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Constituting the cultural economy
Fran Tonkiss

two dimensions are closely linked. The culture of the firm, as well as the content of its product, can help shape the preferences of its consumers. Organisational cultures – forms of representation and self-presentation, and values, language and symbolic codes – are not simply ‘embedded’ in the routines of organisations (especially of those which have not been around long enough to have developed any durable routines), but also are qualities to be strategically cultivated, marketed and de-coded by consumers.5 In that respect new cultural sectors are exemplary of

in Market relations and the competitive process
Open Access (free)
Oonagh McDonald

Securities Act 1933 and the Securities Exchange Act 1934, and regulations of the Securities and Exchange Commission under those Acts; stock exchange listing rules (mainly the New York Stock Exchange (NYSE) and the NASDAQ); the Federal Reserve and other federal and state agencies with respect to banks and other financial institutions and the Sarbanes-Oxley Act 2002, amongst others. Because of the federal system of US law, these different sources of law are not always harmonised and corporations are often subject to different

in Lehman Brothers
Oonagh McDonald

mergers and acquisitions, investment banking and raising capital. The purchase of Neuberger Berman in 2003 was designed both to rescue Lehman from the volatility of the bond trading market and to establish its position as a leading Wall Street firm. Morgan Stanley, Merrill Lynch and Goldman Sachs already had significant money management operations, regarded as an essential element of an elite Wall Street firm. Neuberger Berman had $63.7bn under management, a respected range of funds and wealthy clients. The deal was completed at the end of 2003, giving Lehman Brothers

in Lehman Brothers
Open Access (free)
Oonagh McDonald

during the bankruptcy proceed-ings, but the cause of the delays had more to do with valuation, and other practical and legal challenges. As Lehman's Financial Statements of November 2009 note: Recoveries in respect of derivatives receivables are complicated by: Whether counterparties have validly declared termination dates in respect of derivatives and lack of clarity as to the exact times and dates when counterparties ascribed values to their derivative contracts; Abnormally wide bid-offer spreads and

in Lehman Brothers
Mark Harvey

compete with each other, but at various different scales of competition in different markets.15 The assumption of much competition regulation is that the firm is the only unit of competition, and the objective of such regulation is to institute norms of competition for firm behaviour, in specified markets. Indeed, in many instituted markets, firms can be the central and dominant units of 84 Mark Harvey competition, and there are degrees of ‘atomism’ in this respect, depending on the levels of repeat trading or formal and informal partner relations between firms

in Market relations and the competitive process
Problems of polysemy and idealism
Andrew Sayer

respect. By comparison, attempts to analyse and codify the tacit understandings involved are bound to seem lumbering and unsubtle. Nevertheless, the ideological influence of the discourse of markets in the shape of ‘neo-liberal fatalism’ is too important for the conceptual slides to be ignored. While the variety of different uses of ‘market’ and ‘markets’ is confusing, many of the uses have contexts in which they identify something significant. The problems come when authors apply them outside those contexts, particularly where explanatory weight is transferred

in Market relations and the competitive process
Don Slater

its potential social forms. The product concept includes the material and symbolic properties of the objects as it emerges from design and production processes, from the understandings of retailers, sales forces and diverse consumer constituencies and from the full Markets, materiality and the ‘new economy’ 107 range of cultural intermediaries. It includes the competitive position of the good in respect of alternative goods and practices, and the financial, cultural and social parameters of (close and remote) competitive structures. And it includes the

in Market relations and the competitive process
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

respected technocrats in the finance ministry and at the Bank of Thailand (BOT), the country’s central bank?3 As Siamwalla (1998, 9) states, “in a country in which corruption is rife, the Bank of Thailand is considered to be the only institution where it was unthinkable that any corrupt practices could be found. This reputation of incorruptibility gave it considerable moral authority and prestige and allowed it to enjoy de facto autonomy, overriding its de jure subservience to the Minister of Finance.” Moreover, the BOT had a well-earned reputation for prudent

in The Asian financial crisis
Oonagh McDonald

’ included judgement based on ‘experience, the collateral's performance with respect to the development's business plan, and other market data related to the collateral's geographic region or property type that was not always accounted for in their models’. The PTG's ‘portfolio was supposed to represent Lehman's judgement as to the price at which each position could be sold to a third party as of a particular measurement date, as required by SFAS 157’. 4 As noted earlier, the Examiner records that ‘Barsanti, whom Kenneth Cohen identified as the person

in Lehman Brothers
Open Access (free)
Oonagh McDonald

in 2004, with those who strongly agreed falling from 67 per cent to 42 per cent over the same period. Investors' decisions are driven by emotional reactions to stock market developments, including resentment of those who have invested well, and loss of respect if one's own investments have failed. His theory focuses on a bubble and the behaviours which contribute to its formation. A ‘bubble’ is defined as A situation in which news of price increases spurs investor enthusiasm which spreads by

in Lehman Brothers