The UK New Regulatory Framework of High-Cost Short-Term Credit: Is There a Shift Towards a More “Law and Society” Based Approach?

In the wake of the 2008 financial crisis, the consumer credit market in the UK has witnessed a proliferation in the number of high-cost short-term credit (HCSTC) providers promising easy access to credit without the complications of credit history. This act of generosity came at a very high price, which on some occasions reached 4000% APR. After refusing for many years to interfere with the credit price and other aspects of the HCSTC business’ practices, the Government since 2014 started to impose certain regulatory restrictions on the sector including a cost cap, January 2015, on what HCSTC providers can charge. This article argues that the FCA’s credit cost cap and other regulatory measures taken since 2014 signify an important shift in the regulatory approach to HCSTC. It argues that the neoliberal ‘law and economics’ theoretical paradigm is no longer the foundation of the regulatory framework. Instead, the Government has shifted towards a Polanyian ‘law and society’ based approach, which is attentive to the vulnerability of HCSTC consumers and consequently more capable of protecting them. This article concludes by arguing how this newly adopted approach can be further advanced.     

Explaining the Role of Perceived Risk,Knowledge, Price,and Cost in Dry Fish Consumption Within the Theory of Planned Behavior

ABSTRACT

The general purpose of this study is to explore the influence of perceived risk, knowledge, price, and cost of dry fish consumption in Bangladesh using the general framework from the theory of planned behavior (TPB). The field experiments were performed in Bangladesh with a convenience sample of 558 respondents. Multiple regression analysis was used to investigate the relationship among perceived risk, knowledge, price, and cost and TPB constructs. The findings showed that attitude, norms, and procedural knowledge emerge as the key determinants of intention, whereas intention, attitude, norms, and perceived risk have effects on the dry fish consumption frequency. Perceived behavioral control, price, and cost had no significant effect on intention and consumption behavior. The proposed TPB and the extended model both fit the data well and proved the expectations of this study in a promising way. The study found that people are more concerned about potential long-term risk to their family and others. Therefore, management attention should focus on reducing risks which consumers may face through producing safe and hazard-free dry fish.     

Perceived Environmental Dynamism and Managerial Risk Aversion as Antecedents of Manufacturing Outsourcing: The Moderating Effects of Firm Maturity

This study investigates how perceived environmental dynamism and managerial risk aversion influence a firm's manufacturing outsourcing activities. Based on a survey of 86 small manufacturing firms, the study found that higher levels of perceived environmental dynamism and managerial risk aversion are associated with increased outsourcing activity. These relationships are moderated by firm maturity such that newer firms engage in more manufacturing outsourcing than their mature counterparts when the environment is perceived to be more dynamic. Mature firms were found to outsource more than newer firms when their top-management teams were relatively more risk averse.     

Governance and growth of professional service firms

We argue that partnerships are the optimal governance structure for professional service firms (PSFs) based on our analysis of their need for collegial controls, the use of tacit knowledge, and an investigation of agency costs. However, these factors and the resulting choice of partnership as a governance structure constrain the ability of PSFs to successfully pursue growth strategies. In addition, their growth potential is further circumscribed by diversification limitations, as well as reputational and resource constraints.     

To Help or Not to Help? The Good Samaritan Effect and the Love of Money on Helping Behavior

This research tests a model of employee helping behavior (a component of Organizational Citizenship Behavior, OCB) that involves a direct path (Intrinsic Motives → Helping Behavior, the Good Samaritan Effect) and an indirect path (the Love of Money → Extrinsic Motives → Helping Behavior). Results for the full sample supported the Good Samaritan Effect. Further, the love of money was positively related to extrinsic motives that were negatively related with helping behavior. We tested the model across four cultures (the USA., Taiwan, Poland, and Egypt). The Good Samaritan Effect was significant for all four countries. For the indirect path, the first part was significant for all countries, except Egypt, whereas the second part was significant for Poland only. For Poland, the indirect path was significant and positive. The love of money may cause one to help in one culture (Poland) but not to help in others. Results were discussed in the light of ethical decision making.