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Joy Van Eck Peluchette and Katherine Karl

Using Goffman’s dramaturgical perspective, this chapter discusses how women utilize dress to present themselves in the workplace and how their dress impacts upon self-perceptions, others’ perceptions and, ultimately, their ability to effectively execute their organizational roles. In determining appropriate workplace attire, women are often caught in a double bind in that they may wish to dress with a certain level of femininity in order to be consistent with gender norm expectations, but at the same time, to dress masculine enough to appear credible. This chapter outlines research on the effects of feminine or provocative dress on perceptions and outcomes for women in the workplace. Since dress is defined as including both body adornments and modifications, the authors discuss what is known from research on aspects of clothing and accessories, as well as cosmetics, fragrance and hair color. They conclude the chapter with a discussion of unaddressed issues in workplace dress research.

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Anna P. Donovan

In 2008 Satoshi Nakamoto released a White Paper introducing the cryptocurrency ‘bitcoin’ to the public. Intended to revolutionise the payments process, bitcoin is a peer-to-peer (and therefore distributed) ‘electronic cash system’ that facilitates relatively fast online payments with low transaction costs and ‘without going through a financial institution’. As a currency, it is perhaps not surprising that bitcoin has been met with both scepticism from the public and resistance from traditional financial institutions. In contrast, as a platform, the distributed ledger technology (DLT) that underpins bitcoin (known as the blockchain) is now witnessing mainstream adoption by major financial institutions. This transition comes as banks and other financial institutions are recognising the blockchain’s significant potential to ‘radically transform’ the financial services industry, resulting in what some are calling the ‘fourth industrial revolution’. As a consequence, it is becoming increasingly clear that DLTs have the potential to similarly disrupt the shadow banking sector as they enable innovative business models to be adopted by both banks (acting outside of the traditional regulated realm) and non-bank institutions (to conduct financial services activities).

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Christian Hofmann

For a better understanding of the shadow banking issue in Singapore and its financial landscape in general, we must start with the role of the banks. Banks are the key financial institutions and are placed at the top of the financial sector hierarchy in Singapore. Their prominent role results from two factors. First, banks are the most strictly regulated financial institutions, and Singapore complies with (and selectively surpasses) the latest Basel standards. These strict regulatory requirements for banks result in the benefit that a banking licence replaces the need for other financial licences. For example, s 99(1) of the Securities and Futures Act (SFA) provides that banks licensed under the Banking Act do not need a capital markets services licence. Once licensed as banks, these institutions are permitted to engage in the full range of financial services including the typical activities of deposit-taking, lending and payment services that generally define a bank. Also, banks are permitted to manage their customers’ wealth, offer typical investment activities and insurance brokerage.

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Edmond J. Curtin and Joseph Tanega

In this chapter, we consider the substance of the legal relationship between a dealer and its client when transacting in derivatives, taking into account both the contractual relationship between the parties and the regulatory relationship arising under the Markets in Financial Instruments Directive (MiFID). We refer to these respective relationships as the contractual model and the regulatory model. The contractual model is derived from a privately negotiated legal framework premised on the idea that the parties are allocating risk inter se and doing so as principals and at arm’s length. Under the contractual model, the parties retain the freedom to allocate risk inter se based on a careful circumscription of respective rights, duties, privileges, powers and immunities. The regulatory model is derived from a legal framework premised on the idea that the dealer is providing the client with a service. Under the regulatory model, where a client interest may be implicated by a decision of the dealer, the dealer should take into account that client interest. These respective models and their combination are discussed further below. The chapter is not a critique of the regulatory model as such. Rather, it is a meditation on the substance of the derivatives contract as the quintessential shadow banking instrument. This quintessence is the acceptance of the investment risk associated with one’s bargain. This chapter is in five parts. The first is a circumscription of the phenomenon of derivatives and its place in shadow banking. The second is a description of the MiFID legal framework and the place of derivatives within that legal framework. The third is a description of the contractual model. The fourth is a description of the regulatory model. The fifth is a reconciliation of the regulatory model with the contractual model. ‘a transaction under which the future obligations of one or more of the parties are linked in some specified way to another asset or index, whether involving the delivery of the asset or the payment of an amount calculated by reference to its value or the value of the index. The transaction is therefore treated as having a value which is separate (although derived) from the values of the underlying asset or index. As a result, the parties’ rights and obligations under the transaction can be treated as if they constituted a separate asset and are typically traded accordingly.’2 We suggest that four further ideas may assist one in understanding derivatives. These are as follows.

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Mustafa Bilgehan Ozturk and Ahu Tatli

Lesbian, gay, bisexual, transgender, queer or questioning and intersex (LGBTQI) employees make up a significant constituency within the workforce. Yet, career concerns and challenges pertaining to diversity on the basis of sexuality and gender identity have traditionally been neglected in the wider career development literature. This chapter explores both the constraints faced by sexuality and gender identity minority employees in planning and developing their careers, and also the possible remedial actions which are uniquely tailored to LGBTQI workers in order to ensure that organizations are sufficiently equipped to respond to the pressing needs of their diverse workforce. Therefore, the goal of the authors is to elucidate the current career challenges and possible pathways of improvement for the LGBTQI workers. They first provide an overview of the existing research, theories and concepts that shed light on the career outcomes of LGBTQI employees; then they identify and discuss recommendations for policy and practice.

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Edited by Sandra Seubert, Marcel Hoogenboom, Trudie Knijn, Sybe de Vries and Frans van Waarden

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Redson Edward Kapindu

National Human Rights Institutions (NHRIs) play an important role in ensuring that Governments are held to account in respect of their human rights obligations. These NHRIs are variously established. Some are established under the Constitution, others are established through ordinary legislation, whilst others are established by executive decrees. This chapter first explores whether NHRIs may always fit into the tripartite separation of powers model of the executive, the legislature and the judiciary (the trias politica). It argues that they may not always fit well into this model and that there are instances where NHRIs should simply be treated as organs of the state sui generis, falling outside this tripartite model. The chapter then examines the specific instance of the Malawi Human Rights Commission (MHRC), and concludes that the MHRC is one of those NHRIs that do not sit well within the trias politica. The chapter winds up by examining how the MHRC has sought to ensure checks and balances with the other organs of the state, especially the executive, through participation in litigation; and also the contribution that the MHRC has made in developing human rights and constitutional law jurisprudence.

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Michael Leatherbee and Juanita Gonzalez-Uribe

This chapter by Michael Leatherbee and Juanita Gonzalez-Uribe addresses issues relating to the selection of entrepreneurs and their ventures for entry into accelerators. Commonly, accelerators select start-ups among a broader group of applicants. The assumption is that through the selection process, accelerators are able to discriminate between high- and low-potential start-ups. Thus, the expectation is that accelerators are an effective medium for capturing the upside potential of the select few start-ups that promise to deliver the highest value in the future. That upside potential may be materialized through attractive equity investments or increased socio-economic development, depending on the mission of the accelerator. Typically, the selection process relies on a set of objective criteria predetermined by the accelerator, which are applied by one or more entrepreneurship experts who act as judges or evaluators of the applicant pool. First the authors describe the different selection stages and methods typically managed by business accelerators. They then go on to explore the multiple important issues that must be taken into account when designing and managing selection processes. Comprehending these issues may help to understand the challenges and limitations of current selection methods, and to avoid potential pitfalls and unintended consequences.

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Pierre de Gioia Carabellese

Securitizations affect the way a credit institution operates. Alongside structured finance, they allow a bank to free capital and transform risk management. Securitizations allow lenders to refinance a set of loans or assets via their conversion into securities. As the lender organizes a portfolio of its loans in different categories of risk also according to the risk appetite of each investor, the cash flows of the underlying loans represent the returns to the investors. However, structured finance transactions have been identified among the main culprits for the 2008 financial crisis. As such, these transactions may pose a considerable threat to the stability of financial markets. Thus, securitizations, the stereotypical transactions of this kind, have challenged the supervisory authorities, given the dearth of regulation in this area until a decennium ago. Nevertheless, securitization markets are still believed to provide operators with unique opportunities to raise finance through alternative funding and diversified funding sources.

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Robert Kolb

The maintenance of peace under the Charter system is based on two main elements – a preventive element, provided for in Chapter VI on the peaceful resolution of disputes and Chapter X on economic and social cooperation, and a repressive element based on Chapter VII, which provides for the Security Council’s powers of enforcement. The two elements are respectively rooted in the notions of ‘positive’ and ‘negative’ peace. This chapter looks in detail at these two perspectives while examining the scheme and structure of the UN Charter.