Article 65 of the Securities and Exchange Law of Japan, which was carried into effect in 1948, prohibited banks from underwriting corporate securities partially because of the concern that combining ...the banking and securities businesses might result in a potential conflict of interest. This paper studies the pricing and long-term default performance of industrial bonds underwritten by commercial banks, the Industrial Bank of Japan (IBJ), and trust firms as compared to those underwritten by investment houses during the pre-war period in Japan when banks were allowed to underwrite industrial bonds. The evidence rejects the concern about the conflicts of interest.
From 1910 to 1927 workers in the Mexican cotton textile industry took
advantage of the larger surrounding revolution to create a revolution of their
own. Based on a significant and persistent ...challenge to workplace authority,
millhands radically transformed the labour regime in Mexican industry. Although
owners combated the workers' rebellion, they never inflicted a decisive defeat. As
a consequence, the conditions of work in Mexican mills improved dramatically.
Among the advancements workers fought for, and obtained, were a sharp
reduction in the working day from fourteen hours to eight, mandated medical
care for work-related accidents and illnesses and union control of hiring and
firing. The latter included the union shop and a system of tripartite boards that
made it virtually impossible to fire workers who enjoyed union support. The new
labour regime reflected changes in the formal and informal institutions of work,
but its final institutionalisation empowered unions more than the rank and file
workers who fought to change the social relations of work.
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Provider: - Institution: Cyfrowe Muzeum Narodowe w Warszawie - Data provided by Europeana Collections- All metadata published by Europeana are available free of restriction under the Creative Commons ...CC0 1.0 Universal Public Domain Dedication. However, Europeana requests that you actively acknowledge and give attribution to all metadata sources including Europeana
