Collateral times

Abstract

Today’s financial system essentially relies on the pledge of collateral. A closer look at this uniquely cross-disciplinary instrument not only reveals a remarkable absence in the modern disciplines but also a close relationship with money. This connection is brought into theoretical perspective by analysing the role of pledge in three historical configurations. In ancient Greece, symbola and horoi stones emerge as two distinct devices to secure contract that become entwined in seventeenth–eighteenth century pledge-theories of money as witness and object of exchange. Together these throw new light on the contemporary form of shadow money as a distinct marriage of security and safety.     

Towards an emerging paradigm of strategic communication: Core driving forces

Abstract

Major forces such as globalisation, the digital network revolution and the empowerment of myriad new stakeholders have resulted in a blurring of communication genres such as marketing and corporate communications, and are redefining the role of the communications professional within business and society. Such fundamental changes require that both scholars and practitioners challenge their own assumptions and consider the implications of these paradigm shifts. The values of the modernist age, resulting in linear, top-down, consensus-seeking decision-making behaviour, must be revisited to make way for emerging values such as activism, dialogue, communal values and dissent, which allow for co-creation and a multiplicity of viewpoints. This article reflects on paradigmatic debates and identifies shifts from modern to postmodern organisational practice, and how these impact on communication practices and integrated communication. Consideration is given to some theoretical, practical, research and educational implications of these shifts as core driving forces towards the new emerging paradigm of strategic communication, which can best be conceptualised as purposeful communication to realise the organisational mission.     

Fathers’ patenting behavior and the propensity of offspring to patent: an intergenerational analysis

In this paper we show that the patenting behavior of innovators is correlated with the patenting behavior of their fathers. Our argument for exploring this relationship stems from established theories of entrepreneurial behavior, specifically theories on intergenerational behavior. Our empirical analyses are based on survey data collected from MIT’s Technology Review (TR) winners.     

How Can the European Union Contribute to a COP-6 Agreement? An Overview for Policy Makers

During the 6th Conference of Parties (COP-6) in The Hague, the Netherlands, November 2000, crucial progress on a number of outstanding issues related to the Kyoto Protocol will have to be made to open the way for its early ratification, if not to save it from complete failure. Given the present lack of internal US political support for the Kyoto Protocol, the EU may play a pivotal role in making the Kyoto Protocol agreement a reality even without initial ratification of the US, if its able to provide sufficient leadership. In this overview article we discuss the main issues under negotiation, the problems of finding agreement and opportunities for the EU to catalyse a compromise agreement at COP-6, building on key scientific papers as included in this issue and discussions at the European Forum on Integrated Environmental Assessment Climate Policy Workshop in Amsterdam. Key elements are the inclusion of sinks, the use of the Kyoto Protocol mechanisms as a supplement to domestic action and the international compliance system. Domestic implementation of climate policy is a major factor for the EU's credibility.     

Barriers Inhibiting Industry from Partnering with Universities: Evidence from the Advanced Technology Program

This paper describes a small, unique set of project data that was assembled as part of a larger study on universities as research partners. Herein, we summarize, to the extent possible, our interpretation of what the project data reveal about barriers, intellectual property (IP) concerns in particular, inhibiting industry from partnering with universities.     

Public support for private R&D: The case of the research tax credit

The U.S. government has long included in its tax code various special provisions designed to stimulate industrial R&D. In 1981, those provisions were substantially augmented by a special R&D tax credit, and various proposals are now under consideration to relax the antitrust statutes in order to encourage research through joint ventures. The case for any of these measures is difficult to establish, being based on assumptions that are not readily tested in objective terms. Nevertheless, one point is fairly clear: As between stimulating industrial R&D by individual firms and stimulating R&D joint ventures of such firms, the joint venture approach appears superior in its likely results.     

Mandatory Arbitration and Civil Litigation: An Empirical Study of Medical Malpractice Litigation in the West

This article looks at the effect that pretrial, statutorilyrequired screening panels in Nevada have had on medical malpracticelitigation. I use two unique data sets on litigation in Nevadaand neighboring states from 1983–88, during which theNevada legislature enacted screening panels. Applying time-seriesand difference-in-difference analyses, I show that observeddecreases in Nevada with respect to damage awards, attorney'sfees, and duration in litigation reflected a broader seculartrend. The panels did, however, reduce the relative probabilityof claims requiring resolution by the Nevada courts.