Clustering tales from the Greek construction sector: lessons from experience

The idea of increasing regional and national economic competitiveness through the implementation of cluster strategies is not something new. In each business sector, in each country, the creation of clusters has been used to capitalise on sector characteristics and address country specific productivity needs. While clusters have met with significant success in many context, the Greek context and in particularly the Greek Construction sector has not been so fruitful. This paper, through the development of a conceptual framework, questionnaires with 92 firms and interviews with 10 key firms, sought to investigate the critical success factors for the creation of a cluster within the challenging context of the Greek construction sector. Using evidence of good practicefrom other European countries facing similar challenges and the empirical data, the findings indicated a series of factors which firms could adopt, mitigate against or manage to help improve the potential success of the cluster. The findingstherefore have important implications for interventions not only by the state and local authorities that will encourage construction firms to participate in a cluster, but also by the managers/owners/practitioners for the creation of the required foundations for their participation in an environment where competitors cooperate

Heated debates and cool analysis: thinking well about financial ethics

Not for the first time, the banks and other financial institutions have got themselves – and the rest of us – into a mess, this time on an unprecedented financial and geographical scale. It is no surprise that opinions about causes, consequences and cures abound with ethical issues, as well as technical and economic concerns, a focus of attention. It is to be hoped that useful lessons for the future will be learned. In this chapter, however, we step back from a direct engagement with the stated ills of the financial system itself, whether actual or perceived, chronic or acute. Our starting point is that crisis in the financial system not only makes us stop and think; but it might also, particularly under conditions of moral panic, prevent us from thinking well. Our contention is that a further impediment to thinking well about financial crises is the lack of a substantial body of academic knowledge that might be termed ‘financial ethics’ – a corpus of well developed conceptual insights and appropriate empirical evidence. We identify some of the reasons for this situation and proffer some suggestions regarding what might be done to remedy it – including the development of knowledge that is as relevant to everyday practices during periods of normality as it is to providing perspectives on crisis. The chapter is structured as follows: the next section provides a perspective on debate during times of crisis; the middle section seeks to explain why academic financial ethics is not a significant constituent element of debate on the financial crisis post-2007; and the final two main sections explore ways in which an academic agenda for financial ethics might be constructed. In a curious way this chapter echoes some of the themes and especially the conclusion of David Bevan’s chapter in this work (chapter18) although the reasoning to the conclusion that finance ethics is an empty set follows a rather different Badiou-inspired path in chapter 18

Bank excess reserves in emerging economies: a critical review and research agenda

This paper reviews academic studies of excess reserves in the banking system of emerging economies from 2000 to 2014. While excess reserves in emerging countries have attracted increasing attention from scholars, virtually no work has reviewed and synthesised the extant knowledge. This paper takes the necessary step of consolidating and integrating the past literature on emerging country excess reserves. Focusing on articles published in major scholarly journals, we classify the existing literature on excess reserves into three broad taxonomies, namely excess liquidity sources, excess liquidity's effects, and the response policies of central banks of emerging countries. Achievements within each of the three research areas are reviewed, critical gaps identified, and recommendations for future research provided

A conceptual framework for changes in Fund Management and Accountability relative to ESG issues

Major developments in socially responsible investment (SRI) and in environmental, social and governance (ESG) issues for fund managers (FMs) have occurred in the past decade. Much positive change has occurred but problems of disclosure, transparency and accountability remain. This article argues that trustees, FM investors and investee companies all require shared knowledge to overcome, in part, these problems. This involves clear concepts of accountability, and knowledge of fund management and of the associated ‘chain of accountability’ to enhance visibility and transparency. Dealing with the problems also requires development of an analytic framework based on relevant literature and theory. These empirical and analytic constructs combine to form a novel conceptual framework that is used to identify a clear set of areas to change FM investment decision making in a coherent way relative to ESG issues. The constructs and the change strategy are also used together to analyse how one can create favourable conditions for enhanced accountability. Ethical problems and climate change issues will be used as the main examples of ESG issues. The article has policy implications for the UK ‘Stewardship Code’ (2010), the legal responsibilities of key players and for the ‘Carbon Disclosure Project’

Ethics and taxation : a cross-national comparison of UK and Turkish firms

This paper investigates responses to tax related ethical issues facing busines

The Financial Crisis and the Systemic Failure of Academic Economics

The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in economics. We trace the deeper roots of this failure to the profession’s focus on models that, by design, disregard key elements driving outcomes in real-world markets. The economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the public. This state of affairs makes clear the need for a major reorientation of focus in the research economists undertake, as well as for the establishment of an ethical code that would ask economists to understand and communicate the limitations and potential misuses of their models.financial crisis; academic moral hazard; ethic responsibility of researchers

Work Organisation and Innovation in Ireland

[Excerpt] Innovations in work organisation have the potential to optimise production processes in companies and improve employees’ overall experience of work. This report explores the links between innovations in work organisation – under the broader label of high performance work practices (HPWPs) – and the potential benefits for both employees and organisations. It draws on empirical evidence from three case studies carried out in the Republic of Ireland, where workplace innovations have resulted in positive outcomes and where social partners played a significant role in their design and development

The Financial Crisis and the Systemic Failure of Academic Economics

The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in economics. We trace the deeper roots of this failure to the profession’s focus on models that, by design, disregard key elements driving outcomes in real-world markets. The economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the public. This state of affairs makes clear the need for a major reorientation of focus in the research economists undertake, as well as for the establishment of an ethical code that would ask economists to understand and communicate the limitations and potential misuses of their models.financial crisis, academic moral hazard, ethic responsibility of researchers