Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'

Crotty, James

doi:10.1093/cje/bep023

Cited by 713 publications

(466 citation statements)

References 17 publications

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“…Several commentators have referred to the influence of individual faith as part of their studies of the structural flaws that caused the financial crisis of the late 2000s 5 (e.g., Cooper 2015;Crotty 2009). The premises of an argument about how faith relates to events of the corporate world, and drives the activities of financial institutions and business in general, started to emerge.…”

Section: Corporate Sustainability and Faith: Identifying The Emergingmentioning

confidence: 99%

On the Role of Faith in Sustainability Management: A Conceptual Model and Research Agenda

Martinez

2017

J Bus Ethics

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The objective of this article is to develop a faith development perspective on corporate sustainability. A firm's management of sustainability is arguably determined by the way decision-makers relate to the other and the natural environment, and this relationship is fundamentally shaped by faith. This study advances theoretical understanding of the approach managers take on sustainability issues by explaining how four distinct phases of faith development-improvidence, obedience, irreverence and providence-determine a manager's disposition towards sustainability. Combining insights from intentional and relational faith development theories, the analysis reveals that a manager's faith disposition can be measured according to four interrelated process criteria: (1) connectivity as a measure of a manager's actual engagement and activities aimed at relating to sustainability; (2) inclusivity as a measure of who and what is included or excluded in a manager's moral consideration; (3) emotional affinity as a measure of a manager's sensitivity and affection towards the well-being of others and ecological welfare; and (4) reciprocity as a measure of the degree to which a manager is rewarded for responding to the needs and concerns of 'Others', mainly in the form of a positive emotional (and relational) stimulus. The conceptual model consolidates earlier scholarly works on the psychological drivers of sustainability management by illuminating our search for a process of faith development that connects with an increasingly complex understanding of the role of business in society.

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Section: Corporate Sustainability and Faith: Identifying The Emergingmentioning

confidence: 99%

On the Role of Faith in Sustainability Management: A Conceptual Model and Research Agenda

Martinez

2017

J Bus Ethics

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“…Collateralised debt obligations (CDOs) and credit default swaps were set up in order to reduce and even apparently remove any risk (through some magical form of financial 'origami' that few pretended to understand but which somehow converted junk-grade mortgages into 'triple A'-rated CDOs to sell on to others 51 ). However, the former were quickly exploited by avaricious mortgage brokers on performancerelated pay, while the latter rapidly spiralled out of control into a trillion dollar form of casino banking, in which the players, not surprisingly, became addicted to gambling with other people's money encouraged by enormous bonuses reflecting their winnings but unfortunately not their losses (Crotty, 2009). …”

Section: Identifying the Causes Of The Current Economic Crisismentioning

confidence: 99%

Twenty Challenges for Innovation Studies

Martin

2015

SSRN Journal

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With the field of innovation studies now half a century old, the occasion has been marked by several studies looking back to identify the main advances made over its lifetime. Starting from a list of 20 advances over the field's history, this discussion paper sets out 20 challenges for coming decades. At a conference in 1900, David Hilbert put forward a list of 23 unsolved mathematical problems that were to have a profound influence on the work of mathematicians during the 20 th Century. The intention here is to prompt a debate within the innovation studies community on what are, or should be, the key challenges for us to take up, and more generally on what sort of field we aspire to be. It is argued that the empirical focus of our studies has not kept pace with the fast changing world and economy, especially the shift from manufacturing to services and the growing need for sustainability. Moreover, the very way we conceptualise, define, operationalise and analyse 'innovation' seems rooted in the past, leaving us less able to grapple with other less visible or 'dark' forms of innovation.Keywords: innovation studies; science policy; challenges; achievements; dark innovation Acknowledgements A preliminary version of this paper was presented at the Lundvall symposium held at Aalborg University in February 2012. A short version (based on 15 challenges rather than 20) is being published, along with other contributions to that event, in a book on The Future of Innovation Studies (Fagerberg et al., 2013).

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“…calculability, resolution, etc.) or even ideological constraints, as was the case with the application of flawed financial models leading to the financial crisis of 2008 and beyond (see, for example, Best, 2010;Crotty, 2009;Haldane and May, 2011;McDowell, 2011). Some recent social analyses go further than this, contesting any teleologically purposeful system, basing their arguments for social emergence in complexity, nonlinearity and volatile systems immanence.…”

Section: Systems Models Storiesmentioning

confidence: 99%

Social science perspectives on natural hazards risk and uncertainty

Jackson¹

2013

Risk and Uncertainty Assessment for Natural Hazards

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Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'

Cited by 713 publications

References 17 publications

On the Role of Faith in Sustainability Management: A Conceptual Model and Research Agenda

On the Role of Faith in Sustainability Management: A Conceptual Model and Research Agenda

Twenty Challenges for Innovation Studies

Social science perspectives on natural hazards risk and uncertainty

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