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Author: David Rouch
Publisher: Springer Nature
ISBN: 3030402207
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
This book is about what Mark Carney has called ‘the social licence for financial markets’ and how it can point us towards a more sustainable future. Author David Rouch argues that what it reveals contrasts sharply with the usual portrayals of markets as places of unrestrained financial self-interest. Drawing attention to a more complex reality and the presence of justice-focused aspirations in finance can positively impact individual, institutional, and systemic behaviour: change, not imposed by regulators, but emerging from the very substance of market relationships. The finance sector should have a key role in addressing humanity’s increasingly pressing sustainability challenges. Yet the relationship between finance and society has not recovered from the 2008 crisis and the scandals and austerity that followed. The Covid-19 pandemic and its economic fallout is sharpening some of the issues and creating new ones. Recognising that financial markets operate subject to a social licence has the potential to galvanise market participants in tackling these challenges, strengthening social solidarity on which markets also depend, and to provide coordinates for navigating a way through the post-pandemic social, political and economic landscape.
Author: David Rouch
Publisher: Springer Nature
ISBN: 3030402207
Category : Business & Economics
Languages : en
Pages : 373
Get Book Here
Book Description
This book is about what Mark Carney has called ‘the social licence for financial markets’ and how it can point us towards a more sustainable future. Author David Rouch argues that what it reveals contrasts sharply with the usual portrayals of markets as places of unrestrained financial self-interest. Drawing attention to a more complex reality and the presence of justice-focused aspirations in finance can positively impact individual, institutional, and systemic behaviour: change, not imposed by regulators, but emerging from the very substance of market relationships. The finance sector should have a key role in addressing humanity’s increasingly pressing sustainability challenges. Yet the relationship between finance and society has not recovered from the 2008 crisis and the scandals and austerity that followed. The Covid-19 pandemic and its economic fallout is sharpening some of the issues and creating new ones. Recognising that financial markets operate subject to a social licence has the potential to galvanise market participants in tackling these challenges, strengthening social solidarity on which markets also depend, and to provide coordinates for navigating a way through the post-pandemic social, political and economic landscape.
Author: David Rouch
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
Recent years have seen a rediscovery of the fact that a healthy financial and economic system cannot be based on the lowest common behavioural denominator of what is technically permissible under the black letter of the law. Something more is needed - variously described as 'sound culture', 'professionalism', 'a sense of vocation', 'ethics', 'morality, and 'best practice'. However, it is less clear how these can be achieved if it is not by reference to law or other forms of written standards (such as codes of conduct) since market participants need to understand what standards of behaviour are expected and encouraged to adhere to those standards. Yet use of law and other written standards potentially takes us back to behaviour referenced to the black letter of the law. This paper seeks to help answer the question of how law, regulation and written codes can stimulate behaviour that reflects a standard that transcends them. Among other things, taking the example of the UK financial sector, it looks across the range of written standards (from 'hard' law to private codes) that exist in the sector, and the enforcement mechanisms associated with them, to consider how written standards can come to affect behavioural standards. By using a 'written standards map' of those financial sector standards, it considers the inter-relationship (a) between tightly prescriptive legal and regulatory rules and those that are more aspirational (such as a legal requirement to achieve 'fairness') and (b) between written standards backed by 'hard' legal sanctions and those which depend upon softer or private enforcement mechanisms.
Author: Patricia A. Adler
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 232
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Book Description
Author: Leeora Black
Publisher: Routledge
ISBN: 1351275151
Category : Business & Economics
Languages : en
Pages : 95
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Book Description
The "social licence to operate" began as a metaphor to bring attention to the need for companies to earn acceptance from their host communities. Today, it is a necessary management framework for complex times.A social licence strategy is essentially a stakeholder engagement strategy for navigating complex socio-political environments. This book provides the framework, tools and case studies a company needs to create a foundation for truly sustainable community development.This 90-minute guide will enable you to: define the social licence to operate; make the business case for actively managing your social licence to operate; measure the social licence to operate; develop a step-by-step plan to restore, build, maintain and enhance your company’s social licence; and report on your social licence.This book is for managers in any company facing rising social scrutiny due to unwanted social or environmental impacts. You may be working in natural resources, renewable energy, oil and gas, forestry, construction, manufacturing, retail, food processing, pharmaceuticals or any industry that is facing rising stakeholder expectations and increasing criticism.
Author: Costanza A. Russo
Publisher: Edward Elgar Publishing
ISBN: 1784716545
Category : Law
Languages : en
Pages : 448
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Book Description
The global financial crisis evidenced the corrosive effects of unethical behaviour upon the banking industry. The recurrence of misbehaviour in the financial sector, including fraud and manipulations of market indices, suggests the need to establish a banking culture that conforms to the highest standards of ethical and professional behaviour. This Research Handbook on Law and Ethics in Banking and Finance focuses on the role that law should play and the effectiveness of newly introduced regulations and supervisory actions as a driver for ethical conduct so as to reconnect the interests of bankers and financiers with the interests of society.
Author: Karin Knorr-Cetina
Publisher: OUP Oxford
ISBN: 9780199296927
Category : Business & Economics
Languages : en
Pages : 704
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Book Description
Financial markets also have a structural impact on the governance of social and economic institutions. Until now, sociologists have examined issues of governance mostly with respect to the legal framework of financial transactions. Contributions in this book highlight the ways in which financial markets shape the inner working and structure of corporations and their governance.
Author: Niels Philipsen
Publisher: Routledge
ISBN: 131775039X
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argument of this book is that law matters for the operation of financial markets, which, in turn, significantly influences the performance of firms, industries, and economies. The Role of Law and Regulation in Sustaining Financial Markets is divided into four parts. Part one addresses the connection between law, financial development, and economic growth. Part two deals with the role of financial regulation, which can be used to correct market failures, such as negative externalities, information asymmetries, and monopolies. Part three focuses on the design, functioning, and performance of different financial instruments. Part four examines the topic of Corporate Social Responsibility. This book contributes to the ‘law and finance’ literature by studying certain conventional issues, such as the relationship between finance and economic growth, and the effects of regulatory quality on financial development, from new perspectives and/or with new evidence, data, and cases. It also explores novel topics, such as project finance contracts, insurance and climate change, the shadow banking system, that have been overlooked in current literature. This book is meaningful not only for the EU and the US, which have suffered considerably from the financial crisis of 2008, but also for China, which is struggling to build a sound institutional infrastructure to govern its increasingly complicated financial system. By comparing the regulatory philosophies and practices of the EU, the US and China, this book will help the reader to understand the diverse nature of the global ‘law and finance’ nexus and avoid succumbing to the myth of "one size fits all".
Author: Hugh Breakey
Publisher: Emerald Group Publishing
ISBN: 1837530742
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
What is the social licence to operate, and what are its ethical risks and promises? This collection explores these questions from a range of perspectives.
Author: Hossein Esmaeili
Publisher: Taylor & Francis
ISBN: 1040039596
Category : Law
Languages : en
Pages : 367
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Book Description
This book provides an interdisciplinary analysis of trade relations with the Middle East and Arab countries from the perspectives of law, business, policy and culture in the Middle East and the Arab world and their interaction with the wider world, particularly Western countries. The rapidly evolving economy of the Middle East and the Arab region is undergoing significant change, and establishing modern foreign ownership law, robust company, business and investment regulations, modern legal professions while keeping its basic traditional and Islamic principles. This book covers a number of important theoretical and practical aspects of commercial and trade relationships and law. It examines case studies of trade and investment relations between Arab and Middle Eastern countries and Western Countries, such as Australia, UK and US, touching on such topics as corporation law, arbitration and foreign judgments, future mobility and disruptive technology law, financial services law, charity law, trusts and cultural law. Exploring emerging trade and investment ties between Arab and Middle Eastern countries and Western countries, it will be of interest to students, academics and practitioners with an interest in international trade and investment law.
Author: Monique Jeanblanc
Publisher: Springer Science & Business Media
ISBN: 1846287375
Category : Business & Economics
Languages : en
Pages : 754
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Book Description
Mathematical finance has grown into a huge area of research which requires a large number of sophisticated mathematical tools. This book simultaneously introduces the financial methodology and the relevant mathematical tools in a style that is mathematically rigorous and yet accessible to practitioners and mathematicians alike. It interlaces financial concepts such as arbitrage opportunities, admissible strategies, contingent claims, option pricing and default risk with the mathematical theory of Brownian motion, diffusion processes, and Lévy processes. The first half of the book is devoted to continuous path processes whereas the second half deals with discontinuous processes. The extensive bibliography comprises a wealth of important references and the author index enables readers quickly to locate where the reference is cited within the book, making this volume an invaluable tool both for students and for those at the forefront of research and practice.
