First published in 1992, The Efficiency of New Issue Markets provides a theoretical discussion of the adverse selection model of the new issue market. It addresses the hypothesis that the method of distribution of new issues has an important bearing on the efficiency of these markets. In doing this, the book tests the efficiency of the Offer for Sale new issue market, which demonstrates the validity of the adverse selection model and contradicts the monopsony power hypothesis. This examines the relative efficiency of the new issue markets and in turn demonstrates the importance of distribution in determining relative efficiency. The book provides a comprehensive overview of under-pricing and through this assesses the efficiency of new issue markets.

This book, first published in 1992, examines the subject of foreign exchange market efficiency and, in particular, the effectiveness of central bank intervention in the market. This book is ideal for students of economics.

The Link between Company Environmental & Financial Performance, first published in 1998, is a detailed investigation into the effects of environmental performance – resource efficiency, regulatory compliance, new product and service opportunities – on corporate financial performance. This report makes essential reading for company management, investors and other stakeholders. It demonstrates the quantitative links between environmental and financial performance for the UK’s best and worst environmental performers across a range of business sectors. It shows that there is no financial penalty for being environmentally proactive, and confirms US findings that good environmental performance improves a company’s financial performance.

First published in 1992, this volume brings together contemporary studies and reviews the research which established the study of networks as an area in its own right. By looking at the foundations of industrial networks and analysing network methodology and modelling, this book offers an integrated and coherent approach to the whole area. Covering small group analysis, network change processes and implications for business strategy, and presenting new ways to exploit inter-organisational relationships in the face of change, it tackles key issues with important implications for the future. This book will be of interest to students of economics and business.

This book tries to integrate the different arrangements devised in the MTS for small and large NMEs into one analytical framework and explores two sets of rules (GATT/WTO-minus and GATT/WTO-plus) along three historical stages (shaping, weakening and strengthening). The focal point of this book is to uncover the composition and structure of the NME treatment in the MTS, its evolving logic and process, and the nature and trend of the political-economic relations between NMEs and the MTS.

This book investigates stakeholders’ interests, market players, and governance models for the takeover market in the changing global economic orders. Authors from the UK, Germany, the Netherlands, Australia, and China discuss takeovers in the context of China as a rising power in the global M&A market and re-examine takeover as an efficient method for corporate competition, consolidation, and restructuring. China has come to embrace takeovers as a market practice and is seeking directions for further reforms of its law, regulatory model, and banking system in order to compete with other economic powers. Yet, China is at a very different economic development stage and has different legal and political structures. State-owned enterprises dominate the Shanghai and Shenzhen stock markets – a very different landscape from UK and European exchanges. Researchers and policy makers are currently developing options in response to needs for reform. Recently, China has also announced the opening of its financial markets to foreign ownership. This book reflects on the UK and European models and focuses on the policy choices for China to transform its capital market. The book is of interest to postgraduate students and researchers (LLM, PhD, postdocs), law and management/finance academics, and policy makers.

This major new text introduces the analytical tools required to understand and interpret 21st century advanced capitalism and its evolution in the wake of the global financial crisis. Placing Comparative Political Economy in the context of key concepts and theoretical debates in the long-established field of Political Economy, it maps the terrain, substantive focus and evolution of the comparative approach. Furthermore, it connects Comparative Political Economy systematically to the subfield of International Political Economy (IPE), making the case for cross-fertilisation between these closely related fields. Re-invigorating the debate in the wake of the global financial crisis and the dramatic political interventions that followed, this text offers an entirely fresh and holistic review of comparative political economy. Ben Clift, a leading figure in the field, rethinks the supposed boundaries between comparative and international political economy, highlighting the how disciplines complement each other in an era where economic activity is increasingly shaped by political and social influence. Upper-level undergraduates and postgraduates studying Comparative Political Economy or a subject related to Political Economy will find this book essential. As the topics and disciplinary themes covered by this text are broad, students of more general Politics or International Relations courses will also be well served by this text.