Fuelling the panic: The societal reaction to boy racers

This article is part of the Moral Panic Studies Working Paper Series, edited by Amanda Rohloff of Brunel University. The series disseminates the work of a network of international researchers on all areas of moral panic studies.Fuelled by media coverage of reckless, irresponsible and anti-social driving, young (male) motorists are an area of concern for politicians, police and citizens more generally. In media and popular discourses the symbol of the boy racer has come to represent deviance, anti-social behaviour, criminality and risk on the roads. This paper focuses on a local moral panic concerning boy racers in the city of Aberdeen, Scotland. Five elements, which characterise a moral panic, are identified and include: concern, hostility, consensus, disproportion and volatility (Goode and Ben- Yehuda 2009[1994]). Urban regeneration played a key part in this particular moral panic in terms of class, cultural and intergenerational clashes between racers and outside groups. The moral panic was further institutionalised through the use of measures such as anti-social behaviour legislation. Moreover, it was symptomatic of wider societal concern regarding the regulation of young (male) motorists and the related governance of urban space and incivilities. The discussion draws on data collected via participant observation with the drivers, semi-structured interviews with members of the outside groups and content analysis of media reports which focus on the culture

Performativity and Financial Markets: Option Pricing in the Late 19th Century

The paper revisits the performativity thesis in economics stressing the plural character of knowledge, which includes not only scientific models but also every form of practical knowledge that systematizes the visible and the articulable experience of economic agents. To highlight the point, the paper examines the pricing of options in London in the late 19th century, long before the academic origin of modern option pricing models. The pamphlets of the time are valuable archives of existing option transactions performed on the basis of systematic practical techniques widely established among investors

Do we buy more or less when we want to learn? The knowledge strategies and structural forms of US cross-border acquisitions

Cross-border acquisitions may be a primary mode for accessing novel knowledge and the building up of knowledge capabilities. However, the successful exploration of novel business and/or location knowledge may require specific structural forms for the incorporation and internal transfer to occur. In this paper we examine the relationship between the knowledge strategy and the structural form of the acquisition, specifically the degree of equity acquired. Our analyses of 439 US cross-border acquisitions revealed a curvilinear effect of location-related knowledge exploration but a linear effect of business-related knowledge exploration on the structural form of cross-border acquisition. We conclude that the knowledge strategy, and perhaps the type of knowledge being sought, is related in complex manners to the structural form adopted.cross-border acquisitions, knowledge strategy, equity ownership, structural forms, learning

Technology transfer within MNEs: An investigation of inter-subsidiary competition and cooperation

Much theory and research that seeks to explain why and how technology transfers occur within multinational enterprises (MNEs) actually addresses the question of how these transfers occur among cooperative subsidiaries, and relies on the assumption of inter-subsidiary cooperation. However, subsidiaries do not always cooperate. We suggest that the success of technology transfer among subsidiaries depends on the extent to which the relationships among an MNE's subsidiaries (i.e. inter-subsidiary) are competitive or cooperative. Inter-subsidiary cooperation is determined by the MNE's international strategy, organizational structure, and the social relationships among subsidiaries. Both hierarchical and social relational factors drive the potential for inter-subsidiary multimarket competition that originates from the overlap on the subsidiaries' products, technologies, and market portfolios.technology transfer, subsidiaries, competition and cooperation, international strategy

Impact Investing and Inclusive Business Development in Africa: A research agenda

Impact investing aims to create sustainable social and environmental impacts for investee enterprises and communities as well as adequate financial returns. As an attractive emerging market investment strategy, it involves development finance institutions and philanthropic foundations partnering with mainstream private venture capital to create impact funds with the goal of catalysing inclusive market-based enterprise development in low income countries. In this paper, we present findings from a scoping study discussing the nature and operations of impact funds in African economies and the associated research opportunities on this topic. To facilitate the assessment, we reviewed the existing literature on impact investing, considering this along three interrelated perspectives, namely 1) impact investing as development finance policy for economic development, 2) impact investing as a development in socially responsible investing, and 3) impact investing as capacity-building for inclusive business development in African economies. The interplay of these perspectives shapes the constitution and operational strategies of specific impact funds and provide a conceptual context for understanding impact investing at country level. Drawing on interviews, email exchanges and roundtable discussions with representative global and country-specific (Sierra Leone, Cameroon and Kenya) stakeholders our analysis makes three contributions to the impact investing debate. First we explore a model for understanding the ways in which impact funds are being channeled into inclusive businesses in Africa and the associated catalytic effects on poverty alleviation, social and economic development. Second we identified and tested access to, a range of impact funds and associated sector-specific inclusive businesses for future case writing – hopefully ‘failures’ as well as ‘successes’. Finally, we reflect on some of the unanswered managerial and policy-related questions that require a more rigorous inquiry-led appraisal to better understand and enhance the contribution of impact funds to inclusive business development in Africa

Knowledge in development aid and healthcare: a comparative analysis

Effective delivery in the fields of development aid and healthcare relies on knowledge and its communication. Institutions, practitioners and the end-users are examined in these two fields as key actors in the production and communication of knowledge. Similarities and differences, and strengths and weaknesses of their approaches to knowledge are compared. Knowledge is shown to be an intrinsically political process in which institutions and practitioners play a critical role in its communication. Establishing a common background is essential to communicate knowledge effectively. The World Bank’s notion that knowledge is a simple commodity should be challenged

The international entrepreneurial firms' social networks

ABSTRACT This paper investigates theoretically the importance and impact of the international entrepreneurial firms? (IEFs) social networks on selected firms? strategies. We focus specifically on some core attributes of IEFs and the impact of social networks on such strategies as the choice of the foreign markets to operate and the foreign entry modes. The social networks are a major driver of the internationalization from inception and help in overcoming a variety of physical and social resource limitations as well as transactional hazards. We conclude that it is likely that both some fundamental characteristics of the IEFs and those of the foreign markets entered account for these firms reliance on their social networks.entrepreneurship, international entrepreneurial firms, social networks, internationalization

When Globalization Meets Urbanization: Labor Market Reform, Income Inequality, and Economic Growth in the People's Republic of China

The development path that the People's Republic of China (PRC) has been following during the past thirty years has led to both internal and external economic imbalances, and is now greatly challenged by the global crisis. This unbalanced growth path was primarily a result of the PRC's labor market reform which took the years of the mid-1990s as its turning point. Before the mid-1990s, the scale of rural-to-urban migration was limited, but it has grown dramatically since then. 1996 also saw drastic employment restructuring in urban areas of the PRC. Labor market reform, accompanied by the foreign exchange system reform in 1994, confirmed the PRC's comparative advantage of low labor cost, and therefore further increased the PRC's reliance on exports. However, the increased income disparity that resulted from the labor market reform may jeopardize sustainable growth if no adjustment is made. To sustain the high economic growth, especially in face of the current crisis, the PRC needs to adjust its reform and development strategies to promote income equality.china labor market unemployment; china income inequality; china economic growth crisis

Financial Crisis and Crisis Management in Sweden. Lessons for Today

This paper gives an account of the Swedish financial crisis covering the period 1985–2000, dealing with financial deregulation and the boom in the late 1980s, the bust and the financial crisis in the early 1990s, the recovery from the crisis and the bank resolution policy adopted during the crisis. The paper focuses on three issues: the causes and consequences of the financial crisis, the policy response concerning bank resolution, and the applicability of the Swedish model of bank crisis management for countries currently facing financial problems.financial crisis; crisis management; bank resolution; solvency crisis; banking crisis

ISER Working Paper

In communities that largely depend on the extraction of natural resources, attitudes towards conservation and development may seem at odds or particularly rigid. With an unprecedented wealth of natural capital, a growing mining sector, strong oil and gas industry, and a politically conservative population, Alaska serves as a case study to measure such attitudes. This research was motivated by a lack of primary ecosystem service valuation studies in Alaska that could be used to assess the public’s perceived value of ecosystem services in order to guide future land use decisions and incentivize land use decisions that minimize negative externalities. A choice experiment was conducted with 224 households in the Matanuska-Susitna Borough, the fastest growing region in Alaska and one of the fastest growing regions in the U.S. Rapid development with few restrictions has led to changes for local ecosystems particularly important to salmon, negative effects on access related to recreation and tourism, and caused conversion of valuable farmland. Study results show that attitudes and values vary regarding future land use and economic development efforts. On average, policy action to improve conditions for local salmon stocks are most valuable to local residents followed by protecting farm and ranch lands as well as public access to recreation sites. Conversely, residents show negative preferences towards rapid population growth and developing local mining, oil and gas, and timber resources but support developing a professional and technical services sector. The quantified welfare changes related to different development scenarios show that focusing on conserving valuable ecosystem services is in the public’s best interest