2008 financial crisis
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The years following the 2008 financial crisis have been characterized by the emergence of new financial service providers, called fintech. The term is defined and understood differently in the literature. There is an agreement that fintech is composed of the words "financial" and "technology". Regarding the different views and definitions, there is great heterogeneity in the literature and this article tries to systematize them. Furthermore, different justifications for its existence are examined and a proposal for categorization is made. Argumentatively, various opportunities and risks are highlighted that arise in connection with Fintech. Finally, various ideas and starting points for further research are derived from the arguments. Keywords: Fintech, Tech innovation, Financial technology


2021 ◽  
Author(s):  
Jennifer Payne

Schemes of arrangement are an important and flexible mechanism, which can be used to reorganise a company's capital. Schemes have undergone a renaissance over the last twenty years, particularly as a debt restructuring device in the aftermath of the 2008 financial crisis when companies and their advisors have needed to develop effective tools for dealing with financial distress. The COVID-19 pandemic has provided a further incentive for jurisdictions to ensure that they have an effective debt restructuring mechanism in place. Schemes have also become the mechanism of choice for recommended takeovers. This book performs a critical, contextual and comparative analysis of schemes and their uses, examines recent developments in this area, including the Corporate Insolvency and Governance Act 2020, and considers whether further reform is needed to ensure that schemes continue to develop as an indispensable tool for companies for the future.


Author(s):  
Gloria Julieta Zarco

Europe in general and Spain in particular are still experiencing the consequences of the 2008 financial crisis. Spanish cultural narratives have imagined other possible scenarios around a financial crisis that has not only been an economic one, but also a social one. In that context, Spanish literature was used not only as a means to elaborate coherent narratives in times of crisis but also as a space to create other possible worlds. The novels Un incendio invisible (2011), by Sara Mesa, and Por si se ve la Luz (2013), by Lara Moreno, are both set in imaginary places in which their protagonists – sometimes driven by desire and other times by necessity – survive in hostile, abandoned and primitive places. The article attempts to analyse the dominance of the construction of dystopian places and the creation of ‘another possible world’ as a consequence of the financial crisis of 2008.


Buildings ◽  
2021 ◽  
Vol 11 (11) ◽  
pp. 529
Author(s):  
Francisco Pereira Monteiro ◽  
Vitor Sousa ◽  
Inês Meireles ◽  
Carlos Oliveira Cruz

For the majority of the contractual arrangements used in construction projects, the owner is not responsible for the cost deviations due to the variability of labor productivity or material price, amongst many other aspects. Consequently, the cost performance of a project may be entirely distinct for the owner and the contractor. Since the majority of quantitative research on cost estimation and deviation found in the literature adopts the owners’ perspective, this research provides a contribution towards modeling costs and cost deviation from a contractor’s perspective. From an initial sample of 13 residential buildings and 10 office building projects, it was possible to develop models for cost estimation at the early stage of development, including both endogenous and exogenous variables. Although the sample is relatively small, the authors were able to fully analyze all the cost data, using no secondary sources of data (which is very frequent in cost modeling studies). The statistically significant variables in the cost estimation models were the areas above and below ground and the years following the 2008 financial crisis, including the international bailout (2011–2014) period. For estimating the unit cost, a nonlinear model was obtained with the number of underground and total floor, the floor ratio, and the years following the 2008 financial crisis, including the international bailout (2011–2014) period as predictors. For the office buildings, a statistically significant correlation was also found between the cost deviation and number of underground floors.


2021 ◽  
pp. 86-110
Author(s):  
Na Dai

Due to the lack of regulations in the hedge fund industry and the great discretion given to hedge fund managers during the daily operations, limited partnership agreements are the most important if not the only tool for investors to incentivize and monitor hedge fund managers and protect their own interests. This chapter reviews the current literature on hedge funds contractual terms and their implications for fund performance and risk taking, before discussing the variation of the contracts conditional on the jurisdiction of the hedge fund. Finally, the development of hedge funds limited partnership agreements is investigated as many jurisdictions have imposed new regulations on hedge funds after the 2008 financial crisis.


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