The Europeanization of British Financial Services Regulation

[Introduction]. As part of the project on the Europeanization of British politics and public policy this Paper undertakes a study of banking, investment and insurance directives as well as the Financial Services Authority (FSA) to deal with conceptualizations of Europeanization and assess the impact of this on British financial services regulation. Through this study the Paper allows a comparison with the German institutional structure and identifies similarities regarding the impact of Europeanization on this member state’s financial services sector. The Paper picks up on a number of issues outlined by Bache and Jordan (2004) in terms of top-down or downloading, bottom-up or up-loading, cross-loading and policy transfer procedures of Europeanization. Overall the Paper recognises an interaction between the European Union (EU) and member states in terms of up-loading and downloading and an interaction between member states in the context of cross-loading

Corporate Governance, Substantive Theory and Sociological Institutionalism: The Case of the Egyptian Banking Sector

Banking organizations have peculiar characteristics that make it difficult for them to adopt and apply traditional corporate governance models. However, little attention has been given to understanding and theorizing banking corporate governance. Deploying a grounded theory methodology this paper develops a substantive theory of banking corporate governance within Egypt. Subsequently, through sociological institutionalism the substantive theory is further analyzed and assessed; findings indicate that banking corporate governance is an evolving context or contingency based phenomenon. Corporate governance for banks in Egypt involves an institutionalization process based on regulative and normative pressures that looks to ensure legitimacy from shareholders, regulators and depositors. This said, to maintain legitimacy banks either comply or disguise their non-compliance. Overall, this paper contributes to non-traditional corporate governance theorizing and offers policy-makers a distinct in-depth understanding of the phenomenon

The UK offshore wind job creation capacity, O&M costs and content analysis

This paper focuses on exploring the operation and maintenance costs and job creation capacity of the UK offshore wind sector. The UK Government long-term target is to use the offshore wind farm (OWF) renewable energy to meet 15% of its renewable energy target by 2020. OWF operation and maintenance market opportunities have been encouraging firm to make major investment in the sector. This emerging market presents opportunities to turbine manufacturers, wind farm developers and small & medium enterprises (SMEs), thereby leading to significant job creation capacity. About 1,183 offshore wind turbines have been installed in the UK with capacity of 4,042 megawatt (MW) and this sector currently provides skilled jobs to about 6,830 full-time employees. Cost reduction in the operation and maintenance and a strong supply chain are necessary if the UK Government targets for the sector is to be achieved

Service quality in multichannel fashion retailing:an exploratory study

Purpose Consumer purchasing behaviour has changed substantially in the light of recent developments in E-commerce. So-called ‘multichannel customers’ tend to switch retail channels during the purchasing process. In order to address changing consumer behaviour, multichannel fashion retailing companies must continue to learn how to provide excellent service to such customers. The overall aim of this paper, therefore, is to contribute to the interpretation of multichannel service quality by explaining it from the perspective of the so-called ‘multichannel customers’. Design/Methodology/Approach Drawing on social influence theory, this paper aims to investigate these issues from the perspective of multichannel customers. In contrast with dualist and objectivist studies this paper uses a constructivist epistemology and ethnographic methodology. Such an approach is associated with an interpretivist ontological worldview, which postulates the existence of ‘multiple realities’. The sample size for this research consisted of 34 in-depth interviews and two focus groups comprising ten focus group participants. Findings The data analysis fundamentally found that multichannel customers tended to continually adjust choices regarding retailer and retail channel when making purchases. The perspective of this paper is different from mainstream positivist service quality research which sees service quality as static, objectively measurable and dualistic. As an alternative, this paper acknowledges service quality as a dynamic, subjective and pluralistic phenomenon. Originality/Value This paper contributes to the interpretation of multichannel service quality with a new concept that explains the phenomenon from the perspective of customers and thus considers it necessary for multichannel retailers to adopt strategies relating to customers’ changing behaviour

The Influence of Data Resolution on Predicted Distribution and Estimates of Extent of Current Protection of Three 'Listed' Deep-Sea Habitats

Modelling approaches have the potential to significantly contribute to the spatial management of the deep-sea ecosystem in a cost effective manner. However, we currently have little understanding of the accuracy of such models, developed using limited data, of varying resolution. The aim of this study was to investigate the performance of predictive models constructed using non-simulated (real world) data of different resolution. Predicted distribution maps for three deep-sea habitats were constructed using MaxEnt modelling methods using high resolution multibeam bathymetric data and associated terrain derived variables as predictors. Model performance was evaluated using repeated 75/25 training/test data partitions using AUC and threshold-dependent assessment methods. The overall extent and distribution of each habitat, and the percentage contained within an existing MPA network were quantified and compared to results from low resolution GEBCO models. Predicted spatial extent for scleractinian coral reef and Syringammina fragilissima aggregations decreased with an increase in model resolution, whereas Pheronema carpenteri total suitable area increased. Distinct differences in predicted habitat distribution were observed for all three habitats. Estimates of habitat extent contained within the MPA network all increased when modelled at fine scale. High resolution models performed better than low resolution models according to threshold-dependent evaluation. We recommend the use of high resolution multibeam bathymetry data over low resolution bathymetry data for use in modelling approaches. We do not recommend the use of predictive models to produce absolute values of habitat extent, but likely areas of suitable habitat. Assessments of MPA network effectiveness based on calculations of percentage area protection (policy driven conservation targets) from low resolution models are likely to be fit for purpose

The impact of modelling method selection on predicted extent and distribution of deep-sea benthic assemblages

Predictive modelling of deep-sea species and assemblages with multibeam acoustic datasets as input variables is now a key tool in the provision of maps upon which spatial planning and management of the marine environment can be based. However, with a multitude of methods available, advice is needed on the best methods for the task at hand. In this study, we predictively modelled the distribution and extent of three vulnerable marine ecosystems (VMEs) at the assemblage level (‘Lophelia pertusa reef frameworks’; ‘Stylasterids and lobose sponges’; and ‘Xenophyophore fields’) on the eastern flank of Rockall Bank, using three modelling methods: MaxEnt; RandomForests classification with multiple assemblages (gRF); and RandomForests classification with the presence/absence of a single VME (saRF). Performance metrics indicated that MaxEnt performed the best, but all models were considered valid. All three methods broadly agreed with regard to broad patterns in distribution. However, predicted extent presented a variation of up to 35 % between the different methods, and clear differences in predicted distribution were observed. We conclude that the choice of method is likely to influence the results of predicted maps, potentially impacting political decisions about deep-sea VME conservation

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Disruptive technology in the smartphones industry: identity theory perspective

The impact of identity on brand loyalty has taken precedence as an area of focus in recent marketing research. This has occurred in an era defined by technological revolution, which has created market disruptions, and there are implications for customer-brand relationships. Nonetheless, existing research has failed to acknowledge the impact of socio-psychological attributes and functional utility maximization. Knowledge that illuminates how firms can reposition themselves to sustain brand loyalty when disruptions occur in today's complex and globalized business environment is also required. The chapter presents an empirical investigation into the phenomenon of brand switching behavior among consumers in a specific competitive market, particularly in the smartphone industry. It explores how resistance could be built from an identity theory perspective, as emphasis has historically been placed on the functional utility of products at the expense of social meanings. This chapter provides consideration for market disruptions in the smartphone industry. It confirms that the literature does not capture other non-utilitarian factors such as socio-psychological benefits; hence, there are underlying factors that motivate consumers to continue buying brands they buy