Cross-Industry Product Diversification and Contagion in Risk and Return: The Case of Bank-Insurance and Insurance-Bank Takeovers

We investigate the impact of domestic/international bancassurance deals on the risk-return profiles of announcing and non-announcing banks and insurers within a GARCH model. Bank-insurance deals produce intra- and inter-industry contagion in both risk and return, with larger deals producing greater contagion. Bidder banks and peers experience positive abnormal returns, with the effects on insurer peers being stronger than those on bank peers. Insurance-bank deals produce insignificant excess returns for bidder and peer insurers and positive valuations for peer banks. Following the deal, the bank bidders’ idiosyncratic (systematic) risk falls (increases), while insurance bidders exhibit a lower systematic risk and maintain their idiosyncratic risk.

Migration, Space and Transnational Identities: The British in South Africa

This timely text explores the lives, histories and identities of white British-born immigrants in South Africa, twenty years after the post-apartheid Government took office. Drawing on over sixty in depth biographical interviews and ethnographic work in Johannesburg, Pietermaritzburg and Cape Town, Daniel Conway and Pauline Leonard analyse how British immigrants' relate to, participate in and embody South Africa's complex racial and political history. Through their everyday lives, political and social attitudes, relationships with the places and spaces of South Africa, as well as their expectations of the future, the complexities of their transnational, raced and classed identities and senses of belonging are revealed. Migration, Space and Transnational Identities makes an important contribution to sociological, geographical, political and anthropological debates on transnational migration, whiteness, Britishness and lifestyle, tourism and labour migration.

Winston Churchill as Chancellor of the Exchequer (1924-9) and the Return to the Gold Standard

This revisits Churchill's decision, as Chancellor of the Exchequer 1924-29, to restore the Gold Standard in 1925. This is considered within the wider context of the overall aims of Churchill's policies, including his efforts to: tackle Anglo-American economic and financial relations in the aftermath of the Great War; address budgetary pressures; widen the tax base through innovations such as the Betting Duty; spread the social burden of taxes; and revive the economy, not least through his de-rating scheme.

Introduction: The ‘material turn’ in migration studies

This introduction firstly discusses the ongoing paradigm shift in the study of transnational migration, in particular the emergent interest in the convergence of migration and material culture as the starting point of our investigation. Then it highlights three aspects that this Special Issue could further in the current study of migration and materialities: namely, historical consciousness in materialising migration experiences and the notion of generational transmission; the everyday experience of body as the site for mutual constitution between subject and object; and the unique value of a language-based, interdisciplinary-oriented approach for migration studies. In the final part, it summarizes the four articles that follow, highlighting the contribution that each makes to our overall objective of making a ‘material turn’ in migration studies, and discusses some ways it could be further developed.