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

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

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

Benthic assemblages of the Anton Dohrn seamount (NE Atlantic): defining deep-sea biotopes to support habitat mapping and management efforts with a focus on vulnerable marine ecosystems

In 2009 the NW and SE flanks of Anton Dohrn Seamount were surveyed using multibeam echosounder and video ground-truthing to characterise megabenthic biological assemblages (biotopes) and assess those which clearly adhere to the definition of Vulnerable Marine Ecosystems, for use in habitat mapping. A combination of multivariate analysis of still imagery and video ground-truthing defined 13 comprehensive descriptions of biotopes that function as mapping units in an applied context. The data reveals that the NW and SE sides of Anton Dohrn Seamount (ADS) are topographically complex and harbour diverse biological assemblages, some of which agree with current definitions of ‘listed’ habitats of conservation concern. Ten of these biotopes could easily be considered Vulnerable Marine Ecosystems; three coral gardens, four cold-water coral reefs, two xenophyophore communities and one sponge dominated community, with remaining biotopes requiring more detailed assessment. Coral gardens were only found on positive geomorphic features, namely parasitic cones and radial ridges, found both sides of the seamount over a depth of 1311–1740 m. Two cold-water coral reefs (equivalent to summit reef) were mapped on the NW side of the seamount; Lophelia pertusa reef associated with the cliff top mounds at a depth of 747–791 m and Solenosmilia variabilis reef on a radial ridge at a depth of 1318-1351 m. Xenophyophore communities were mapped from both sides of the seamount at a depth of 1099–1770 m and were either associated with geomorphic features or were in close proximity (< 100 m) to them. The sponge dominated community was found on the steep escarpment either side of the seamount over at a depth of 854-1345 m. Multivariate diversity revealed the xenophyophore biotopes to be the least diverse, and a hard substratum biotope characterised by serpulids and the sessile holothurian, Psolus squamatus, as the most diverse

Impact of Foreign Direct Investment on the Financial Performance of Listed Deposit Banks in Nigeria

In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the dependent variable and FDI as an independent variable. Board size, firm size, equity capital and reinvested earnings were all financial performance indicators employed to test the impact of FDI on the financial performance of the banks on understudy in Nigeria. The result of the data analysis and findings showed that FDI had contributed positively to the development and performance of the deposit banks over the period under consideration. Our theoretical findings suggest a positive relationship between FDI and profit maximization. This support the FDI theory that banks or organisations are financed partly with debt-equity, both used by the banks to balance the cost and benefit financing decisions by the management. In the case of the empirical findings, the results of hypothesis testing show a significant effect on the banks‟ financial performances. Given these results, we conclude that FDI has made a positive impact on the development and financial performances of the listed deposit banks under study which resulted in some of the banks‟ growth from local banks in Nigeria into some of the leading international banks in Africa

A decision support system for strategic maintenance planning in offshore wind farms

This paper presents a Decision Support System (DSS) for maintenance cost optimisation at an Offshore Wind Farm (OWF). The DSS is designed for use by multiple stakeholders in the OWF sector with the overall goal of informing maintenance strategy and hence reducing overall lifecycle maintenance costs at the OWF. Two optimisation models underpin the DSS. The first is a deterministic model that is intended for use by stakeholders with access to accurate failure rate data. The second is a stochastic model that is intended for use by stakeholders who have less certainty about failure rates. Solutions of both models are presented using a UK OWF that is in construction as an example. Conclusions as to the value of failure rate data are drawn by comparing the results of the two models. Sensitivity analysis is undertaken with respect to the turbine failure rate frequency and number of turbines at the site, with near linear trends observed for both factors. Finally, overall conclusions are drawn in the context of maintenance planning in the OWF sector

Connecting ecosystem services research and human rights to revamp the application of the precautionary principle

With ecosystem services (ES) vital for human wellbeing1, the protection of nature is a human rights matter. We outline how recent advances in international human rights law should inform a revamp of how precaution is applied within environmental decision-making. Critically, precautionary decision-making must evolve to make use of best-available evidence, including novel ES research approaches, to assess ‘foreseeable’ harms to all aspects of human wellbeing that are protected as human rights

Depth and latitudinal gradients of diversity in seamount benthic communities

Latitudinal and bathymetric species diversity gradients in the deep sea have been identified, but studies have rarely considered these gradients across hard substratum habitats, such as seamount and oceanic island margins. This study aimed to identify whether the current understanding of latitudinal and bathymetric gradients in α-diversity (species richness) apply to seamount ecosystems, as well as ascertaining whether identifiable trends were present in seamount β-diversity along a bathymetric gradient

Audit Committee Quality and Financial reporting in Deposit Money Banks in Nigeria.

The credibility of financial reporting is crucial as it assures the user of its realism; this mandated a crux to examine the effect of audit committee quality on the financial reporting quality of deposit money banks in Nigeria. The descriptive research design was adopted, and secondary data sourced from annual accounts of seven deposit money banks for seven years were used to test our hypotheses. The dependent variable in this study is financial reporting quality measured with accrual model. In contrast, the independent variables were number of members of the audit committee with accounting and finance knowledge, size of the audit committee, number of audit committee meetings held in a year, and audit committee independence. Descriptive Statistics, normality test, multicollinearity test and regression analysis were conducted. A significant outcome revealed that except for several audit committee meeting held in a significant year, other variables were found to be insignificant, hence are not determinant of financial reporting quality in deposit money banks in Nigeria. The study concluded that audit committee quality is not a determinant of financial reporting quality in deposit money banks in Nigeria. The study recommended that ability should be paramount for the appointment of members of the audit committee and advises of the audit committee should always be given adequate and consideration by management in decision makin