Holding Shareholders to Account: British Banking Stability and Contingent Capital

This chapter seeks to explain the relative stability of the British banking system in terms of its capital structure. From 1826 joint-stock banking was allowed, but shareholder liability was jointly and severally unlimited. Limited liability banks were allowed from 1857–8, but these banks issued partly paid shares with an obligation on shareholders to subscribe for uncalled capital. Contingent capital meant that shareholders and managers would suffer losses in the event of failure and this discouraged risk shifting at the expense of note-holders and depositors. Although individual banks collapsed, the failure rate of banks (in terms of number or capital) did not reach a critical level—10 per cent—beyond which the payments system might have been threatened. This chapter argues that agency problems and systemic risk rose after the abolition of contingent share capital in 1958 and the deregulation of the banking sector in the 1970s.

Bearing Witness to the 'Pain of Others': Researching Power, Violence and Resistance in a Women's Prison

Addressing the dynamics of interpersonal violence, institutionalised abuses and prisoner isolation, this article consolidates critical analyses as challenges to the essentially liberal constructions and interpretations of prisoner agency and penal reformism. Grounded in long-term research with women in prison in the North of Ireland, it connects embedded, punitive responses that undermine women prisoners’ self-esteem and mental health to the brutalising manifestations of formal and informal punishments, including lockdowns and isolation. It argues that critical social research into penal policy and prison regimes has a moral duty, an ethical obligation and a political responsibility to investigate abuses of power, seek out the ‘view from below’. Challenging the revisionism implicit within the ‘healthy prison’ discourse, it argues for alternatives to prison as the foundation of decarceration and abolition.

Who gets to play? Investigating equity in musical instrument instruction in Scottish primary schools

There is a widely held view that learning to play a musical instrument is a valuable experience for all children in terms of their personal growth and development. Although there is no statutory obligation for instrumental music provision in Scottish primary schools, there are well-established Instrumental Music Services in Local Education Authorities that have been developed to provide this facility for pupils. This article presents the findings of a study that was aimed at investigating the extent to which the opportunity to undertake instrumental instruction in Scottish primary schools is equitable. The study employed a mixed-methods approach. Data were gathered from 21 Scottish primary schools, a total pupil population of 5122 pupils of whom 323 pupils were receiving instrumental instruction. The analysis involved an investigation of the academic profile of this group, the representation of children with additional support needs (ASN) and the nature of their ASN. A qualitative analysis of policy and guideline documents and interviews with Heads of Instrumental Services, headteachers and instrumental instructors served to explain and illuminate the quantitative data. The findings showed that particular groups of children with ASN were significantly under-represented and offer explanations of the processes by which this occurs.

An exploration of the impact of a mandatory quality assurance program on the staff nurse's commitment to professional development /

This study explored experiences in relation to the impact of the College of Nurses of Ontario's (CNO's) mandatory Quality Assurance (QA) program on registered nurses (RNs) working in a clinical setting of an acute care hospital. A qualitative descriptive research design was used and data collection was done in 2 stages. First, a survey with open-ended questions was given to 45 nurses. Second, 8 respondents from the survey were interviewed using a semistructured format. Data were obtained from 2 groups-diploma-prepared and post diploma-prepared RNs. Findings demonstrated that the CNO's QA program had varying influences on the RNs' learning paths, and these differences appeared to be related to the educational background of the individual. The diploma-prepared nurses reported that their commitment to professional development was influenced by their level of internal motivation, the pressures associated with time, and the need for a strong external motivator, namely the obligation of management to conduct formal performance appraisals. They further reported that the QA program played a part in positively altering their commitment to continuing education. The post-diploma baccalaureate nurses reported that the QA program played a positive role in influencing their ongoing learning, along with their level of internal motivation, the work and health care environment, and the element of professionalism. Several implications for nursing practice, theory, and fiirther research also became evident.

L'obligation de non-concurrence dans les sociétés de professionnels : vers une théorie de liberté de choix contractuelle

"Mémoire présenté à la Faculté des études supérieures en vue de l'obtention du grade de Maître en droit (LL.M.)"

Qualification et quantification de l'obligation de sécurité informationnelle dans la détermination de la faute civile

L'obligation de sécurité informationnelle - c'est-à-dire la tâche qui incombe aux entreprises d'assurer l'intégrité, la confidentialité et la disponibilité de l'information découle, tant en droit québécois que dans une majorité de juridictions occidentales, d'une série de dispositions législatives imposant non pas l'adoption de comportements ou l'utilisation de technologies ou de procédés identifiables, mais bien l'implantation de mesures de sécurité «raisonnables », «adéquates », ou « suffisantes ». Or, dans un domaine aussi embryonnaire et complexe que celui de la sécurité informationnelle, domaine dans lequel les solutions disponibles sont multiples et où la jurisprudence est éparse, comment une entreprise peut-elle jauger avec justesse l'étendue de son obligation? Bref, comment établir ce que ferait une entreprise raisonnablement prudente et diligente dans un domaine où il n'existe actuellement aucune balise législative, jurisprudentielle ou même coutumière permettant de fixer avec justesse le niveau de diligence imposé par le législateur? L'absence de sécurité juridique offerte par une telle situation est patente et nécessite une reconfiguration du cadre opératoire de l'obligation de sécurité informationnelle afin d'en identifier les composantes et les objectifs. Cet exercice passera par la redéfinition de l'obligation de sécurité informationnelle comme obligation de réduire les risques qui guettent l'information à un niveau socialement acceptable. En effet, la sécurité pouvant être définie comme étant la gestion du risque, c'est donc le risque qui réside au cœur de cette obligation. Or, en analysant les risques qui guettent un système, soit en analysant les menaces qui visent à exploiter ses vulnérabilités, il est possible d'établir quelles contre-mesures s'avèrent utiles et les coûts associés à leur mise en œuvre. Par la suite, il devient envisageable, en recourant à la définition économique de la négligence et en prenant compte des probabilités de brèches de sécurité et des dommages escomptés, d'établir les sommes optimales à investir dans l'achat, l'entretien et la mise à jour de ces contre-mesures. Une telle analyse permet ainsi de quantifier avec un certain degré de précision l'étendue de l'obligation de sécurité informationnelle en offrant aux entreprises un outil s'inspirant de données matérielles auxquelles elles ont librement accès et s'intégrant aisément dans le contexte juridique contemporain.

Obligation de flâner : fugues narratives sur les sentiers littéraires

Ce mémoire propose de s’attarder sur la symbolique de la flânerie pour associer le déplacement physique de la marche à l’opération mentale qui l’accompagne, mais aussi pour y tracer un rapprochement avec l’évolution des pratiques de lecture au cours des deux derniers siècles. Si l’on exigeait auparavant du lecteur qu’il se fasse en quelque sorte pèlerin traversant religieusement une œuvre selon la volonté de l’auteur, c’est un tout nouveau lecteur qui revendique le droit d’errer textuellement du Nouveau Roman jusqu’à l’hypertexte. Le concept de parcours narratif se dessine alors ici comme une alternative aux études narratologiques traditionnelles, un nouvel axe herméneutique où le lecteur dynamise ses pratiques de lectures en traçant dans une œuvre ses propres sentiers narratifs. Prenant en exemple l’éclosion hypertextuelle aussi bien que les tortueuses littératures de Kafka et de Camus, il s’agira de voir comment cette lecture-errance a renégocié, dans l’imprimé comme dans le numérique, la relation entre auteur et lecteur pour offrir une littérarité qui soit mise en marche, enfin libre d’être agie, parcourue.

Le droit à la réparation des lésions professionnelles des travailleurs soumis à une obligation de disponibilité : une analyse jurisprudentielle longitudinale

L’obligation de disponibilité du travailleur met en lumière un temps durant lequel le travailleur demeure à la disposition de son employeur malgré le fait qu’il n’accomplit pas concrètement sa prestation de travail, le temps de disponibilité. Conséquence de plusieurs phénomènes, notamment la mondialisation des marchés, la financiarisation de l’économie et l’essor des nouvelles technologies de l’information et de la communication, l’obligation de disponibilité est mal définie par les règles juridiques actuelles au Québec. Considérant cet état du droit, notre mémoire cherche à évaluer dans quelle mesure la Loi sur les accidents du travail et les maladies professionnelles capte l’obligation de disponibilité du travailleur. Pour ce faire, nous avons effectué une analyse quantitative et qualitative de la jurisprudence rendue par la Commission d’appel en matière de lésions professionnelles et la Commission des lésions professionnelles entre 1995 et 2014. Notre mémoire comporte trois volets. Sous un angle plus sociologique, nous voulions examiner si notre population de décisions nous permettait, d’une part, de constituer différentes manifestations-types de l’obligation de disponibilité et d’autre part, de discerner une progression dans le temps du nombre de décisions portant sur une obligation de disponibilité. Enfin, nous désirions examiner dans quelle mesure un travailleur victime d’une lésion durant une période de disponibilité peut se prévaloir des droits accordés par la L.a.t.m.p.. À l’aune de notre mémoire, plusieurs manifestations-types de l’obligation de disponibilité peuvent être en constituées en fonction du moment durant lequel elle se manifeste. L’obligation de disponibilité peut également être rattachée au statut de travailleur autonome. En outre, il semble que la reconnaissance de la lésion professionnelle du travailleur varie en fonction de ces manifestations-types. Cependant, nos résultats ne révèlent pas une progression dans le temps du nombre de décisions portant sur une obligation de disponibilité.

Credit Default Swaps (CDS) y Collateral Debt Obligation (CDO) derivados financieros responsables de la crisis sub-prime de 2008 en Estados Unidos y una guía para el desarrollo del mercado de derivados exóticos en Colombia

La crisis financiera hipotecaria de 2008 en la que se declaró en quiebra el banco de inversión Lehman Brothers, se desarrolló en un ambiente que contemplaba apalancamientos financieros excesivos y el uso de derivados financieros de crédito innovadores. Razón por la cual, a partir del estudio de caso de quiebra de este banco de inversión y el análisis de las causas y consecuencias del ambiente desregulatorio que surgió en Estados Unidos desde la década de los 30 hasta el 2000, se orienta la investigación a indagar sobre lo que sucede en términos regulatorios y empresariales en el mercado de valores colombiano y así lograr definir objetivos que permitan el crecimiento del mercado de derivados exóticos en Colombia bajo un marco de responsabilidad financiera y ética empresarial.

Policy instruments to improve energy efficiency in buildings

The newly adopted energy efficiency directive (2012/27/EU) highlights the importance of energy efficiency in reaching the Union’s 2020 targets. The directive commits member states to defining national energy efficiency targets (art. 3), achieving yearly energy savings of 1.5% of the annual energy sales through the energy efficiency obligation scheme (art. 7), and providing a long-term strategy for the building sector that aims at a 3% refurbishment rate for public buildings (art. 4+5). Buildings currently account for 40% of energy use in most countries, putting them among the largest end-use sectors. This report takes a closer look at the best practices for implementing increasing energy efficiency in different regions and countries in Europe. The final aim is to identify some policy tools to be suggested to the region of Dalarna (Dalarna having been chosen as the pilot county in Sweden) as a means of implementing energy efficiency in the building sector. The final objective is to give analysts and decision-makers a better analytical foundation to explore future policy development in the area of buildings to be proposed and tested at the regional level in Dalarna and later at the national level in Sweden.

Use of social network analysis to indentify the coopetition in a commercial cluster plan

The cluster provides a greater commercial relationship between the companies that comprise it. This encourages companies to adopt competitive structures that allow solving problems that would hardly alone (Lubeck et. Al., 2011). With that this paper aims to describe the coopetition between companies operating on a commercial cluster planned, from the point of view of retailers, taking as a basis the theoretical models proposed by Bengtsson and Kock (1999) and Leon (2005) and operationalized by means of Social Network Analysis (SNA). Data collection consisted of two phases, the first exploratory aspect to identify the actors, and the second was characterized as descriptive as it aims to describe the coopetition among the enterprises. As a result we identified the companies that cooperate and compete simultaneously (coopetition), firms that only compete, companies just cooperate and businesses that do not compete and do not cooperate (coexistence)

Boundary decisions of the firm: make, buy, cooperate

Firms are not atomistic hierarchies only linked with one another at arm’s-length distance in markets. Instead, a myriad of long-lived, highly cooperative relationships between suppliers and customers are pervasively found in the B2B world. And it is within those enmeshed relationships and networks that the co-evolution of capabilities and business specialisms is brought about and developed. If that is the actual ‘topography’ of the business landscape, then the coordination of economic activities in general, and the boundary decisions of each and every firm in particular, are unlikely to be reduced to a (dual) choice between ‘making’ or ‘buying’. Inter-firm cooperation is in itself a third governance structure, in alternative to the hierarchical and the market modes of coordination. And, what is also equally important to note, it is through the make-or-buy-or-cooperate decisions that the (embedded) firm is able to change its nature and scope, redefine its (fuzzy) boundaries, and thus adapt to an ever-changing business setting.

Tumor necrosis factor sensitizes primary murine hepatocytes to Fas/CD95-induced apoptosis in a Bim- and Bid-dependent manner

Fas/CD95 is a critical mediator of cell death in many chronic and acute liver diseases and induces apoptosis in primary hepatocytes in vitro. In contrast, the proinflammatory cytokine tumor necrosis factor α (TNFα) fails to provoke cell death in isolated hepatocytes but has been implicated in hepatocyte apoptosis during liver diseases associated with chronic inflammation. Here we report that TNFα sensitizes primary murine hepatocytes cultured on collagen to Fas ligand (FasL)-induced apoptosis. This synergism is time-dependent and is specifically mediated by TNFα. Fas itself is essential for the sensitization, but neither Fas up-regulation nor endogenous FasL is responsible for this effect. Although FasL is shown to induce Bid-independent apoptosis in hepatocytes cultured on collagen, the sensitizing effect of TNFα is clearly dependent on Bid. Moreover, both c-Jun N-terminal kinase activation and Bim, another B cell lymphoma 2 homology domain 3 (BH3)-only protein, are crucial mediators of TNFα-induced apoptosis sensitization. Bim and Bid activate the mitochondrial amplification loop and induce cytochrome c release, a hallmark of type II apoptosis. The mechanism of TNFα-induced sensitization is supported by a mathematical model that correctly reproduces the biological findings. Finally, our results are physiologically relevant because TNFα also induces sensitivity to agonistic anti-Fas-induced liver damage. CONCLUSION: Our data suggest that TNFα can cooperate with FasL to induce hepatocyte apoptosis by activating the BH3-only proteins Bim and Bid.

Making Research Relevant to Development - Experience from the NCCR North-South

Making research relevant to development is a complex, non-linear and often unpredictable process which requires very particular skills and strategies on the part of researchers. The National Centre of Competence in Research (NCCR) North-South provides financial and technical support for researchers so that they can effectively cooperate with policy-makers and practitioners. An analysis of 10 years of experience translating research into development practise in the NCCR North-South revealed the following four strategies as particularly relevant: a) research orientation towards the needs and interests of partners; b) implementation of promising methods and approaches; c) communication and dissemination of research results; and d) careful analysis of the political context through monitoring and learning approaches. The NCCR North-South experience shows that “doing excellent research” is just one piece of the mosaic. It is equally important to join hands with non-academic partners from the very beginning of a research project, in order to develop and test new pathways for sustainable development. Capacity building – in the North and South – enables researchers to do both: To do excellent research and to make it relevant for development.

Antimicrobial peptide response to blood translocation of bacterial DNA in Crohn's disease is affected by NOD2/CARD15 genotype

Blood translocation of bacterial-DNA has been described in patients with Crohn's disease (CD). The host's immune cell types cooperate to respond against bacterial insults. Some antimicrobial peptides are inducible after culture with bacterial products and a linkage has been established between them and NOD2/CARD15. The aim was to test whether defensins and cathelicidin (LL-37) expression and NOD2/CARD15 mutations in blood neutrophils are related to molecular bacterial translocation events in CD patients.