Eric Lesser and Lawrence Prusak (eds)
- Published in print:
- 2004
- Published Online:
- October 2005
- ISBN:
- 9780195165128
- eISBN:
- 9780199835751
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195165128.001.0001
- Subject:
- Economics and Finance, Financial Economics
The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the ...
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The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the marketplace. Knowledge management has become one of the core competencies in today's competitive environment, where so much value in companies resides in their people, systems, and processes. This book examines a variety of important knowledge-related topics, some of which has been previously published in such journals as the Harvard Business Review, California Management Review, and the Sloan Management Review, such as the use of informal networks, communities of practice, the impact of knowledge on successful alliances, social capital and trust, narrative and storytelling and the use of human intermediaries in the knowledge management process. The book includes contributions from such leading thinkers as Lawrence Prusak, Dorothy Leonard, Eric Lesser, Rob Cross, and David Snowden. This book synthesizes some of the best thinking by the IBM Institute for Knowledge-Based Organizations, a think tank whose research agenda focuses on the management methods for deriving tangible business value from knowledge management and their real-world application.Less
The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the marketplace. Knowledge management has become one of the core competencies in today's competitive environment, where so much value in companies resides in their people, systems, and processes. This book examines a variety of important knowledge-related topics, some of which has been previously published in such journals as the Harvard Business Review, California Management Review, and the Sloan Management Review, such as the use of informal networks, communities of practice, the impact of knowledge on successful alliances, social capital and trust, narrative and storytelling and the use of human intermediaries in the knowledge management process. The book includes contributions from such leading thinkers as Lawrence Prusak, Dorothy Leonard, Eric Lesser, Rob Cross, and David Snowden. This book synthesizes some of the best thinking by the IBM Institute for Knowledge-Based Organizations, a think tank whose research agenda focuses on the management methods for deriving tangible business value from knowledge management and their real-world application.
Thomas H. Stanton
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199915996
- eISBN:
- 9780199950324
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199915996.003.0001
- Subject:
- Economics and Finance, Financial Economics
Chapter 1 is the introduction and overview. It introduces the core questions of the book: Why did so many major firms fail to protect themselves and their shareholders from failure in the financial ...
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Chapter 1 is the introduction and overview. It introduces the core questions of the book: Why did so many major firms fail to protect themselves and their shareholders from failure in the financial crisis? What were key differences in governance and management between firms that weathered the crisis and those that succumbed? And what can be done to improve both public and private organizations in the future? The chapter introduces the idea of “constructive dialogue” as a critical indicator of the quality of governance and management of a firm. This book is not only about the financial crisis: it provides lessons about organization, governance and management of private and public organizations more generally and the need to strengthen the institutions upon which all of us depend for our safety and economic well being.Less
Chapter 1 is the introduction and overview. It introduces the core questions of the book: Why did so many major firms fail to protect themselves and their shareholders from failure in the financial crisis? What were key differences in governance and management between firms that weathered the crisis and those that succumbed? And what can be done to improve both public and private organizations in the future? The chapter introduces the idea of “constructive dialogue” as a critical indicator of the quality of governance and management of a firm. This book is not only about the financial crisis: it provides lessons about organization, governance and management of private and public organizations more generally and the need to strengthen the institutions upon which all of us depend for our safety and economic well being.
Kern Alexander, Rahul Dhumale, and John Eatwell
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780195166989
- eISBN:
- 9780199783861
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195166989.003.0005
- Subject:
- Economics and Finance, Financial Economics
This chapter assesses the current international legal framework that governs international monetary and financial relations. The international economic organizations with responsibility in these ...
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This chapter assesses the current international legal framework that governs international monetary and financial relations. The international economic organizations with responsibility in these areas are the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (World Bank), and the World Trade Organization (WTO). The chapter also examines the two major regional trade agreements that govern cross-border trade in financial services and capital flows: the European Community's treaty regime and legislative framework and the North American Free Trade Agreement (NAFTA).Less
This chapter assesses the current international legal framework that governs international monetary and financial relations. The international economic organizations with responsibility in these areas are the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (World Bank), and the World Trade Organization (WTO). The chapter also examines the two major regional trade agreements that govern cross-border trade in financial services and capital flows: the European Community's treaty regime and legislative framework and the North American Free Trade Agreement (NAFTA).
Kern Alexander, Rahul Dhumale, and John Eatwell
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780195166989
- eISBN:
- 9780199783861
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195166989.003.0004
- Subject:
- Economics and Finance, Financial Economics
This chapter assesses the evolution of international standard setting in financial markets by examining the characteristics of the various international bodies, such as the Basel Committee on Banking ...
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This chapter assesses the evolution of international standard setting in financial markets by examining the characteristics of the various international bodies, such as the Basel Committee on Banking Supervision and the International Organization of Securities Commissions, that are involved in international standard setting. Topics discussed include international financial institutions, supervisory structures for financial conglomerates, the Financial Action Task Force, and financial crises from the 1990s and onwards.Less
This chapter assesses the evolution of international standard setting in financial markets by examining the characteristics of the various international bodies, such as the Basel Committee on Banking Supervision and the International Organization of Securities Commissions, that are involved in international standard setting. Topics discussed include international financial institutions, supervisory structures for financial conglomerates, the Financial Action Task Force, and financial crises from the 1990s and onwards.
Robert H. Chenhall
- Published in print:
- 2006
- Published Online:
- May 2007
- ISBN:
- 9780199283361
- eISBN:
- 9780191712623
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199283361.003.0005
- Subject:
- Economics and Finance, Financial Economics
This chapter examines recent innovations in performance measurement systems and identifies evidence about their effectiveness in assisting managers improve performance. The innovations studied were: ...
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This chapter examines recent innovations in performance measurement systems and identifies evidence about their effectiveness in assisting managers improve performance. The innovations studied were: economic value measures, non-financial measures, and integrated performance measures. Drawing on contingency thinking, the proposition is that it is unlikely that these innovations will be appropriate for all organizations. It was concluded that positive benefits are not universalistic. Different innovative performance measures may best suit particular contexts. While existing research into the effects of contingencies on performance measure is limited, there are sufficient clues to suggest that the external environment and strategy, technology, structure, and size are likely to be important when considering the suitability of different performance measures.Less
This chapter examines recent innovations in performance measurement systems and identifies evidence about their effectiveness in assisting managers improve performance. The innovations studied were: economic value measures, non-financial measures, and integrated performance measures. Drawing on contingency thinking, the proposition is that it is unlikely that these innovations will be appropriate for all organizations. It was concluded that positive benefits are not universalistic. Different innovative performance measures may best suit particular contexts. While existing research into the effects of contingencies on performance measure is limited, there are sufficient clues to suggest that the external environment and strategy, technology, structure, and size are likely to be important when considering the suitability of different performance measures.
Ranald C. Michie
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199242559
- eISBN:
- 9780191596643
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199242550.003.0004
- Subject:
- Economics and Finance, Economic History, Financial Economics
The first section of this chapter looks at the internationalization of the London securities market over the period from 1850 to 1914. This was influenced both by transferable securities becoming ...
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The first section of this chapter looks at the internationalization of the London securities market over the period from 1850 to 1914. This was influenced both by transferable securities becoming commonplace for governments and businesses around the world, and by the transformation of communications with the development of the telegraph and then the telephone. These developments necessitated increased capacity to cope with the growing volume of securities traded, which included expansion of the trading floor, increasing membership, and the attraction of new people into the profession of stockbroking. The second section looks at the accompanying changes in the organizational and physical structure of the London Stock Exchange. The remaining sections look specifically at the expansion of membership, relationships and rivalry within the Stock Exchange, and the relationship of the Exchange to the money and capital (securities) markets.Less
The first section of this chapter looks at the internationalization of the London securities market over the period from 1850 to 1914. This was influenced both by transferable securities becoming commonplace for governments and businesses around the world, and by the transformation of communications with the development of the telegraph and then the telephone. These developments necessitated increased capacity to cope with the growing volume of securities traded, which included expansion of the trading floor, increasing membership, and the attraction of new people into the profession of stockbroking. The second section looks at the accompanying changes in the organizational and physical structure of the London Stock Exchange. The remaining sections look specifically at the expansion of membership, relationships and rivalry within the Stock Exchange, and the relationship of the Exchange to the money and capital (securities) markets.
Ranald C. Michie
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199242559
- eISBN:
- 9780191596643
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199242550.003.0006
- Subject:
- Economics and Finance, Economic History, Financial Economics
Although the London Stock Exchange had begun to review its rules and regulations from September 1916 onwards, there was very little planning to meet the problems and competition likely to be faced in ...
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Although the London Stock Exchange had begun to review its rules and regulations from September 1916 onwards, there was very little planning to meet the problems and competition likely to be faced in the post‐First World War world. Despite all the changes inside and outside the Stock Exchange that had taken place since August 1914, there was only a limited recognition that these had more than temporary consequences. This chapter discusses the resultant challenges and opportunities in the period between the two wars. There are three sections, which look at the legacy of war, the organization of the Stock Exchange, and membership. The next chapter looks at the changing market place over the same period.Less
Although the London Stock Exchange had begun to review its rules and regulations from September 1916 onwards, there was very little planning to meet the problems and competition likely to be faced in the post‐First World War world. Despite all the changes inside and outside the Stock Exchange that had taken place since August 1914, there was only a limited recognition that these had more than temporary consequences. This chapter discusses the resultant challenges and opportunities in the period between the two wars. There are three sections, which look at the legacy of war, the organization of the Stock Exchange, and membership. The next chapter looks at the changing market place over the same period.
Ranald C. Michie
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199242559
- eISBN:
- 9780191596643
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199242550.003.0007
- Subject:
- Economics and Finance, Economic History, Financial Economics
As a successor to the previous chapter, which looked at organizational change in the London Stock Exchange between the two World Wars, this one looks at the changing market place over the same ...
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As a successor to the previous chapter, which looked at organizational change in the London Stock Exchange between the two World Wars, this one looks at the changing market place over the same period. The first part of the chapter discusses competition from British provincial stock exchanges, from international arbitrage, and from North American and continental banks. The second part looks at the money market, and the last looks at the capital (securities) market and reduced international market.Less
As a successor to the previous chapter, which looked at organizational change in the London Stock Exchange between the two World Wars, this one looks at the changing market place over the same period. The first part of the chapter discusses competition from British provincial stock exchanges, from international arbitrage, and from North American and continental banks. The second part looks at the money market, and the last looks at the capital (securities) market and reduced international market.
Ranald C. Michie
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199242559
- eISBN:
- 9780191596643
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199242550.003.0013
- Subject:
- Economics and Finance, Economic History, Financial Economics
This chapter discusses the lead up to the ‘Big Bang’ and its effects––the Big Bang refers to the abolition of fixed commissions and the single capacity on 27 October 1986, both of which had been at ...
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This chapter discusses the lead up to the ‘Big Bang’ and its effects––the Big Bang refers to the abolition of fixed commissions and the single capacity on 27 October 1986, both of which had been at the centre of London Stock Exchange thinking for most of the twentieth century, and certainly since 1945. This move followed the abolition of exchange controls in 1979, and the associated far‐reaching changes on the securities market. The path from one to the other is traced, including the loss of the Stock Exchange's monopoly position within the securities market in January 1986. The new ways and roles that the Stock Exchange was forced to adopt during the early 1980s are described, including its merger with ISRO (International Securities Regulatory Organisation), its failure to merge with LIFFE (London International Financials Futures Exchange), expansion of securities traded on SEAQ (Stock Exchange Automated Quotations) international, and its opening of membership to global players. The last section of the chapter discusses further changes to the Stock Exchange that occurred to reflect the completely changed nature of its membership, including alterations in the degree of control and supervision exercised, and the ending of the Compensation Fund.Less
This chapter discusses the lead up to the ‘Big Bang’ and its effects––the Big Bang refers to the abolition of fixed commissions and the single capacity on 27 October 1986, both of which had been at the centre of London Stock Exchange thinking for most of the twentieth century, and certainly since 1945. This move followed the abolition of exchange controls in 1979, and the associated far‐reaching changes on the securities market. The path from one to the other is traced, including the loss of the Stock Exchange's monopoly position within the securities market in January 1986. The new ways and roles that the Stock Exchange was forced to adopt during the early 1980s are described, including its merger with ISRO (International Securities Regulatory Organisation), its failure to merge with LIFFE (London International Financials Futures Exchange), expansion of securities traded on SEAQ (Stock Exchange Automated Quotations) international, and its opening of membership to global players. The last section of the chapter discusses further changes to the Stock Exchange that occurred to reflect the completely changed nature of its membership, including alterations in the degree of control and supervision exercised, and the ending of the Compensation Fund.
E. Philip Davis
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198233312
- eISBN:
- 9780191596124
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198233310.003.0008
- Subject:
- Economics and Finance, Financial Economics
Chapters 5 and 6 identified a number of features common to most periods of financial instability in recent decades; these observations were felt to validate to some extent the various theories of ...
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Chapters 5 and 6 identified a number of features common to most periods of financial instability in recent decades; these observations were felt to validate to some extent the various theories of financial crisis that have been proposed in the literature. On the other hand, not one theory was able to explain financial instability; features of several had to be jointly present in order for a situation of financial instability to arise. This chapter explores the hypothesis that many of the factors underlying heightened systemic risk can be adequately subsumed in an industrial organization framework, with particular reference to the role of an intensification of competition among financial intermediaries following market developments that reduce entry barriers. The approach seeks both to encompass the mechanisms highlighted by existing theories of financial crisis, particularly those relating to uncertainty and imperfect information, and also to extend them by focusing on certain structural aspects that have hitherto been generally neglected by theorists, and which can be discerned in many, if not all, cases of financial instability. (In other words, it seeks to complement and not substitute for the analysis of Chs. 5 and 6.). It is suggested that the hypothesis could provide additional policy recommendations and also useful leading indicators of financial instability as well as fragility, both for regulators and for market participants themselves.Less
Chapters 5 and 6 identified a number of features common to most periods of financial instability in recent decades; these observations were felt to validate to some extent the various theories of financial crisis that have been proposed in the literature. On the other hand, not one theory was able to explain financial instability; features of several had to be jointly present in order for a situation of financial instability to arise. This chapter explores the hypothesis that many of the factors underlying heightened systemic risk can be adequately subsumed in an industrial organization framework, with particular reference to the role of an intensification of competition among financial intermediaries following market developments that reduce entry barriers. The approach seeks both to encompass the mechanisms highlighted by existing theories of financial crisis, particularly those relating to uncertainty and imperfect information, and also to extend them by focusing on certain structural aspects that have hitherto been generally neglected by theorists, and which can be discerned in many, if not all, cases of financial instability. (In other words, it seeks to complement and not substitute for the analysis of Chs. 5 and 6.). It is suggested that the hypothesis could provide additional policy recommendations and also useful leading indicators of financial instability as well as fragility, both for regulators and for market participants themselves.
