This article addresses the fiduciary issues raised by the current practice of plan fiduciaries of not only disclaiming any fiduciary responsibility for brokerage window investments, but also abdicating any role (fiduciary or otherwise) in assessing even the general suitability of those investments for a retirement plan, and concludes that the practice is in plain and notorious violation of what ERISA requires of fiduciaries.

Members of licensed occupations benefit from legal standards that limit entry into their professions. Is it ethical for these professionals to give political support to these standards? I examined the case of real estate brokers and found that their educational requirements raise average commissions by one quarter of a percentage point, costing consumers $5.4 billion per year without improving the quality of brokerage services. The case raises interesting ethical issues which are difficult to resolve.

Normal science involves persistent collective application of an agreed research agenda. Anomaly can threaten normal science, but so too can “undue persistence” in that agenda by a normal science peer group. We consider how “undue persistence” might be a collective effect of the common incentive structure that individual members of the peer group typically face in relation to their careers. To understand how “undue persistence” might be ameliorated, we consider the affordances of a peer’s membership of a departmental collegium, organized (...) on a different basis than the specialist peer group and hence able to supply the individual scholar with kinds of information and critical comment that may occasion off-agenda contributions to the specialty. The idea of brokerage is borrowed from the sociology of innovation to see how a scholar’s departmental colleagues might be able to broker new ways of thinking that can assist in the avoidance of “undue persistence”. (shrink)

This study examines whether reputable analysts and brokerage houses as thinker-driven middlemen led corporations to engage in CSR by investigating the causal relation between CSR and analysts and brokerage houses’ reputations. While theory of information asymmetry predicts that corporations with higher level of CSR tend to attract more reputable analysts and brokerage houses such that they can disseminate valuable information to outside investors, the social pressure theory expects corporations, which receive coverage from more reputable analysts and (...) class='Hi'>brokerage houses, tend to have higher CSR. Our findings suggest that CSR activities per se do not attract experienced analysts and reputable brokerage houses. Instead, we find that corporations which are covered by more experienced analysts and reputable brokerage houses tend to increase their CSR activities, indirectly supporting the social pressure hypothesis based on thinker-led-doer model. In addition, we find that corporations tend to have higher CSR strengths, lower CSR concerns, and increased CSR components of diversity and product when they are covered by more reputable analysts and brokerage houses. We interpret these findings are supportive of the social pressure hypothesis, rather than the information asymmetry hypothesis. (shrink)

This study examines the effects of leader emotional intelligence, leadership styles, organizational commitment, and trust on job performance. A questionnaire was administered to the participants, who were real estate brokers in Kaohsiung City. Of the 980 questionnaires administered, 348 valid responses were received, indicating an effective response rate of 35.5%. Structural equation modeling was used for the analysis. The results show that leader emotional intelligence has a significant and positive effect on trust in supervisors, and transformational leadership and trust within (...) a team have significant and positive effects on job performance. In addition, organizational commitment has a significant and positive effect on job performance. Trust within a team mediates the significant and positive effect of leader emotional intelligence on job performance. Although transactional leadership has no direct, positive, and significant effects on employee job performance, trust in the workplace shaped by a leader’s leadership style will empower a team’s spirit and boost their morale, thereby indirectly affecting their job performance in a positive manner. (shrink)

In this article, I examine politics and protest during the post-authoritarian Indonesian regime by analysing the song ‘Puritan ’ by Homicide., drawing from my fieldwork...

Cross-sector development partnerships are project-based collaborative arrangements between business, government, and civil society organizations in support of international development goals such as sustainability, health education, and economic development. Focusing on public private partnerships in development cooperation, we examine different constellations of bridging agents and their effects in the formation of single CSDP projects and longer-term alliances. We conceptualize bridging agency as a collective process involving both internal partner representatives and external intermediaries in initiating and/or supporting roles. We find that the (...) involvement of external intermediaries eases the formation of single projects and longer-term alliances. However, when projects are initiated by external intermediaries they tend to be repetitive and narrow in scope, whereas projects initiated by internal partner representatives often explore novel agendas and embody a greater potential for social innovation. Yet, the longer-term pursuit of these agendas beyond single projects may require external intermediaries in supporting roles. Findings help better understand micro-processes and collective practices of brokerage and alliance formation in transnational governance contexts and beyond. (shrink)

In domains like stock brokerage, clinical psychiatry, and long‐term political forecasting, experts generally fail to outperform novices. Empirical researchers agree on why this is: experts must receive direct or environmental learning feedback during training to develop reliable expertise, and these domains are deficient in this type of feedback. A growing number of philosophers resource this consensus view to argue that, given the absence of direct or environmental philosophical feedback, we should not give the philosophical intuitions or theories of expert (...) philosophers greater credence than those of novice philosophers. This article has three objectives. The first is to explore several overlooked issues concerning the strategy of generalizing from empirical studies of non‐philosophical expertise to the epistemic status of philosophical expertise. The second is to explain why empirical research into a causal relationship between direct learning feedback and enhanced expert performance does not provide good grounds for abandoning a default optimism about the epistemic superiority of expert philosophical theories. The third is to sketch a positive characterization of learning feedback that addresses developmental concerns made salient by the empirical literature on expert performance for specifically theory‐driven or “armchair” domains like philosophy. (shrink)

The commentary raises political questions about the ways in which data has been constituted as an object vested with certain powers, influence, and rationalities. We place the emergence and transformation of professional practices such as ‘data science’, ‘data journalism’, ‘data brokerage’, ‘data mining’, ‘data storage’, and ‘data analysis’ as part of the reconfiguration of a series of fields of power and knowledge in the public and private accumulation of data. Data politics asks questions about the ways in which data (...) has become such an object of power and explores how to critically intervene in its deployment as an object of knowledge. It is concerned with the conditions of possibility of data that involve things, language, and people that together create new worlds. We define ‘data politics’ as both the articulation of political questions about these worlds and the ways in which they provoke subjects to govern themselves and others by making rights claims. We contend that without understanding these conditions of possibility – of worlds, subjects and rights – it would be difficult to intervene in or shape data politics if by that it is meant the transformation of data subjects into data citizens. (shrink)

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. (shrink)

We bring together recent discussions on data capitalism and biocapitalization by studying value flows in consumer genomics firms—an industry at the intersection between health care and technology realms. Consumer genomics companies market genomic testing services to consumers as a source of fun, altruism, belonging and knowledge. But by maintaining a multisided or platform business model, these firms also engage in digital capitalism, creating financial profit from data brokerage. This is a precarious balance to strike: If these companies’ business models (...) consist of assetizing the pool of genomic data that they assemble, then part of their work has to revolve around obscuring to consumers any uncertainties that would potentially impinge on these processes of assemblage. We reflect on the nature of these practices and the market relationships that enable them, and we relate this reflection to debates around alternative market arrangements that would potentially mitigate the extractive tendencies of these and other digital health firms. (shrink)

When do organizations decide to ‘adopt’ a given social issue such that they come to acknowledge it in their patterns of action and communication? Traditional answers to this question have focused either on the characteristics of the issue itself, or on the traits of the focal organization. In many cases, however, a firm’s decision to adopt or ignore an issue is not a straightforward function of firm or issue characteristics. Instead, we view issue adoption as a socially constructed process of (...) information exchange between parties that are involved in the emergence and evolution of the issue, mediated by third-party organizations. We refer to this process as the infomediary process and these latter organizations as ‘infomediaries,’ after the information mediation and brokerage roles they play in the social processes linking social issues to organizational impact. We present a concise theoretical model of how infomediaries establish credible linkages between focal organizations and social issues. The thrust of the model is that the infomediation process, rather than the issue or firm characteristics, is what really drives firm-level issue adoption decisions. (shrink)

This paper calls for a paradigm shift in studying academic dependency, towards the paradigm of brokered dependency. Using Chinese academia as an example, I demonstrate how the neocolonial condition of academic dependency is always mediated through blockage-brokerage mechanisms. The two most salient blockage-brokerage mechanisms of dependency in the Chinese context are linguistic barrier and authoritarian malepistemization, and the effects of the latter consist of three layers: institutional, informational and incorporational. On top of their domestic impacts, those mechanisms jointly (...) exacerbate spectacularized postcoloniality in anglophone-hegemonic global academic publishing. The paradigm of brokered dependency not only represents a more nuanced approach to the study of academic dependency, but also underscores the fact that the dismantling of the neocolonial condition cannot be conceived and pursued in isolation from comprehending and confronting the authoritarian condition, especially when the latter pertains under the disguise of anticolonialism. (shrink)

This paper examines ethical issues involved in the mass marketing of securities to individuals. The marketing of products deemed “socially questionable” or “sinful” (like tobacco and alcohol) has long been recognized as posing special ethical challenges (Kotler, P. and S. Levy: 1971, Harvard Business Review 49, 74–80; Davidson, D. K: 1996, Selling Sin: The Marketing of Socially Unacceptable Products (Quorum Press, Westport). We contend that marketers should consider securities (i.e. common stock, options) in a similar vein, as a potentially dangerous (...) product. Given the inherent volatility of equity prices, responsible marketers need to exercise caution and restraint in promoting securities. We evaluate whether the NYSE’s current guidelines adequately encourage ethical marketing practices and deter unethical ones. Using recent examples of controversial brokerage advertisements, we expose weaknesses in the Exchange’s vague injunction that members not “mislead” reasonable people by making “exaggerated claims” in their communications. From a moral perspective, we find it troublesome that intentionality need not be present for a promotion to be considered misleading. Also problematic is the continued invocation of the reasonable person standard to judge the propriety of advertisements. We close with some thoughts on improving the quality of securities marketing. We suggest that the NYSE, in the interests of fostering higher ethical behavior among member marketers, may need to revive a marketing code of conduct prevalent on Wall Street in an earlier era. (shrink)

Our society has long sanctioned, at least tacitly, a degree of conflict of interest in medical practice and clinical research as an unavoidable consequence of the different interests of the physician or clinical investigator, the patient or clinical research subject, third party payers or research sponsors, the government, and society as a whole, to name a few. In the past, resolution of these conflicts has been left to the conscience of the individual physician or clinical investigator and to professional organizations. (...) The public is no longer willing to allow health care providers to wholly govern their own conflicts of interest for several reasons. These include: new forms of health care financing and delivery that provide innovative and lucrative opportunities for physician or insurer enrichment at patient expense; the increased importance of commercial research support as peer-reviewed governmental research support has decreased; evidence that physicians and clinical investigators too frequently resolve conflicts of interest in their own favor; and a general societal mistrust of authority. This volume represents a multidisciplinary effort, drawing from philosophy, medicine, law, economics and public policy to identify and categorize conflicts of interest in medical practice and clinical research, and, where possible, to offer a mechanism for resolving them. Part I addresses conflicts of interest from a theoretical perspective, offering basic concepts and analytical frameworks. The second part discusses two topics prominent in current health care policy debates--self-referral and financial incentives to limit care. Part III examines conflicts of interest generated by pharmaceutical industry involvement in clinical practice and research. The final section deals with conflicts of interest in clinical research in several contexts, including institutional reviews boards, clinical trials, Cooperative Research and Development Agreements between government and private researchers, brokerage of research subjects by Contract Research Organizations, and cost-effectiveness studies. (shrink)

Reflections on my experience of conducting research in Botswana are used to highlight tensions and conflicts that arise from adhering to the western conceptualization of bioethics and the need to be culturally sensitive when carrying out research in one's own culture. Cultural practices required the need to exercise discretionary judgement guided by respect for the culture and decision-making protocols of the research participants. Ethical challenges that arose are discussed. The brokerage role of nurse educators and leaders in contextualizing western (...) bioethics is emphasized. (shrink)

An ethical issue that has largely been overlooked and neglected is the potential conflict of interests faced by medical professionals in the recruitment, counselling and reimbursement of egg donors. It must be noted that fertility treatment in private practice is an overwhelmingly profit-driven enterprise. To attract more patients and generate more income, there is a strong incentive for fertility clinics and doctors to actively and aggressively recruit women for their egg donation programme. In some countries where substantial financial remuneration for (...) egg donation is permitted—for example, the United States,1 2 fertility doctors and clinical embryologists often act as the “middleman” or broker to facilitate the transaction of eggs between donor and recipient. Very often, the usual practice is for fertility clinics to charge patients a commission for sourcing egg donors, which is an additional profit on top of substantial medical fees that would be earned from provision of fertility treatment to the same patient. This is ethically contentious; because the money earned is not directly related to medical services rendered to the patient, but is instead attributed to the brokerage and transaction of donated human material.There is a risk that the welfare of the …. (shrink)

Consumer-based datasets are the products of data brokerage firms that agglomerate millions of personal records on the adult US population. This big data commodity is purchased by both companies and individual clients for purposes such as marketing, risk prevention, and identity searches. The sheer magnitude and population coverage of available consumer-based datasets and the opacity of the business practices that create these datasets pose emergent ethical challenges within the computational social sciences that have begun to incorporate consumer-based datasets into (...) empirical research. To directly engage with the core ethical debates around the use of consumer-based datasets within social science research, I first consider two case study applications of consumer-based dataset-based scholarship. I then focus on three primary ethical dilemmas within consumer-based datasets regarding human subject research, participant privacy, and informed consent in conversation with the principles of the seminal Belmont Report. (shrink)

ABSTRACTThis work explores financial edgework by professional speculative traders as an explanation for the persistence of rogue trading in financial markets. The article joins in the scholarly application of “edgework,” the social psychological study of voluntary risk, to speculative trading. The discussion focuses on the origins and persistence of that subset of behavior wherein the trader knowingly creates the condition in which he or she endangers the brokerage house that employs them and even, at times, threatens the public's perception (...) of the integrity of the securities industry. Going over the edge between risk taking and unauthorized rogue trading is explained by looking at five inducements to escalate risk taking provided in the securities industry. This examination of financial edgework demonstrates how and, to a lesser degree, why rogue trading is a result of the security industry's pursuit of and desire to capitalize upon yet not publicize an occupational culture stressing a “risk‐and‐win” ethos. (shrink)

A student considering a career as a financial advisor is confronted by a common industry practice that some consider misleading and unethical. The case fosters financial literacy by allowing students to connect theory to practice through the analysis of a highly realistic brokerage statement using Microsoft Excel. It permits an instructor to seamlessly inject an ethical component into an accounting or finance course while simultaneously sharpening students' understanding of key financial concepts such as bond valuation and yield to maturity.

In lieu of an abstract, here is a brief excerpt of the content:Our Living SocietyJames CampbellIWhen I was working on my history of the early years of the American Philosophical Association (A Thoughtful Profession), I spent a great deal of time immersed in the unhappy genre of the presidential address. Three divisions, each with its own annual president, make for a lot of presidential addresses. One of the things that I learned from this effort was that these addresses can be (...) sorted quite easily into two types. The first reflects some philosophical interest of the individual president; the second considers the ongoing life of the association. My presidential address will be of the latter sort.I thought that I would speak with you today about the Society for the Advancement of American Philosophy (SAAP) as a living society. To do so means, of course, that I will be speaking about us. "We" are the members of SAAP—or better, we are SAAP. I will address my remarks primarily to the younger members of the audience: to those who cannot recall a time before SAAP existed. As our Society moves forward, and as the members of the founding generation inevitably pass on, there has been a natural change of focus. Our Society was established nearly forty years ago, at a time when the founders felt great alienation from the American Philosophical Association. The issues that brought them together in the early-1970s, however, are not the issues that we are facing at present. Our issues—your issues as the future of the Society—have fundamentally changed. It is no longer possible, if it ever really was, to define ourselves simply as "not them." We need to articulate, better than we have, not so much who we are as who we desire to become. While our pluralistic ways may no longer stick out in the broader philosophical profession, as Walt Whitman would in a Wall Street brokerage house, we [End Page 128] continue to feel isolation from much of what goes on in the profession. In many ways, SAAP's initial phase has been a tremendous success; but where does SAAP, where do we, go from here?III thought that I might also speak a bit about myself, not because my story is so special, but because it is a small piece of our collective past. Others of you may remember these times differently and may have taken away different lessons. If you will allow me, I will begin my story after I left the Army in 1969 and enrolled at Temple University in Philadelphia, where I had grown up. I was at that time a bit older, and more serious, than most of my fellow students. I enrolled as a philosophy major because, after a number of years entrapped within the military system of blind obedience to unquestioned authority, I wanted to find better justifications for my own, and for society's, practices. Philosophy appealed to me as the place where I might find the answers to my life questions.Unfortunately, philosophy in those days—at Temple and at most other American universities—was not the sort of field in which students found many answers to the questions that puzzled me. We learned a great deal about duck-rabbits and the uncertain location of someone named Brown; we wondered whether a person might know how to sex chickens, and how he or she might know; we explored the apparent menace of female impersonators' conventions for the inherited notion of truth. Overall, philosophy seemed to be a branch of epistemology, rather than vice versa. After several years of this sort of philosophical study, I managed to become very clever. I had a counter-example for any statement more daring than "hello," and I thought that I knew a great deal because I had learned how to avoid all consideration of context or history.Still, through my cleverness, I realized that something was not right. I was not developing answers for my puzzlements about life or the improvement of society. Since I was not doing what I wanted to do in philosophy, the fact that I was doing it quite well mattered little. As I look back now through the eyes... (shrink)

This chapter contains sections titled: Devices and Distribution in Actor Network Theory Little ‘Demos’:Technology and Organizational Identity Devices and Change: Tinkering, Cartesian Fixes, Brokerage Conclusions Note References.

Risk and crisis communication (RCC) is a complex constellation of multiple actors, platforms, and voices. It involves institutional actors but also laypeople. Participation by social media users can both facilitate and obstruct effective RCC. The present study draws on in-depth interviews with Swedish Facebook users, and explores motivational factors for lay participation in RCC in the context of vaccination utilizing Peter Dahlgren’s (2011) model. The contributions of this study are threefold. First, it identifies three dominant clusters of participation motivations: personal (...) interest, information brokerage, and persuasion. Second, the results show that Facebook sociality is characterized by asynchronous communication, loops, and widespread hostility. Third, degrees of content visibility set up “zones of peace” (backstage, safe communication spaces) and “zones of fight” (frontstage, open sub-arenas where various views on vaccination are debated). Moreover, the study finds that these forms of sociality and levels of visibility can both strengthen and undermine user motivations. (shrink)

Many scholars have investigated the relationship between protest and repression. Less often examined is the legislative suppression of protest by elites seeking to make protest more costly to protesters. Because state legislatures are largely invisible to the public, this “wholesale” suppression of protest is less likely to trigger public opposition than repression by the police. This study explains the sharp increase in the number and the severity of state legislative bills to repress the right to protest both before and after (...) the election of Donald Trump. In particular, it examines whether these can be attributed either to Republican control of state legislatures or to protest threat. Contrary to the findings in much of the literature, bills aimed at suppressing protest are less closely related to threat than to the realignment of state politics. The article also finds that these proposals were influenced by diffusion through policy brokerage. (shrink)

Due to investments in interdisciplinary research endeavors, the number and variety of interdisciplinary research centers have grown exponentially during the past decades. While interdisciplinary research centers rely on varied organizational arrangements, we know little about the conditions and processes that mediate collaborative arrangements and interdisciplinary research outcomes. This study examines how different collaborative arrangements shape scholars’ experiences of interdisciplinary research and understandings of interdisciplinary knowledge culminations in the context of university-based research centers. We conducted three in-depth qualitative case studies on (...) different centers, which recruited researchers from natural sciences, medicine, and social sciences. We refer to them as the Biotech Center, the Environmental Center, and the Premature Birth Center. Our analysis of 53 interviews with interdisciplinary scholars across the three centers demonstrates that the scholars perceive particular features of the centers’ collaborative arrangements as meaningful for interdisciplinary collaboration. Specifically, the center’s mission, physical architecture, and leadership and task structure were seen as affecting scholars’ motivation, interaction, and inclusion in the centers, which then shaped the interdisciplinary knowledge culminations. At the Biotech Center, knowledge was translated towards concrete products, at the Environmental Center knowledge was pooled together from varied fields to create new problem framings, and at the Premature Birth Center, interdisciplinary collaboration was crafted through top-down knowledge brokerage. (shrink)

The aim of this study is to explore the influence of religious beliefs on social or work-related ties of managers who are member of organizational networks representing two different ideologies in Turkey. In this research, the emergence of secular and devout entrepreneurs is considered as a phenomenon, and special attention is paid to religious transformation and secularism in Turkey. Social network analysis method is used to define the nature of communication links among 80 chairmen who are the members of two (...) conflicting and dominant groups in Turkish business system. The findings show that Protestant work ethic suggested by Weber with regard to Christianity have attained a similar place over the past decade in Islamic organizational networks. The concern of political power in religion leads to organizational networks being nourished by religious norms and creeds in many developing countries. Especially in societies like Turkey where the state is dominant in the business life, organizations and managers prefer to be included in religious networks to make close contacts with the state. Another significant finding is that efforts of the members of religious networks—in spite of their relatively closed characteristics—in terms of being at the center of a network and taking the brokerage role, are highly developed on the contrary to the literature. (shrink)

This article analyzes organizational mechanisms, and their contexts, leading to gender inequality among stockbrokers in two large brokerages. Inequality is the result of gender differences in sales, as both firms use performance-based pay, paying entirely by commissions. This article develops and tests whether performance-support bias, whereby women receive inferior sales support and sales assignments, causes the commissions gap. Newly available data on the brokerages’ internal transfers of accounts among brokers allows measurement of performance-support bias. Gender differences in the quality and (...) quantity of transferred accounts provide a way to measure gender differences in the assignment of sales opportunities and support. Sales generated from internally transferred accounts, controlling for the accounts’ sales histories, provide a “natural experiment” testing for gender differences in sales capacities. The evidence for performance-support bias is women are assigned inferior accounts and women produce sales equivalent to men when given accounts with equivalent prior sales histories. (shrink)

Futures contracts in agricultural commodities are an agreement to buy or sell a predetermined amount of agricultural commodities (such as wheat, corn, cotton, soybeans, live pork, live cattle, cocoa, etc.) at a specific price depending on the price on a specific date in the future. Futures contracts in agricultural commodities are carried out under “commodity futures contracts” on the futures exchange. These contracts are executed in two ways in terms of the delivery of the contract subject; physical delivery and cash (...) settlement. In the physical delivery, the underlying asset is physically received at the end of maturity. In our country, physical delivery method is used in futures contracts made on commodities. In the second contract method that results in cash settlement, there is no physical delivery of the underlying asset at the end of maturity. The transaction takes place over the settlement price at the end of maturity. Futures contracts in agricultural commodities can be analyzed in two categories in terms of Islamic law. First, within the scope of sales where both the goods and the price are on credit; the second is a combined contract that includes a promise to sell and a contract of sale when due. It is more convenient to analyze in the former because the agricultural commodities in the warehouse are kept ready to be delivered when due and the commodities price is also delivered on time. In this category, it resembles the sale of a credit on credit, which is prohibited in Islamic law. We can see that there are five parties within the exchange organization regarding the futures contracts in agricultural commodities; futures and options exchange, clearing house, brokerage houses, market participants, supervisory institutions. When the transactions of the related parties are examined in terms of legal capacity and power of representation; it is observed that brokerage houses transacting on behalf of sellers and customers operate by proxy. On the other hand, the Exchange, the Clearinghouse (Takasbank) and the custody warehouse within the scope of the exchange system; carries out transactions on behalf of the parties both as a proxy and a guarantor. Therefore, this futures transaction has the nature of containing more than one contract. When analyzed in terms of the establishment of the contract; if there are agricultural commodities that are considered as legitimate property of the Islamic law (mütekavvim), there is no objection regarding the parties and the offer-acceptance. In addition the delivery time of the commodity subject to the contract must be equal to the amount sold and the amount in the warehouse, which is guaranteed to be in the warehouse. In terms of invalid condition, one-sided benefit causing conflict for the parties contains something prohibited by the legal order. It is seen that it does not contain conditions contrary to the content of the contract and established practices. However, except for the condition that the collateral is retained with interest income in direct proportion to the period of stay in the Clearinghouse (Takasbank), in order to obtain the highest return. In terms of enforcement conditions, after the approval of the buyer and seller, transactions are carried out within the exchange system without asking for the right and approval of another person. Therefore, this contract can be considered as a running contract. In terms of the bindingness of this contract; at first glance, it can be seen as a mutual promise and non-obligatory promise based on the fact that the commodity and its price are not cash. But when the subject is examined in depth, it turns out to be a different situation. Because both parties are under mutual obligation by paying the guarantee stipulated by the Exchange, one party is obliged to deliver the commodity on time and the other party to deliver the price. In addition, the contract does not allow the parties to imagine the right. So, this contract can be considered as an obligatory contract. However, based on the current functioning futures contracts in agricultural commodities as a whole, it is considered unappropriate to Islamic law. In this study, first, the nature of futures contracts in agricultural commodities that are not deemed suitable for Islamic law in its current form are determined. Then, an analysis from the point of view of Islamic law was made and some offers were made for a model that was reconfigurated according to Islamic law. (shrink)

Identity crafts for migration and citizenship purposes require the assistance of brokerage actors that help secure documents, advise on self-presentations, and vouch for relevant credentials. While recognizing the contradictory roles these intermediaries play in both facilitating and controlling migration and the porous boundary between for-profit and non-profit actors, scholars have yet to explore what challenges these characteristics pose to the organization of a particular brokerage transaction. How do these intermediaries reconcile their roles as migration facilitators and surrogate gatekeepers? (...) Does it matter to present the transaction as driven by financial rewards or other loftier goals? How are the boundaries between different types of intermediaries enacted and contested? I explore these questions through the case of a religious organization that helps migrants establish their religious identities for asylum claims-making on religious grounds. Combining insights from the “relational work” approach with ethnographic research in Korean evangelical congregations in the U.S., I show how the template of gift giving allows the church to focus on making the faithful as God’s intermediary, instead of screening them as the state’s private deputy, and avoid an accusation that its trade with asylum-seekers turns the Christian persona into a quasi-commodity. The boundary between the church and commercial brokers, between gift giving and market exchange, however, is constantly contested and renegotiated through the interaction between the transaction parties. In conclusion, I discuss how the relational work approach can advance our comparative inquiry into the brokerage transactions facilitating the “profane” exchange of “sacred” identities for migration and citizenship purposes. (shrink)

Since 2008 I have been closely following the conceptual/performance/video work of Daniel Peltz. Gently rendered through media installation, ethnographic, and performance strategies, Peltz’s work reverently and warmly engages the inner workings of social systems, leaving elegant rips and tears in any given socio/cultural quilt. He engages readymades (of social and media constructions) and uses what are identified as interruptionist/interventionist strategies to disrupt parts of an existing social system, thus allowing for something other to emerge. Like the stereoscope that requires two (...) identical images to create an illusion of a three-dimensional image, Peltz sometimes visualizes two separate elements to create an object or moment that requires space and depth to focus on its varied layers. They say your brain has to process and make meaningful sense out of all that visual information before it can accept the illusion. I say your brain has to do a similar thing when looking and seeing the divine, magical, and faithful (social) art making of Daniel Peltz. Daniel Peltz is Associate Professor of Film/Animation/Video at RISD. He divides his time between Rhode Island and Sweden and is currently at work on an exhibition at Botkyrka Konsthall, Stockholm opening February 2013 and a new project to be included in the IASKA: Spaced Biennial (Australia) in 2014. This interview took place on Skype and is part one of a two-part interview. Feliz Lucia Molina: Are you in Providence, RI? Daniel Peltz: I’m at my house in Providence. I’ve been back for six days teaching winter session at RISD and doing this workshop series—these investors’ drum circles with a group of wealth managers. a client of the firm, 2013, photo Shirin Adhami FLM: The wealth managers were all drumming together? DP: They were all drumming in response to the performance of their retirement portfolios. FLM: Is this part of the “Unrealized Gain/Loss” piece? DP: Yes, it’s part of a show I’m working on in Sweden. I can show you because it was just today. I’ll show you some of this. Lets see—share screen [click, click, click]. This is the room. I’ve been using the camera system that’s already installed in the conference rooms to record them. So the video is being recorded directly by the wealth management office’s tech staff. These are the people I worked with in the last workshop. This conference table is less wondrous. They’ve been learning to drum in response to their retirement portfolios. I started by bringing in my little bit of wealth for them to propose a management strategy, I came to the follow-up meeting with a counter proposal, which was this workshop. So they agreed to do this series of workshops instead of managing my wealth. FLM: Does everybody in the room manage your wealth? That’s kind of a lot of people. DP: That woman in the back there and Craig —they handle new client business. So when you come there with your wealth, they sit down with you and suggest to you how they would manage it. They’re very nice, responsible people. FLM: And where is this? DP: This is in Providence and the one I was showing you is in Waltham, where I was today. Then I’m going to Newport for the last one on Friday. So I will have done four of them. This is the group in Waltham that I just played with today. I played directly with the two groups in Providence and I’m working with an ethnomusicologist at Brown, Asha Tamarisa, who is facilitating the last two. She’s helped develop the workshop in terms of figuring out how to train a group to do this and thinking about the compositional challenges of working in response to retirement portfolio data. FLM: Screensharing helps me to figure out tiny bits here and there about the project. DP: I might even be able to play you a little of the audio I’ve also been working with a group of professional percussionists on what will become a quarterly public investors’ drum circle event. Their stuff was really nice, but I want you to hear what we sounded like in the workshops. They’ve all been recorded by the a/v system in the offices. We use a simple structure where the drummer investors interpret the sensation of gain or loss as embellishments to a base heartbeat rhythm. The group holds the heartbeat and, as each person experiences gain or loss, they embellish that rhythm. "Screensharing helps me to figure out tiny bits here and there about the project" FLM: Is the process all very spontaneous? DP: Its actually quite structured. We produce a custom stock ticker that shows the performance of their collective portfolios. In advance of the workshop each participant submits assets in their retirement portfolio. Then we make a stock ticker that shows the real-time performance of their assets so that they can respond to almost live data. FLM: Are they reading the stock ticker projected up on the screen in the room? Do people drum in correspondence to the visual live data of the performance of their assets? DP: Exactly. They’re looking at the stock ticker as opposed to each other, so it’s a slightly shifted drum circle. They’re looking at the ticker but they’re listening to each other—that’s what we’re practicing. For example, NVO—the price is 172.08 but it’s down -1.16 and as that moves across the screen, the person who’s retirement is invested in that asset starts to embellish when that arrow first appears, based on their experience of loss. They stop when it exits the screen and return to the heartbeat. You could have one ticker for each retirement portfolio, but the way the workshop is constructed is that we just isolate one asset from each person’s portfolio so that everyone in the group is represented in a single ticker. So they’re drumming and looking at the ticker, but they’re hearing each other experience gain and loss. We’ve removed direct visual engagement from the social structure of a drum circle but the oral engagement is still there. FLM: So they had their own sound interpretation of gain and loss? DP: Yeah and that part is quite spontaneous as you were saying. In some of the preparatory exercises we’ve been working to give the participants more strategies for interpreting the sensations of gain and loss. We’re trying to develop their capacity to embellish a heartbeat or base rhythm but I’m not invested in having a melodious result. I’m quite curious about what this kind of structure will result in without any desire for a particular result. FLM: For context, can you talk about the project you did a couple years ago in Bali, “Unrealized Gain/Loss” in relation to this current wealth management project? DP: The workshops I’ve been doing use a similar strategy to the other components in this project. It started in Indonesia on my sabbatical and I was really trying to understand where I was physically and where I was being on sabbatical—this kind of strange jubilee structure where every seventh year you’re supposed to renew your self. And it was around the time of the global financial crisis. I was on sabbatical for the global financial crisis. I remember watching my father, in particular, respond to the financial crisis by monitoring his retirement portfolio and trying to make sense of it. I realized on a visit to their home that he checked his retirement portfolio every single day and I was really struck by that because in some way our parents are mysteries to us as children, especially their moods. We know how important their moods are but we don’t know what governs them. And somehow it was like I’d figured it out, it’s the performance of the DOW! So I think there was something in that. Then I was in Indonesia and I had been drawn there by an interest in their highly ritualized Hindu culture, where so much of life is driven by a ceremonial calendar. I was interested in Bali as this predominantly Hindu pocket within a predominantly Islamic country and life there being organized by this ritual calendar functioning as a kind of resistance to the dominant global religion of free-market capitalism. So I started to explore that correlation between the ways in which this culture that I was living in was sort of “living for the afterlife” and this idea within certain segments of American society of “living for the afterwork life”. The idea that your wellbeing in the “afterwork life” is tied to forces that are unseen and largely beyond your control has strong similarities to many religious understandings of the universe. So I started to explore that and the crafts and materials that were around me were primarily Batik and percussion. Percussion is a huge part of daily life in Bali. These gamelan troupes were everywhere. And I also happened to be there for Nyepi, the day of silence, which is preceded by a very elaborate procession and construction of demonic statues. These were the things that were around me and I started studying Batik with one of the Batik artists there and also started a conversation with two master Batik artists, one who is American and her Indonesian husband. I developed these patterns that were based on symbols from the performance of my retirement portfolio and worked with the batik artists to produce two sarongs. d. peltz - 2012 In producing the designs, I treated the performance of my retirement portfolio since my arrival at RISD [7 years] as a significant interval and then I looked at the ways in which decisions are made within retirement portfolios as having an extension outwards from the individual assets that underlie the retirement portfolio, which are kind of like the base elements of the retirement world. Then there’s the allocation of your assets, which is a global way of understanding an individual according to typologies, which are often referred to in terms of risk—this notion of a ‘risk profile’. What type of ‘person’ you are is determined by your attitude towards risk, or potentiality, and I found that to be a really fascinating way of understanding the universe. I remember looking at the tabs in my retirement portfolio and finding this one for viewing ‘Unrealized Gain/Loss’ and that’s often how I work—is just going through the Cambridge Parking Code, for example, and finding this section of the code that was called ‘Crossing Non-Signalized Locations’ and just feeling “I can’t do any better than that,” you know? That’s what I was talking about in terms of ready-mades that exist in the social sphere. So I found that tab, actually, a long time ago, and I pulled it out of a journal when I was there [in Bali] working on these pieces and I wound up making these two sarongs and later on a series of porcelain vessels for holding one’s unrealized gains and losses. At the time, I knew that I wanted a performance to come out of them, but I wasn’t sure what it was. I was inspired very much by this sort of thing: Pulls out a TIAA-CREF brochure with a man in a suit seated at a table. This guy is probably an actor, and [the brochure] says “TIAA-Cref announces “Individual counseling sessions at the Rhode Island School of Design. Individual counseling sessions at no additional cost to you. You can discuss your personal financial situation with an experienced TIAA consultant on a confidential basis. We are available to help you discuss how to achieve your financial goals by investing in financial solutions such as mutual funds, brokerage, life insurance, and annuities...etc....What retirement benefits best fits your situation?” Often I encounter this and I think O.K., this is one way to prepare for the after-work life and it seems inadequate to me. But, I also find it really inspiring. I really like the visual language of it. I kind of want to be that man. I’d like to see if I could maybe buy his clothes. FLM: What it is about the man on the brochure that interests you? DP: He’s offering personalized objective advice and a detailed evaluation of everything you need to know and do. Who wouldn’t want that? But he’s also something of a contemporary priest or priestess, mediating between the unseen all-powerful universe of global capitalism and the common worker. So I started off developing Unrealized Gain/Loss directly from the charts that represent the performance of my retirement portfolio. Then I came home and I wanted to use those. I had this word in my journal “unrealized gain/loss vessel.” I had this notion of vessels that would contain unrealized gains and losses. That felt really important to me that they would have somewhere to go. I had been thinking a lot about altars and making offerings—that somehow this really fickle, massive, difficult-to-comprehend-universe of the financial world—that somehow it might be nice if you could making an offering to it. [In Bali] they made such beautiful elaborate offerings. So I studied offering making as well with one of the women there and she taught me some of the standard forms created by folding leaves and the significance of the floral arrangements. I started working in clay and then moved to porcelain and I made these unrealized gain/loss vessels. I made a few of them, they have holes on either side that you can’t get your fingers in. But something can go in there and something can go out of there. It’s a nice size for putting on an altar. Then I got this commission from Artists in Context who was interested in my doing something for this project “Artists Perspectives for the Nation” project. I proposed initiating these investors’ drum circles as a new public performance form. I’m interested in bringing together those two symbols—the symbol of the djembe and the drum circle. unrealized gain/loss vessel - d.peltz - 2012 FLM: I can imagine the public digital stock ticker performing like a soft fleeting stream of information, a kind of (meaningless) illusory comfort blanket. DP: In some way you have to understand its relevance outside of the obvious, right? Because the obvious is illogical. Nobody is actually using that data to day trade, for example. People aren’t sitting there with their computers watching the market data in Times Square or setting up an outdoor office and being like “OK it’s up 3 points or it’s up 1.56, trade! Ok now buy, Ok now sell!” That would be a kind of a nice performance, actually. But actual day traders would want more up to date data than that. To understand what that data is doing is really important. And that’s something I’ve realized—that I’m interested in a particular kind of data visualization, which is not about what data can tell people, but what data can tell people who are visualizing it. For example, in the Cambridge Project “Crossing Non-Signalized Locations” I was interested in the 10,000 excuses archive of data recording five years worth of excuses for why people thought they shouldn’t have received their parking ticket. I was not interested in making that excuse wall so that the public could see and understand this data. Inevitably the data will be seen by others but I was really interested in what the action of visualizing the data told those who were visualizing it. The parking attendants themselves were writing those excuses on the wall—I was interested in what that kind action of writing the excuses on the wall told them about the data. Similarly, I’m interested in designing a way to allow people to pass this data from the unseen universe of the market, through their own bodies, which happens through the merging of the drum and the stock ticker. I’m interested in those two also as symbols; the drum as this symbol of the earth, the body and a pagan counterculture, and the stock ticker referring to the ethereal world of global markets—bringing those two together and making them dependent. I’m often drawn to conceptual propositions that I become invested in testing in a sincere way—at first they often they sound humorous to others, but I have to remember that there is humor in them. I don’t sit around and laugh about these things. I stop finding them funny at all. I’m interested in the proposition that we could know something about the after-work life by drumming in response to our retirement portfolio. So then I become really interested in how to craft that into a viable performance form for myself and others. FLM: The aspect of using sound in “Unrealized Gain/Loss” as a way of embodying the information to the asset holder is really intriguing—using sound as a means of embodying the asset data. Was sound a medium that made sense to use immediately or were you considering other means of attempting to embody it? DP: Well I do use other mediums within the project like textile, ceramic, and batik patterns. I was first drawn to the history of Batik patterns as a socio-economic stratification system and the vessels as a way of embodying or manifesting this data of unrealized gain and loss. My first approach was to work with meditation actually—a meditation workshop with my colleagues. I was going to offer this “Unrealized Gain/Loss” workshop where you would explore the sensations of gain and loss by adapting the way yogi-nidra brings you into contact with your physical surroundings and stretches your perception. FLM: At Naropa University there are/were business & compassion workshops—a sort of mash-up of business and compassion and how compassion could be incorporated into a business model. This process and engagement of “embodying data” also has to do with “Participatory Democracy and the Future of Karaoke” you created at the DNC in Denver in 2008. DP: That kind of appropriation and instrumentalization of spiritual practice could be disturbing and thus compelling as a strategy. For various reasons, I’ve come to be drawn to both the form of a quarterly public performance and the established performance form of a drum circle. Its something I’ve seen myself do before, that is to mess up a really good functional social system like a drum circle or karaoke. I remember I was developing language for the karaoke project and started calling it “Participatory Democracy and the Future of Karaoke” and one of my assistants on the project, who’s an incredible artist, said, “but don’t you think the future of karaoke is guitar hero?” and I realized that maybe he thought I was trying to improve the form. I’m just trying to get people to have this shifted embodied experience, I need to craft the performance context so that they can do that. In the case of the karaoke project, for example, what did I need in order to be able to do this [a person to stand up in front of a bar and deliver a karaoke speech]? I realized that the body is very vulnerable so I built a podium so that the speaker can feel secure enough to do this, otherwise you couldn’t get to this state achieved by passing these speeches through the body. Then I was, like, well you need to be able to practice the lyrics because you don’t know all the “songs” by heart, which became an insert to the massive track books carried by most karaoke VJs. And then sometimes the crowd in the bar isn’t there with me, so I needed to extract the voice of the crowd cheering from the original venue and I needed the local audience to cheer if they wanted to. I’m interested in both where the form succeeds and fails. In particular, one of the most interesting things is this auditory gap between the space where you are, the reduced scale of applause in your own little bar, and this grand scale of applause at the convention center where the speech was originally delivered. FLM: How did the concept of “Participatory Democracy Karaoke” come about and why did you use karaoke as a means of engaging what was happening at the DNC in 2008? DP: I was looking at a lot of different readymade media infrastructures within the city at the time. I was interested in the emergency broadcast systems and I developed a proposal to repurpose that system and karaoke became an important symbol because it was this populist form that was already engaged in exploring the sensation of celebrity but also visualizing the gap between ourselves and those with more power and influence. So it had this readymade capacity to play with power and celebrity and I felt like the Obama presidential campaign, the first one in particular, had some very curious overlaps with this culture of celebrity. Obama of course rose to power partly based on his oratory abilities and I was interested in how karaoke as a vehicle was so adept at offering people all that was left of authentic expression in a political speech. Managing a politician and constructing their identity is such a developed practice that it becomes, kind of automatically, a metaphor for the way that our own identities are constructed. Of course the Obama campaign was very hip and savvy and deploying this notion of grassroots. It was really pioneering in its use of social media and this deployment of notions of populism. I was interested at that time in the capacity of karaoke to track speech patterns, precise tempos of anyone’s delivery, and that to me was a way of thinking about what might be left of the authentic self. I was interested in karaoke’s capacity to extract that authentic component and offer it to others. So not just to stand up and be them, but to [literally] pass their speech patterns through your own body. A long time ago, it started to strike me as odd that one would make media at all. It struck me as a kind of un-contemporary way of going about making art in an age of media overflow. That logic extended into my thinking on delivery devices and installation as well. Why would one buy a screen or even set one up when there are so many out there? And the way in which these media displays function in karaoke bars and bars in general is very interesting to me. I’m drawn to this passive consumption of media where your primary social interaction is with the bartender or a few other individuals but these screens are around you and your attention is shifting back and forth between these spaces. So much political rhetoric is spoken to a half-listening audience. I was interested in what was happening in the slippage and that karaoke was a kind of slippage amplifier. So if you put people in a bar and they are delivering a Kucinich speech and Kucinich comes up on a screen then your getting a sound bite of Kucinich and an image of Kucinich and your friend is talking to you— FLM: A kind of magic takes place in that incongruency between sound and image and the karaoke participant who’s relaying the speech-text at the same time. DP: Exactly and there’s some kind of truth in that experience of reality. FLM: Yeah, there’s something uncanny about seeing the body close-up like that as though it can’t lie to you in that moment or context. It’s a weird moment of luminous clarity. The work you’ve done and all of what you’re saying about karaoke is so very interesting to me. Growing up, my dad and uncles sang karaoke a lot (and still do) and being first-generation Filipino American is a different cultural subtext entirely. I’m also seeing it from the position of witnessing family members who are carriers of these stories and songs. And seeing them cherish these Tony Bennett, Frank Sinatra, Elvis Presley songs so much, I also see how their bodies are literal vessels of popular music that signifies something greater—it signifies their cultural and socioeconomic place in the world. The way that they cherish these American 1950s and 1960s pop songs is similar to having a certain kind of reverence for their spiritual faith or Catholicism. It’s a similar kind of care, focus, and attention exerted in karaoke and Catholicism—that these two structures and systems give something to focus on. Setsuko, Seiji and Hitoshi in Obama, Japan as Obama in Indiana — d. peltz — 2008 DP: Sure there something about the relationship we have to our candidate or the way we go about choosing a candidate, which is very similar to a deity or idol. I learned a lot about karaoke culture through this project. I’d never done karaoke. I’d never been interested in it as a form and then I travelled to Japan as part of the project when I made “Setsuko, Seiji and Hitoshi in Obama, Japan as Barack Obama in Indiana” and it was quite fascinating because my image of karaoke had always been this very public forum in a karaoke bar and then I discovered there’s this whole other world of karaoke where people even go on their own, they go and rent a room or cubicle and sing, or they go on a date—just the two of them go and sit in a room and do karaoke together. FLM: I’m interested in issues that take place within or as a result of specific karaoke culture(s). In the Philippines within the last several years there’s been occurring the “My Way Killings” phenomenon. Apparently baklas or gay men are employed by karaoke establishments to help “smooth over conflicts over karaoke singing”—these social forms of conduct, or lack thereof that arise out of the infrastructures of this social sport. In this one rural part of the Philippines there’s a village karaoke machine that the whole village shares—the Aeta indigenous people have an appointed “keeper” of the karaoke machine. I also see karaoke as a proxy to the confessional box in Catholicism where one goes to pour out their sins (minus the penance and redemption). The karaoke machine enables one to literally sing out whatever’s going on internally, but through highly saturated popular song lyrics. While karaoke is a public and social sport, it can also be a private one. Karaoke is a means of communion with each other. DP: Right, this preference for this kind of mediated communication. In Japan I was trying to organize people to work on this project and I was talking about throwing a party and they were like, well, we have to rent a karaoke machine because what else are we going to do? And I think its kind of serving that function of surrogacy—emotional surrogacy. FLM: And karaoke tools can be read as ritual tools—the magic mic that holds everything. There’s got to be some overlap at some point—between religious ceremony and devotion to the karaoke machine. DP: The way I designed the piece was so that it could slip right on top of the ready-made karaoke infrastructure. There was a flat-packed podium and it was made of a single sheet of plywood with no fasteners that slotted into itself. Those were sent out to a network of karaoke bars that I invited to become “karaoke convention centers.” The local VJs downloaded our custom-made, speech-extracted tracks that were designed to play on their existing equipment. In this sense the piece is a permanent installation. If you go to Denver today, some of the VJs still have the tracks in their library of offerings, the Ramones and Romney. It was this notion of re-purposing readymade infrastructure to create a distributable populist form. Obama was coming and the convention was in the Pepsi Center and 30,000 people were coming including 10,000 journalists. The impetus behind the larger art project that commissioned international artists to make works in Denver, was that local people weren’t going to have much access to this convention. It was like an invasion, the city was being descended upon, but if you lived a block away from the site, you had the same access as people in Zimbabwe&mash;30 second media bits excerpted from the speeches. So it seemed to me that the fundamental gesture was how do I take that signal, which was travelling out of the convention center, and create a local interruption? FLM: Is that what you mean by ‘intervention’? The term is frequently used to help describe your work. DP: It depends on the day. Around that karaoke project I had a conversation with Krzysztof Wodiczko and he was proposing that maybe rather than intervention, we should consider the word interruption. Because intervention is kind of an overused term in the field of art and it has militaristic and therapeutic associations outside of the art context. Fundamentally, the idea of intervening speaks to the readymade social world as your primary material. So it’s basically suggesting a kind of subtractive process, which gets back to this question: what is the role of the contemporary media artist in a world that’s so saturated with media? You can’t work additively in a saturated field. If you want to make a visible mark you have to work subtractively. That’s what intervention is about to me, just another way of saying “to work subtractively.” FLM: So the interventions or interruptions aren’t necessarily adding or subtracting, but are they putting orange cones there? What are they doing exactly? DP: I think you’re right about that, they’re not really subtracting. They’re adding to the scope of possibility. I’ve been thinking (with this exhibition I’m mounting next month) about the work as explorations and expansions of social possibility. Maybe it’s more insertion. I started calling the pieces ‘insertions’ that I was making in Rejmyre—a small town in Sweden where I’ve been working for six years now. My favorite site to install there is the tourist bureau. I started calling the video pieces that I made for the tourist bureau, video insertions. This idea that you’re inserting something into the readymade media infrastructure of the world resonates with me. Insertion leverages a context, creating a possibility that the inserted object might be naturalized in the process — that someone can encounter my video in Rejmyre as tourist information. And then all of a sudden tourist information can include some American guy prostrating through town and it can include really bad relationship advice. Maybe insertion is a better word. tourist information – d. peltz 2009-present  . (shrink)

A broker’s activity is one of the elements of insurance mediation. Brokers sell property and personal as well as life insurance policies. Apart from the range of duties, the quantitative condition of distribution channels, the paper also discusses problems of a broker’s professional ethics, which include broadly understood information reliability, activation honesty and assistance in damage liquidation. Signed in 1998, the Sobieszew Charter lays out the norms of ethical broker’s activity in three dimensions: their contacts with clients, mutual contacts and (...) contacts with an insurance company. As well as that, the Charter created the Commission of Professional Ethics, the role of which is settling conflicts arising in the above-mentioned dimensions. The Charter also established seven main principles of professional ethics including the principle of a fair turnover or that of forming healthy relationships among brokers. The paper investigates the data concerning ethics in broker organizations, the major elements of which are a broker’s impartiality, conducting honest negotiations and the duty of submitting identical requests for proposal to insurance companies. The issue of insurance brokerage is not discussed. (shrink)

Background: Medical tourism, thought of as patients seeking non-emergency medical care outside of their home countries, is a growing industry worldwide. Canadians are amongst those engaging in medical tourism, and many are helped in the process of accessing care abroad by medical tourism brokers - agents who specialize in making international medical care arrangements for patients. As a key source of information for these patients, brokers are likely to play an important role in communicating the risks and benefits of undergoing (...) surgery or other procedures abroad to their clientele. This raises important ethical concerns regarding processes such as informed consent and the liability of brokers in the event that complications arise from procedures. The purpose of this article is to examine the language, information, and online marketing of Canadian medical tourism brokers' websites in light of such ethical concerns. Methods: An exhaustive online search using multiple search engines and keywords was performed to compile a comprehensive directory of English-language Canadian medical tourism brokerage websites. These websites were examined using thematic content analysis, which included identifying informational themes, generating frequency counts of these themes, and comparing trends in these counts to the established literature. Results: Seventeen websites were identified for inclusion in this study. It was found that Canadian medical tourism broker websites varied widely in scope, content, professionalism and depth of information. Three themes emerged from the thematic content analysis: training and accreditation, risk communication, and business dimensions. Third party accreditation bodies of debatable regulatory value were regularly mentioned on the reviewed websites, and discussion of surgical risk was absent on 47% of the websites reviewed, with limited discussion of risk on the remaining ones. Terminology describing brokers' roles was somewhat inconsistent across the websites. Finally, brokers' roles in follow up care, their prices, and the speed of surgery were the most commonly included business dimensions on the reviewed websites. Conclusion: Canadian medical tourism brokers currently lack a common standard of care and accreditation, and are widely lacking in providing adequate risk communication for potential medical tourists. This has implications for the informed consent and consequent safety of Canadian medical tourists. (shrink)

In this article, we explore the micro-foundations of elite politics by focusing on changes in network structures that emerge from informal conversations. Empirically, we offer a novel “situational conflict” explanation to account for the puzzle of why reformist leaders were periodically ousted during China’s reform era (1977–1992), emphasizing the unexpected power collision that catalyzed the violent crackdown on the Tiananmen movement in 1989. To do so, we employ network analysis and narrative to utilize an original dataset of elite conversations and (...) primary sources that have only recently been made available. We find that ideological cleavage and manipulative brokerage produced each conflict to varying degrees but were contingent on the relational structure arising from elite conversational interactions. Furthermore, the actual unfolding of those conflicts often resulted from key actors’ discrepant understandings of the changing relationships via ongoing interactions at vital moments, such as during the Tiananmen movement. Integrating micro-sociological theories and network analysis, our work has methodological and theoretical implications for unpacking the black box of elite politics and its role in macro-historical change. (shrink)

What are the ethical obligations of the sellers of financial products to their customers? Stockbrokers in the U.S. have a legal and ethical requirement to recommend only “suitable” investments to their customers. This is a fairly weak standard. Currently, there are proposals to raise the standard to a fiduciary one in which the recommendations would have to be in the best interests of the clients. Brokers sell solutions to financial problems. Similar to an auto mechanic or a doctor, the product (...) often consists of both the professional advice and its implementation. There are numerous conflicts of interest between brokerage firms and their customers in that the products that pay the highest commissions may not be the best ones for the customers. The societal perspective adds complications, however. Society depends on modern financial markets to raise capital for productive enterprises and to spread risk. Issuers of financial products need distribution channels for their products just like the producers of any other products. Commissions create powerful incentives for the distribution channels, but at the same time produce conflicts of interest—a type of ethical pollution. Just as our society tolerates some pollution as a byproduct of other useful activities, it may be useful to tolerate some of these financial conflicts of interest. The nature of the relationship should govern the ethical standard. Those selling advice, regardless of how they label themselves, should adhere to a best-interest fiduciary standard. More limited relationships should be limited to the mandate involved in the relationship. (shrink)

This article provides a conceptual and empirical assessment of UN brokered partnerships that seek to deepen or create inclusive and sustainable agricultural supply chains in sub-Saharan Africa. More specifically it appraises the decision-making mechanisms, processes of partnership brokerage and project implementation within the UNDP Growing Sustainable Business Initiative (GSB) in Kenya. The paper argues that the lack of bottom-up participation in decision-making mechanisms and the predominantly economic imperatives driving the GSB partnership projects have failed to reach out to the (...) partnerships’ intended beneficiaries—Kenyan small producers of nuts and mangoes. In conclusion it is suggested that opening up the GSB platform might hold the promise of reconciling sustainable business models with (some) poverty reduction. (shrink)

Based on the daily data from January 2, 2019, to September 30, 2020, this paper uses the extended CoVaR model to measure the spillover effect of systemic risk among top 10 securities companies by market value in China, All Share Brokerage Index, All Share Financials Index, All Share Insurance Index, and CSI Banks Index. The conclusions are as follows: there are risk spillover effects among 10 securities companies, which are asymmetric and bidirectional and highly volatile in a short period (...) of time; the spillover effect of systematic risk of securities companies is not necessarily related to the market value of securities companies but has a strong relationship with the stock market; there are risk spillover effects between the sample securities companies and the four major indexes, but there are significant differences in the size of the spillover effects; the securities industry has a great risk spillover effect on the financial industry, but the risk spillover effect of other financial sectors on the securities industry is very small. Finally, we put forward countermeasures and suggestions. (shrink)

Relevance of the article is determined that the effective functioning of the reinsurance market greatly depends on the development of its infrastructure because it creates opportunities for implementation of reinsurance services, mediates, accelerates and facilitates placement and execution of reinsurance contracts. Given the state of the domestic insurance market mediation necessary means to enhance its development and integration into the global reinsurance market. The article is a study of measures to enhance the role of mediation in the insurance market of (...) Ukraine. The article provided a critical assessment of the legal status of insurance mediation in Ukraine. Factors that determine its role in the insurance market of Ukraine. Established quantitative and cost indicators of intermediation of brokers in insurance and reinsurance, given their logical explanation. Suggestions to create appropriate conditions for the development of mediation in the insurance and reinsurance markets in Ukraine. Mediation plays an important role in the development of the insurance market of Ukraine since: helping the participants to choose the most optimal proposal for the establishment of additional guarantees of the insurance liabilities; strengthening partnerships and trust between the reinsurer and the reinsurer; improves the quality and dynamics of sales reinsurance services; supports a healthy competitive environment in the reinsurance market. It was established that the quantitative and cost indicators of intermediation of brokers in insurance and / or reinsurance in Ukraine do not match. By number of deals leadership position with insurers-residents, the cost - non-resident reinsurers. The most attractive segment for mediation turned provision of agreements with non-resident reinsurers for property insurance. To create the appropriate conditions for the development of mediation in the insurance and reinsurance markets of Ukraine should: increase transparency of brokers to introduce their professional liability insurance and the formation of guarantee funds. (shrink)