Review essay

THE GAZE OF THE WEST AND FRAMINGS OF THE EAST, SHANTA NAIR-VENUGOPAL (ED.) (2012) Basingstoke: Palgrave Macmillan, XV + 264 pp. ISBN: 978-0-230-30292-1, h/bk, £66.0

ID1 Paper Prize Winners

A list of ID1 Paper Prize Winners from 2010-2015

Social Psychology And Marketing: The Consumption Game. Understanding Marketing And Consumer Behavior Through Game Theory

Consumer psychology provides enough evidence that consumer behavior is not just one side of our existence, but, as a matter of fact, it is a central dimension of our everyday lives, engaging us into changing and defining our identity, beliefs, attitudes and practices. In relation to this, commodification has reached us on all levels: everything that people created, produced and developed over the years, during the post-industrial era, can be commodified and sold to a specific market. Commodification and increased consumption are crossing the line between values and needs, production and creation, identity and capital accumulation, thus making people constantly expecting a payoff while engaging in social, cultural and economic transactions. In this article we argue that we can use the models of game theory to understand socio-economic phenomena such as consumption, B2C marketing and market dynamics.Game Theory, consumer behaviour, commodification, decision theory, marketing

The Financial Crisis - Global Governance Failure?

The asymmetries created by the non-conventional threats tend to lean the international security toward its human approach. Nevertheless, we now have to deal with the need for international cooperation and with finding complex solution to complex global issues. The international scene can be defined through its need for security and cooperation. This paper aims to analyze the international relations in three directions: the relationship between global governance and international security, the impact of the financial crisis on the world and the need for a new global governance architecture as a solution for stability and sustainability. Considering recent events, we need to find a new paradigm for global governance. The aim of this paper is to put forward the need for global governance reform through government networks. In addition, I consider a heterarchic vision of the new world order.global governance, financial crisis, international security

Intraportfolio Litigation Essay

The modern trend is for investors to diversify. Shareholders who own one S&P 500 firm tend to own many of the others as well. This trend casts doubt on the traditional compensation and deterrence rationales for legal rules that hold corporations liable for the acts of their agents. Today, when A Corp sues B Corp (for breach of contract, theft of trade secrets, or any other legal wrong), many of the same shareholders own both the plaintiff and the defendant. For these shareholders, damages just shift money from one pocket to another, minus of course lawyer fees. We offer here a new rationale for corporate liability in such cases of “intraportfolio litigation.” Although corporae managers are typically rewarded for maximizing firm profits, what shareholders really care about is overall portfolio value. Firm-on-firm lawsuits can reduce principal-agent conflict by assigning intraportfolio costs to the managers responsible for them. Firm-specific financial data thus become a better tool for diversified shareholders to use in motivating and evaluating managers. Not all intraportfolio litigation can be justified on informational grounds, however. For example, securities fraud class actions against corporations lack informational value because the damages awards overstate the intraportfolio harm. Our theory thus provides lawmakers with a framework for distinguishing between value-creating and value-destroying lawsuits among diversified shareholders

Making new spaces in between: A post-reflective essay weaving postcolonial threads into North American homiletics

This post-reflective essay is intended to provide common themes/threads that repeatedly appear throughout the consultation papers. However, it should be noted that though we distill and present these threads, not only numerous voices can remain unearthed but also the threads in themselves are porous, hybrid, changing, thus resonating. The threads that we identified in the papers are as follows: Hybridity and Identity in Contemporary Homiletic, Third Space, Loss and Memory, Performative Element, Context, Postcolonial Hermeneutics/Imagination, and Self-Reflexivity. In summary, these threads can be described in the following way: First, hybrid identity is closely related with Third Space, because postcolonial preaching is to create a Third Space where hybrid identity is forged. Thus, the understanding of both concepts is crucial for postcolonial preaching. Second, the lost should be recovered since under the influence of neo/colonialism, different elements (including memory) of the past that construct identities are lost, displaced and/or removed. Third, performative element is to be considered, focusing not only how and what to preach but also where to preach. Fourth, it is important to have synchronic and diachronic views of context as well as understanding of the inherent power dynamic within contexts. Fifth, postcolonial hermeneutics/imagination is needed to revision reality in historical, dialogical, and diasporic dimension. Finally, self-reflexivity is always required in order not to reproduce colonial discourse

Lessons from the Current Financial Crisis. A Risk Management Approach

In the last twenty years, the financial risk management has gained an important role for the companies and financial institutions. Financial innovations have improved the efficiency of risk management process, but at the same time, they have imposed new challenges for market participants and their supervisors in the areas of systemic risk. An important feature of periods of financial innovation is that the rapid increase in new products and changes in the structure of those markets can outpace the development of the risk management and processing and settlement infrastructure. The current financial crisis has revealed significant weaknesses in risk management practices across the financial services industry. This paper analyses the main lessons that can be drawn from the current financial crisis in order to improve the financial risk management.risk management, financial crisis, lessons, credit derivatives, financial innovation, systemic risk