The New Political Economy of EU State Aid Policy

Despite its importance and singularity, the EU’s state aid policy has attracted less scholarly attention than other elements of EU competition policy. Introducing the themes addressed by the special issue, this article briefly reviews the development of EU policy and highlights why the control of state aid matters. The Commission’s response to the current economic crisis notably in banking and the car industry is a key concern, but the interests of the special issue go far beyond. They include: the role of the European Commission in the development of EU policy, the politics of state aid, and a clash between models of capitalism. The special issue also examines the impact of EU policy. It investigates how EU state aid decisions affect not only industrial policy at the national level (and therefore at the EU level), but the welfare state and territorial relations within federal member states, the external implications of EU action and the strategies pursued by the Commission to limit any potential disadvantage to European firms, and the conflict between the EU’s expanding legal order and national.     

Exchange Rate Volatility and International Trade Flows in sub-Saharan Africa: Empirical Evidence

In this article, the authors examine the relationship between the volatility in exchange rates and the volume of international trade in sub-Saharan African countries. Using the gravity equation and annual data for the period 1998–2007, they find a statistically significant and negative correlation between the volatility in exchange rates and the volume of trade. The estimated elasticities show that the responsiveness of the flow of international trade to changes in exchange rate volatility is very small. This suggests that eliminating the volatility in the exchange rates will result in only small increments in the volume of trade. Accordingly, pursuing a policy of exchange rate stability would not be sufficient to significantly increase the volume of bilateral trade in the sub-Saharan African region.     

The institutional work of a social enterprise operating in a subsistence marketplace: Using the business model as a market‐shaping tool

The void between formal and informal institutionalized practices that coexist in subsistence marketplaces can render them inaccessible to subsistence consumer–merchants. We conducted an in‐depth auto‐ethnographic study of Novo Dia Developments, a social enterprise in Maputo, Mozambique, seeking to make the housing market accessible. Our study extends the extant understanding of the transformation of subsistence marketplaces in two ways. First, our study characterizes the institutional work done by a social enterprise to open up a subsistence marketplace. Second, our study theorizes the business models in use as a mechanism through which institutional work can be organized and performed, by (a) transforming an idea for market change into new market offerings and practices that begin to fill the void, (b) materializing and making visible other institutional voids that need to be filled, and (c) serving as a juncture at which formal and informal institutionalized practices can connect.     

Creating consumer satisfaction in maternity care: the neglected needs of migrants,asylum seekers and refugees

An estimated 190 million people are now living outside their countries of birth or citizenship, and the rate of this migration is expected to remain high. The resulting growing cultural and ethnic diversity in societies adds specific challenges to the requirement of delivering public services such as health care to consumers. Globally, about half of the migrant population are women. Migrants’ outcomes of pregnancy are known to be poor, showing significant disparities when compared with those of native populations. Although these disparities have been noted, knowledge is limited regarding the availability and accessibility of healthcare services, as well as the acceptability of maternity care for women with experiences of free and forced migration. Healthcare research in general, and maternity care research specifically, have often neglected this population. This paper examines the existing international guidelines intended to address inequities in health outcomes, policies which have been introduced at national levels, and the widely used concepts of ‘patient‐centred’ and ‘woman‐centred’ health services. The ideals implicit in those guidelines and concepts are contrasted with the available evidence of many overseas nationals’ experiences with healthcare provisions in general, and maternity care in particular. This is followed by reflections on deficiencies in current studies and on those methodological problems which make research on maternity care for migrant women particularly challenging. The conclusion considers the appropriateness and relevance of guidelines currently promoting equity in maternity care and suggests a future agenda for priority research.     

Does risk disclosure in prospectus matter in ChiNext IPOs’ initial underpricing?

Review of Quantitative Finance and Accounting - Using a unique and hand-collected dataset, we investigate the impact of the risk factors disclosed in the prospectuses on the initial returns for...     

Resolving International Conflict Jordan and its Neighbours

This article puts on record the first of the 1996 Stockton Lectures at London Business School. It was delivered in February. This year, the Stockton Lectures address the issue of how the business community can help resolve international conflict. Continuously for decades, Jordan has been at the heart of an area of international conflict. Here His Majesty King Hussein, who has led his country since 1952, reflects both on the struggles of the past decades and on his grandfather's vision for peace. He then looks forward to the ways that business can help the people of Jordan to reap the peace dividend.     

The innovative process in financial accounting standards setting

Most of the literature in the area of accounting change points to the fact that economic advantage and technical considerations are not the only factors influencing the adoption or non-adoption of accounting changes. This paper describes and illustrates the proposition that change in financial accounting standards is a social process that approximates a diffusion and adoption of innovation process.     

Indo-Pakistan strife at the poor man’s cost

What is the new problem of the so called “Bangla Desh”? Is it a real revolt of the East Pakistanis against the West Pakistanis or is It rather a strife between India and Pakistan? These are some of the questions arising from the Indo-Pakistan conflict.