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.

Fluid Ontologies in the Search for MH370

This paper gives an account of the disappearance of Malaysian Airways Flight MH370 into the southern Indian Ocean in March 2014 and analyses the rare glimpses into remote ocean space this incident opened up. It follows the tenuous clues as to where the aeroplane might have come to rest after it disappeared from radar screens – seven satellite pings, hundreds of pieces of floating debris and six underwater sonic recordings – as ways of entering into and thinking about ocean space. The paper pays attention to and analyses this space on three registers – first, as a fluid, more-than-human materiality with particular properties and agencies; second, as a synthetic situation, a composite of informational bits and pieces scopically articulated and augmented; and third, as geopolitics, delineated by the protocols of international search and rescue. On all three registers – as matter, as data and as law – the ocean is shown to be ontologically fluid, a world defined by movement, flow and flux, posing intractable difficulties for human interactions with it.

From syntagmatic to paradigmatic spatial zeroes: the loss of the preposition se in inner Asia Minor Greek

We trace the diachronic development of the preposition se in inner Asia Minor Greek from its use to mark a range of spatial functions to its ultimate loss and replacement by zero. We propose that, before spreading to all syntactic and semantic contexts, zero marking was contextually-dependent on the presence/absence of a prenominal genitive modifying the head noun of Ground-encoding NPs and on the presence/absence of Region-encoding postpositions. We attribute these developments to an informational load relief strategy aimed at producing more economical utterances as well as to language contact with Turkish, which favoured structural convergence on the adpositional level between the two languages.