Arbitraging Japan Miyazaki, Hirokazu
2013., 20121202, 2013, 2013-01-01, 20130101
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For many financial market professionals worldwide, the era of high finance is over. The times in which bankers and financiers were the primary movers and shakers of both economy and society have come ...to an abrupt halt. What has this shift meant for the future of capitalism? What has it meant for the future of the financial industry? What about the lives and careers of financial operators who were once driven by utopian visions of economic, social, and personal transformation? And what does it mean for critics of capitalism who have long predicted the end of financial institutions? Hirokazu Miyazaki answers these questions through a close examination of the careers and intellectual trajectories of a group of pioneering derivatives traders in Japan during the 1990s and 2000s.
In recent years, researchers and practitioners have increasingly paid attention to food waste, which is seen as highly unethical given its negative environmental and societal implications. Waste ...recovery is dependent on the creation of connections along the supply chain, so that actors with goods at risk of becoming waste can transfer them to those who may be able to use them as inputs or for their own consumption. Such waste recovery is, however, often hampered by what we call 'circularity holes', i.e., missing linkages between waste generators and potential receivers. A new type of actor, the digital platform organization, has recently taken on a brokerage function to bridge circularity holes, particularly in the food supply chain. Yet, extant literature has overlooked this novel type of brokerage that exploits digital technology for the transfer and recovery of discarded resources between supply chain actors. Our study investigates this actor, conceptualized as a 'circularity broker', and thus unites network research and circular supply chain research. Focusing on the food supply chain, we adopt an interpretive inductive theory-building approach to uncover how platform organizations foster the recovery of waste by bridging circularity holes. We identify and explicate six brokerage roles, i.e., connecting, informing, protecting, mobilizing, integrating and measuring, and discuss them in relation to extant literature, highlighting novelties compared to earlier studies. The final section reflects on contributions, implications, limitations and areas for further research.
We examine a controversial process, known as expungement, which allows brokers to remove evidence of financial misconduct from public records. From 2007 to 2016, we identify 6660 expungement ...requests, suggesting that brokers attempt to expunge 12% of the allegations of misconduct reported by customers and firms. When these requests are adjudicated on the merits, arbitrators approve expungement 84% of the time. We show that expungements significantly predict future misconduct; brokers with prior expungements are 3.3 times as likely to engage in new misconduct as the average broker. Further, using an instrumental variable based on the random assignment of arbitrators, we present evidence that brokers who receive expungement are more likely to reoffend than brokers who are denied expungement. We also show that successful expungements improve long-term career prospects.
Arts partnerships involving teachers, artists and arts organizations continue to be popular as a means of delivering arts education. Acting as an intermediary between schools and artists, arts ...brokers can be crucial to the successful implementation of these partnerships. Characterized as individuals who can act as channels for innovative practice, arts brokers can potentially support teachers to take risks, build capacity for reflection and develop agency as arts practitioners. This article examines the role of the Creative Associate - an arts broker within an Irish arts partnership (Creative Schools-Scoileanna ldánacha). Data was collected using semi-structured interviews in a purposive sample of eight Irish primary schools. Using a framework put forward by Sinclair et al., the support provided by the arts broker is critically analyzed. The establishment and development of stakeholder relationships is explored while emerging challenges are debated and discussed. Findings from this study indicated that the success of the arts broker is underpinned by their ability to build and nurture relationships. By 'bridging the gap' between teachers, schools and artists, this article argues that arts brokers can ensure partnerships have a sustained, meaningful impact on the enhancement of arts education in schools.
In this paper, we adopt a dynamic perspective on networks and creativity to propose that the oft-theorized creative benefits of open networks and heterogeneous content are less likely to be accrued ...over time if the network is stable. Specifically, we hypothesize that open networks and content heterogeneity will have a more positive effect on creativity when network stability is low. We base our prediction on the fact that, over time, network stability begets cognitive rigidity and social rigidity, thus limiting individuals' ability to make use of the creative advantages provided by open networks and heterogeneous content. On the contrary, new ties bring a positive "shock" that pushes individuals in the network to change the way they organize and process knowledge, as well as the way they interact and collaborate-a shock that enables creators to accrue the creative advantages provided by open network structures and heterogeneous content. We test and find support for our theory in a study on the core artists who worked on the TV series Doctor Who between 1963 and 2014.
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