Discourses of Corporate crime as natural disaster: the case of the Paddington Rail Crash

Drawing on the literature in criminology and media studies on the nature of social understandings of corporate crime and its representation in the media, this paper takes one small but important step in this direction by carrying out a linguistic case study on the news coverage of one sequence of events which resulted from corporate negligence – the Paddington rail crash, a sequence of news events that were important as they led to legal change as regards corporate responsibility in Britain. The paper concludes by showing that while the news coverage played an important part in leading to a change in the law regarding corporate responsibility, although this received little coverage in the press.

Securing the human in critical security studies: the insecurity of a secure ethics

This article argues that Critical Security Studies (CSS), exemplified by Ken Booth’s Theory of World Security, has outlined an ethics of security as emancipation of the ‘human’, but also a highly problematic security of ethics. After drawing out how the ethics of CSS operates, we examine the security of this ethics by examining it against a hard case, that of the 199899 Kosovo crisis. Confronting this concrete situation, we draw out three possibilities for action used at the time to secure the human: ‘humanitarian containment’, military intervention and hospitality. Assessing each against Booth’s requirements for ethical security action, we counter that, in fact, no option was without risks, pitfalls and ambiguities. Ultimately, if any action to promote the security and the emancipation of the human is possible, it must embrace and prioritise the fundamental insecurity of ethics, or else find itself paralysed through a fear of making situations worse.

Substitutes for legal protection: corporate governance and dividends in Victorian Britain

Companies in Victorian Britain operated in a laissez-faire legal environment from the perspective of outside investors, implying that such investors were not protected by the legal system. This article seeks to identify the alternative mechanisms that outside shareholders used to protect themselves by examining the dividend policy and governance of over 800 publicly traded companies at the beginning of the 1880s. We assess the importance of these mechanisms by estimating their impact on Tobin's Q. Our evidence suggests that dividends and well-structured and incentivized boards of directors may have played a role in protecting the interests of outside investors.