{"title":"European Arrest Warrant and Human Rights of the Accused","authors":"V. Terziev, Marin Petkov, Krastev Dragomir","doi":"10.2139/ssrn.3838630","DOIUrl":"https://doi.org/10.2139/ssrn.3838630","url":null,"abstract":"Extradition is one of the issues that Europe was committed from the outset, so the first convention about this issue was made in 1957 by the Council of Europe. The European arrest warrant was established by an EU framework decision in 2002. With the ratification of the Council Framework Decision of 13 June 2002 on the European arrest warrant and the surrender procedures between Member State, EAW abolished formal extradition between EU Member States and replaced it by a system of surrender. The EAW radically changed existing arrangements of cooperation (however the EU Member States may continue to apply bilateral or multilateral agreements between EU member States). The purpose was to eliminate differences among legal systems in all Member States, when these are contrasting with EU minimum standard. Member States are obligated to implement framework decision into national legislation .","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130279002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Long-Term Investments","authors":"Julia M. Puaschunder","doi":"10.2139/ssrn.3202612","DOIUrl":"https://doi.org/10.2139/ssrn.3202612","url":null,"abstract":"Investments account for future prospects. Long-term investment are based on discounting future anticipations. Socially Responsible Investments (SRIs) were historically focused on long-term considerations. Long-term investment holds socio-psychological and leadership advantages, such as altruism benefits and first-mover gains. The UN and the private sector are pivotal in ingraining a long-term view into the finance world. In the age of global warming, attention for intergenerational aspects of future investments has gained unprecedented momentum. Political divestiture with a long-term investment view is one of the most recent trends in investment policies, foremost as practiced in carbon divestiture. Future research may integrate social, environmental and intergenerational aspects in long-term financial discounting calculus.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130711581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Futuristic Trends in Integrated Logistics Quality","authors":"A. Aggarwal","doi":"10.2139/ssrn.3184131","DOIUrl":"https://doi.org/10.2139/ssrn.3184131","url":null,"abstract":"This paper aims at appreciating the need for and relevance of understanding futuristic trends in logistics Quality. In view of the changing nature of global business environment and competition, what are the most immediate impacts on the supply chain and its management? What are the markets and organizational influences that impact on international/global integrated logistics decisions? What are the rationale and quantifiable benefits of integrated logistics quality? What are the important considerations in the development of a modern and intelligent integrated logistics quality programme fit for the twenty-first century? This paper attempts to find out the rational answers of these queries and broaden the perspective regarding the concept of quality, supply chain management, integrated logistics quality and other concerning areas by creating awareness about necessity to manage transition at the right time to more effectively cope with, and manage, the growth process. It is intended to equip the marketers and practitioners to focus on creating a good understanding of the management issues associated with trends in logistics Quality. Once the firm is focused, the approach will be to cover key issues of relevance and provide a good overall understanding of the Quality management challenges in the context of dynamism of supply chain management and Total Quality assurance.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132103283","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Global Competitiveness of the Indian Economy","authors":"A. Aggarwal","doi":"10.2139/ssrn.3184148","DOIUrl":"https://doi.org/10.2139/ssrn.3184148","url":null,"abstract":"This paper aims at appreciating the need for and relevance of understanding global competitiveness of the Indian economy and futuristic trends. This attempt would primarily focus on issues related to changing business paradigms under globalization and resulting competitiveness of India among the world’s most competitive economies. In view of the changing nature of global business environment and competition, what are the most immediate impacts on Indian economy which determine its competitiveness among the economies of the rest of the world? An attempt has been made to understand the country’s rank among the world’s most competitive nations. This paper attempts to find out the rational answers of these queries related to the grave concern of the people and broaden the perspective regarding the concept of economy competitiveness, competitiveness ranking and other concerning areas by creating awareness about necessity to manage transition at the right time to more effectively cope with, and manage, the growth process. Competitiveness rankings are viewed as a barometer of the business climate in different countries across the world and mirror the assessments of leading businessmen on a range of political, social, and economic parameters. It is intended to equip the concerned stakeholders to focus on creating a good understanding of the management issues associated with trends in economic perceptions about the country at the world level. Attempts are focused on providing the most updated and recent data, rankings, and analysis of industrialized and emerging economies, and the latest thinking and research from prominent academics and international institution leaders on global competitiveness.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"407 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116535008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Berthold Herrendorf, Richard Rogerson, Á. Valentinyi
{"title":"Structural Change in Investment and Consumption: A Unified Approach","authors":"Berthold Herrendorf, Richard Rogerson, Á. Valentinyi","doi":"10.3386/w24568","DOIUrl":"https://doi.org/10.3386/w24568","url":null,"abstract":"Existing models of structural change typically assume that all of investment is produced in manufacturing. This assumption is strongly counterfactual: in the postwar US, the share of services value added in investment expenditure has been steadily growing and it now exceeds 0.5. We build a new model, which takes a unified approach to structural change in investment and consumption. Our unified approach leads to three new insights: technological change is endogenously investment specific; having constant TFP growth in all sectors is inconsistent with structural change and aggregate balanced growth occurring jointly; the sector with the slowest TFP growth absorbs all resources asymptotically. We also provide empirical support from the postwar US for the first and third insight.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124773699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comparison between the Velocities of Escaped Savings with than of Financial Liquidity","authors":"Constantinos Challoumis Κωνσταντίνος Χαλλουμής","doi":"10.2139/ssrn.3169817","DOIUrl":"https://doi.org/10.2139/ssrn.3169817","url":null,"abstract":"This paper is about the comparison of the velocity of cycle of money with the velocity of financial liquidity. This analysis is based on the cycle of money in combination with the velocity of escaped savings with the velocity of financial liquidity. This means that used the escaped savings and the enforcement savings as are parts of these velocities. Thence, we compare the velocity of the financial liquidly with the velocity of the escaped savings. Then, we extract conclusions between these velocities. The method which used is the Q.E. method.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115026798","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Robust and Interpretable Liquidity Proxy","authors":"R. Rebonato, Hong Sherwin","doi":"10.2139/ssrn.3165600","DOIUrl":"https://doi.org/10.2139/ssrn.3165600","url":null,"abstract":"In this paper we provide an operational definition of market and funding liquidity, and we introduce a method to create two interpretable liquidity measures, which we associate to these two types of liquidity. The construction is based on creating two parsimonious linear combinations of the many liquidity proxies often used in the liquidity literature. We show that all these underlying proxies display mean-reverting behaviour, but are characterized by very different reversion speeds. The differences in reversion speeds are inherited by our two liquidity measures, which naturally sort the underlying proxies into slowly and fast mean-reverting. Given our model, we manage to attribute a precise financial interpretation to our two liquidity measures. Our construction does not require transaction-level data (such as volume or bid-offer spreads), and correlates well both with other measure that do, and with liquidity proxies (liquidity as 'noise', liquidity as broker-dealer leverage) recently introduced in the literature. We show a possible application of our measure to an asset pricing problem.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"200 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121551732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Companies Act 2006: A Panacea to Stakeholders’ Struggles and Socially Responsible Firms, or a Mechanism to Enrich Already Rich?","authors":"Yomi Olalere","doi":"10.2139/ssrn.3457940","DOIUrl":"https://doi.org/10.2139/ssrn.3457940","url":null,"abstract":"Much has been said about the shareholders’ interests in organization they invest, with focus on the wealth maximization and directors’ remuneration that continues to rise faster than the shareholders’ values. Traditionally, investors are inclined to invest in organizations that project viability for growth and profitability. However, various scandals and mishaps across many organizations have left the investors in awe, wondering how institutional interests can be aligned the directors’ objectives to achieve their wealth maximization objectives. <br><br>Jensen & Meckling (1976) suggested that the failure to meet this objective can be rectified by corporate governance mechanisms, which ensures on one hand the enhancement of shareholder wealth and on another, the alignment of the interests of management with shareholders. Social responsibilities have been declared a core component of a good corporate governance. Corporate social responsibility (CSR) is a model of corporate governance (CG) extending fiduciary duties from fulfillment of responsibilities towards the firm’s owners to fulfillment of analogous fiduciary duties towards all the firm’s stakeholders. (Lorenzo Sacconi, 2012). This paper intends to critically analyze the impact of Companies Act, 2006 on safeguarding the interest of all stakeholders, including the socially responsible firms.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"90 11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125584712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Changing Geography of Finance - Shifting Financial Flows, and the New Financial Hubs: Shanghai and Paris?","authors":"M. Campanella","doi":"10.2139/ssrn.3202644","DOIUrl":"https://doi.org/10.2139/ssrn.3202644","url":null,"abstract":"The gyrations of capital flows during and after the recent financial crisis have declined somewhat, as shown by the weakening of uphill flows of capital to US Treasury bonds. Financial flows to emerging economies have stabilised, and reserve managers in central banks are taking a few credit risks compared to the usual “flight to quality”, as the economy emerges from a structural reduction in US Treasury bonds. These themes are reflected in the new geography of capital markets, which is beginning to see new large continent-sized jurisdictions taking centre stage. The purpose of this Report is to provide, through an overview of the structural factors that are shaping the new geography of finance, the rationales behind the emergence of new Financial Hubs in Asia-China and Europe.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134013501","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Finance, Talent Allocation, and Growth","authors":"Francesco D’Acunto, L. Frésard","doi":"10.2139/ssrn.3102825","DOIUrl":"https://doi.org/10.2139/ssrn.3102825","url":null,"abstract":"The growing finance wage premium is related to a modest net reallocation of skilled workers from non-finance sectors into finance in a broad sample of 24 countries over 35 years. The reallocation is higher when the finance wage premium grows faster than the contribution of the financial sector to the economy, which we proxy with the relative value added of finance. More innovative sectors and sectors exhibiting lower labor-transition costs face a higher reallocation of skilled workers. Yet, the growing finance wage premium is unrelated to sectoral or aggregate growth, to countries’ innovative capacity, to student enrollment in STEM degrees, and to the riskiness, efficiency, and competitiveness of banking sectors. Overall, the reallocation of skilled labor implied by a growing finance wage premium appears too modest to materially affect economic growth.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117165830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}