All pension systems have been affected by the financial and economic crisis, although in different ways. This paper analyses the effects of the crisis on pension systems and the resulting responses and changes, and offers a theoretical interpretation of these responses. This interpretation...

This paper describes the transmission of the recent financial crisis to Japan and compares the monetary policy reactions by the Bank of Japan (BoJ) with those during the 1990s, and with reactions by other major central banks. The paper first reviews the recent literature on the origins and...

Recent studies show that cash holdings cannot be considered a mere byproduct of corporate financial decision making but is an integral part of the explicit or implicit risk management policies of firms. This paper first gives an overview of the corporate finance literature from the past few...

This paper sheds light on the financial turmoil in the insurance sector from a Belgian supervisory perspective.3 An assessment is made of the main difficulties encountered by insurers and their supervisors during the development and acceleration of the financial crisis. Particular attention is...

While most studies analysing in great detail the origins of the current financial crisis concentrate on banks, little attention has been given to the mechanisms and role of shadow banking. In this contribution the role of money market funds, commercial paper and securitization in the growth of...

SMEs have a different bank financing structure from that of large companies and thus do not enjoy the same financing conditions. This article examines the main factors that explain the interest rates on loans to SMEs and highlights the impact of the 2008 financial crisis on credit pricing policies.

The financial crisis revealed that – due to the reliance of the Hungarian banking sector on external funding – the deterioration in the liquidity position can be a significant obstacle to lending in spite of the ample forint liquidity at the system level. The Magyar Nemzeti Bank introduced...

Purpose – The purpose of this paper is to compare ISO 9001 certified and non-certified manufacturing companies with regard to performance measures, both financial and non-financial. Design/methodology/approach – A research study was carried out in 140 Greek manufacturing companies by means...

Purpose – This paper aims to explore the culture of working life in British financial services multinationals in the period leading up to the financial crisis of 2007-2008. Design/methodology/approach – Informed by labour process theory, the paper is based on a questionnaire survey and...

Purpose – The paper aims to examine the involvement of global accountancy firms in devising and selling tax avoidance schemes euphemistically marketed as “tax planning”. Design/methodology/approach – The study draws upon a range of secondary sources, including legal cases and government...