Corporate Governance in Canadian and US Credit Unions

This report, a collaborative effort between the Filene Research Institute and the Credit Union Central of Canada, with participation from the Desjardins Group, follows on two recent governance projects: Tracking the Relationship Between Credit Union Governance and Performance and a three-part series by Professor Robert Hoel about how boards can add more value. Beyond these, the academic literature of corporate governance is well developed, so this study includes an in-depth review of financial institution governance research and calls out the differences between credit unions and other firms. Also, because surveys can only go so far in teasing out insights, the authors followed up with a dozen interviews with credit unions of all sizes across all three major North American credit union systems.

Because the report is survey-based, large swaths of the findings compare major and minor details of different (and often not-so-different) approaches to governance in the three systems and among differently sized credit unions. From those comparisons, some interesting differences emerge. For example, as a federated system, Desjardins excels at some aspects of board development and system governance in ways that the more atomized US and Canadian credit union systems do not.

Irresponsible Lending?: A Case Study of a U.K. Credit Industry Reform Initiative

There are major concerns about the level of personal borrowing, particularly sourced from credit cards. This paper charts the progress of an initiative to create a Responsible Lending Index (RLI) for the credit industry. The RLI proposed to voluntarily benchmark lending standards and promote best practice within the credit industry by involving suppliers of credit, customer representatives and regulators. However, despite initial support from some banks, consumer bodies and the Chair of the Treasury Select Committee, it failed to gain sufficient support from financial institutions in its original format. The primary reasons for this were related to the complexity of building such a robust index and the banks trade body’s fear of exposing its members to public scrutiny. A revised alternative, the Responsible Lending Initiative, was proposed which took into account these concerns. However, the Association of Payment Clearing Service (APACS), the trade body of the credit industry, then effectively destroyed the proposal. This article describes an attempt to address the challenges in the credit card industry with the initiation of the RLI, reflected in stakeholder discourse and in the context of a wider concern expressed by the involved stakeholders in terms of the need for greater responsibility in the banking industry’s lending practices.

Human resource management practices in the multinational company: A test of system, societal, and dominance effects

Does the use of HRM practices by multinational companies (MNCs) reflect their national origins or are practices similar regardless of context? To the extent that practices are similar, is there any evidence of global best standards? The authors use the system, societal, and dominance framework to address these questions through analysis of 1,100 MNC subsidiaries in Canada, Ireland, Spain, and the United Kingdom. They argue that this framework offers a richer account than alternatives such as varieties of capitalism. The study moves beyond previous research by differentiating between system effects at the global level and dominance effects arising from the diffusion of practices from a dominant economy. It shows that both effects are present, as are some differences at the societal level. Results suggest that MNCs configure their HRM practices in response to all three forces rather than to some uniform global best practices or to their national institutional contexts.

Early Implementation of Building Information Modeling into a Cold-Formed Steel Company: Providing Novel Project Management Techniques and Solutions to Industry

The ability of building information modeling (BIM) to positively impact projects in the AEC through greater collaboration and integration is widely acknowledged. This paper aims to examine the development of BIM and how it can contribute to the cold-formed steel (CFS) building industry. This is achieved through the adoption of a qualitative methodology encompassing a literature review, exploratory interviews with industry experts, culminating in the development of e-learning material for the sector. In doing so, the research team have collaborated with one of the United Kingdom’s largest cold-formed steel designer/fabricators. By demonstrating the capabilities of BIM software and providing technical and informative videos in its creation, this project has found two key outcomes. Firstly, to provide invaluable assistance in the transition from traditional processes to a fully collaborative 3D BIM as required by the UK Government under the “Government Construction Strategy” by 2016 in all public sector projects. Secondly, to demonstrate BIM’s potential not only within CFS companies, but also within the AEC sector as a whole. As the flexibility, adaptability and interoperability of BIM software is alluded to, the results indicate that the introduction and development of BIM and the underlying ethos suggests that it is a key tool in the development of the industry as a whole.

The Biospheric Project - Manchester International Festival 2013:Technical food systems

The Biospheric Project is a nested multi-scalar urban agriculture project that aims to develop sustainable food systems in disadvantaged communities, though not only physical interventions, such as the urban masterplan and neighbourhood design to the building and its roof and façade, but also through social and commercial interventions, such as community involvement, businesses and a distribution system.

The project is focused around the Biospheric Foundation, a community interest company and research think-tank whose aim is to hasten our transition to a closed cycle, low-carbon economy. Its home is Irwell house, that houses a large-scale aquaponic-based food production system, which is directly linked to a whole-food shop (78 Steps, named after the distance from the productive system) and a whole food distribution system (the Whole Box). The building sits within a post-industrial landscape which is being developed into a new productive landscape, utilizing the the technologies developed by the Biospheric Foundation and Prof Greg Keeffe of Queens University Belfast. The collaboration links designer, academics and activists across the disciplines of Urban design, Architecture, Permaculture, landscape design, environmental science and business and community.

Government Influence on the Construction Industry during the Economic Recession 2007 - 2013

Due to the high degree of international and economic integration across the globe, the 2007 global financial crisis quickly spread, causing recessions and widespread credit restrictions in advanced nations. During recessions, economic fluctuations cause dramatic changes to the market structure of industries, in particular, that of the construction sector. These structural changes can be further influenced by government strategies and policies; which if used incorrectly, can serve to fuel and exacerbate downturns. In contrasting form, during an economic recession, government strategies and policies can also be used to aid in exiting such economic turbulence. From an extensive review of literature it became apparent that very little research offered a comprehensive and systematic overview of Irish and UK construction related government policies and strategies adopted during recessions; hence the emergence of this topic. As part of an ongoing research PhD, the purpose of this paper is to collate and group Irish and UK Government strategies and policies adopted for the construction sector during the recession period 2007-2013; resulting in the establishment of a construction industry development framework and a taxonomic framework. The results reveal serious problems with the national strategic plan for the Irish construction industry, given that there is no overseeing body or target dates for implementation of the proposed actions. Furthermore, both countries failed to prioritize the proposed key actions within their strategic plans. The findings of this paper can be applied in the context of the construction sector to address shortcomings in the respective sub-sectors, while also aiding policy makers and company executives in mapping out future strategic milestones.