Beyond borders: Charting the changing global reinsurance landscape

Author(s):

Paula Jarzabkowski

 et al.

This report is the result of a three-year study of the global reinsurance industry, covering the main stakeholders of cedents, reinsurers, and brokers. It examines the implications of profound change arising from shifts in regulation, consolidation in the key players, and increasing competition both within the reinsurance industry and from alternative capital providers.

Updated: 09/02/2017
Comments:
Views: 7,168

How childhood advertising exposure can influence long-term attitudes

Author(s):

Paul Connell

 et al.

This research provides an initial investigation into how exposure to ads in childhood can lead to enduring biases that favour the associated products.

Updated: 09/02/2017
Comments:
Views: 5,508

The impact of Private Equity on employment, wages and human resources management.

Author(s):

Nicolas Bacon

 et al.

The impact of private equity backed leveraged buyouts (LBOs) has attracted increased regulatory scrutiny in the past two decades. This reflects the private equity industry's growing economic importance, and also the increased activity of private equity firms beyond their traditional US and UK markets. Private equity's growing presence in continental Europe in particular has caused considerable public controversy in terms of implications for workers and labour unions. This paper explores the impact of private equity LBOs on three labour management issues central to recent debates: employment and wages; human resource management practices; and industrial relations. We concentrate on these aspects because the impact of private equity LBOs on labour management and workers' interests continues to inform debates concerning the appropriate regulatory framework in which the private equity industry operates.

Updated: 09/02/2017
Comments:
Views: 10,297

Underperformance rife among active mutual fund managers

Almost all active fund managers fail to outperform the market once fees are extracted from returns, according to new research from Cass Business School.

Updated: 09/02/2017
Comments:
Views: 6,905

The economic challenges of an ageing UK population

Les Mayhew, Professor of Statistics at Cass, examines the significance of the impact of demographic changes.

Updated: 09/02/2017
Comments:
Views: 20,597

To what extent is the varieties of capitalism framework transferable? The example of the political economy of Thailand.

Author(s):

Chris Rowley

 et al.

There are common calls for economies to 'upgrade' and 'upskill' and move up the value chain. On this basis, the research here highlights the importance of integration and the inter-locking nature of business systems. It then examines the 'varieties of capitalism' (VOC) in respect of its wider applicability, particularly to Asia, using Thailand as an example. Finally, the influence of national cultural values is highlighted, as they prove a crucial element in any VOC analysis.

Updated: 09/02/2017
Comments:
Views: 9,441

The Trend is our Friend: Risk Parity, Momentum and Trend Following in Global Asset Allocation

An examination of the effectiveness of applying a trend following methodology to global asset allocation between equities, bonds, commodities and real estate.

Updated: 09/02/2017
Comments: 49
Views: 14,540

Reverse Knowledge Transfer from Subsidiaries to Multinational Companies: Examples From South Korea

Author(s):

Chris Rowley

 et al.

The debate around primary determinants influencing Reverse Knowledge Transfer has yet to attain academic consensus. This paper draws an overall picture of Reverse Knowledge Transfer from subsidiaries to parent firms, particularly in the context of an energetic emerging market, by incorporating all the different facets of the phenomenon. The research is based on a sample of subsidiary companies located in South Korea.

Updated: 09/02/2017
Comments: 12
Views: 10,588

Credit rating migration risk and business cycles

Author(s):

Elena Kalotychou

 et al.
Topic:
Finance
Industry:
Banking

The recent global financial crisis has served as a stark reminder of the crucial role of systematic stress testing of financial institutions' portfolios, particularly, their lending books. In response to the regulatory deficiencies thus revealed, Basel III is seeking to achieve the broader macroprudential goal of protecting the banking sector from periods of excess credit growth by requesting longer horizon default probabilities, downturn loss-given-default measures and improved calibration of risk models.

A Mixture of Markov Chains (MMC) approach is proposed to estimate credit rating migration risk that controls for the business-cycle evolution during the relevant time horizon in order to ensure adequate capital buffers both in good and bad times.

Updated: 09/02/2017
Comments: 10
Views: 16,240