Heritage

This article examines the concepts, definitions, policies, and practices of heritage in a contemporary context. Within recent years, there have been significant shifts in our understandings and applications of heritage concepts and policies in the modern world. ‘Heritage’ emerged as a buzz word in international policy arenas in the 1980s and early 1990s, and has since weathered the vagaries of turbulent definitional and governance–nomenclature storms, as traditional debates about ‘what it is and what it is not’ reverberate around academia and state agencies alike. Policy and funding structures for heritage are determined by the classifications used to define them in various countries. Typically, reference is made to ‘built heritage’, ‘natural heritage’, and ‘intangible heritage’, loosely reflecting buildings, landscapes, and culture. Aspects of heritage are used by the cultural and tourism industries to add economic value, through heritage tourism sites, museums, and other activities. The cultural tourism product is often anchored around notions of heritage, and in postmodern, post-tourist societies, boundaries between culture, (travel) space, and identities are increasingly blurred. Issues of authenticity become important in the representation of heritage, and questions are asked about the validity of nostalgia versus realism. The role of heritage is examined in the context of identity formulation at individual and nation-state levels, and the political aspects of this are also discussed. Finally, heritage conservation is assessed through an examination of UNESCO’s World Heritage Site listing and protection strategy. In a changing world, new constructs of heritage, identity, authenticity, and representation will continue to emerge as meanings are constantly renegotiated over time and space.

Cohabitation and conflict

Considers some of the potential legal difficulties that can occur on the breakdown of a cohabiting couple's relationship. Covers disputes surrounding the ownership of the family home and the use of constructive trusts following the House of Lords decision in Lloyds Bank Plc v Rosset. Outlines the recommendations of the Law Commission in its report Cohabitation: the Financial Consequences of Relationship Breakdown. [From Legal Journals Index]

A review of the rationales for corporate risk management: fashion or the need?

This paper presents the extensive literature survey based both on theoretical rationales for hedging as well as the empirical evidence that support the implications of the theory regarding the arguments for the corporate risk management relevance and its influence on the company’s value. The survey of literature presented in this paper has revealed that there are two chief classes of rationales for corporate decision to hedge - maximisation of shareholder value or maximisation of managers’ private utility. The paper concludes that, the total benefit of hedging is the combination of all these motives and, if the costs of using corporate risk management instruments are less than the benefits provided via the avenues mentioned in this paper, or any other benefit perceived by the market, then risk management is a shareholder-value enhancing activity.