Keyword(s):  
Health Outcomes ◽  
Pain Perception ◽  
Driving Forces ◽  
Psychological Treatment ◽  
Dominant Role ◽  
Meta Analysis ◽  
General Medicine ◽  
Pain Syndrome ◽  
Problematic Relationship

Abstract Scientific findings have indicated that psychological and social factors are the driving forces behind most chronic benign pain presentations, especially in a claim context, and are relevant to at least three of the AMA Guides publications: AMA Guides to Evaluation of Disease and Injury Causation, AMA Guides to Work Ability and Return to Work, and AMA Guides to the Evaluation of Permanent Impairment. The author reviews and summarizes studies that have identified the dominant role of financial, psychological, and other non–general medicine factors in patients who report low back pain. For example, one meta-analysis found that compensation results in an increase in pain perception and a reduction in the ability to benefit from medical and psychological treatment. Other studies have found a correlation between the level of compensation and health outcomes (greater compensation is associated with worse outcomes), and legal systems that discourage compensation for pain produce better health outcomes. One study found that, among persons with carpal tunnel syndrome, claimants had worse outcomes than nonclaimants despite receiving more treatment; another examined the problematic relationship between complex regional pain syndrome (CRPS) and compensation and found that cases of CRPS are dominated by legal claims, a disparity that highlights the dominant role of compensation. Workers’ compensation claimants are almost never evaluated for personality disorders or mental illness. The article concludes with recommendations that evaluators can consider in individual cases.

Peran Bank Syariah: Menuju Perekonomian Masyarakat Madani

2019 ◽  
Vol 1 (2) ◽  
pp. 131-144
Author(s):  
Dini Maulana Lestari ◽  
M Roif Muntaha ◽  
Immawan Azhar BA
Keyword(s):  
Financial Markets ◽  
Islamic Law ◽  
Financial Service ◽  
Islamic Banks ◽  
Free Society ◽  
The Public ◽  
Turn On ◽  
The People ◽  
Strategic Role

Islamic banks are present in the community as financial institutions whose activities are based on the principles of Islamic law for the benefit of the people. This study aims to determine the strategic role of Islamic Banks as financial service institutions, the importance of the existence of Islamic Banks and Islamic-based markets and financial instruments in them. In its development, Islamic banks have a role as institutions that turn on public funds, channel funds to the public, transfer assets, liquidity, reallocation of income and transactions. In the Indonesian economic system, the existence of Islamic Banks is important as an alternative solution to the problem of conflict between bank interest and usury. Islamic financial markets and instruments provide a free society of interest and follow a different set of principles. Distribution of profit/ loss according to evidence of participation in the management fund. The division of rental income in the form of musharaka.

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