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A setup for ion-laser interaction was coupled to the state-of-the-art AMS facility VERA five years ago and its potential and applicability as a new means of isobar suppression in accelerator mass spectrometry (AMS) has since been explored. Laser photodetachment and molecular dissociation processes of anions provide unprecedented isobar suppression factors of >1010 for several established AMS isotopes like 36Cl or 26Al and give access to new AMS isotopes like 90Sr, 135Cs or 182Hf at a 3-MV-tandem facility. Furthermore, Ion-Laser InterAction Mass Spectrometry has been proven to meet AMS requirements regarding reliability and robustness with a typical reproducibility of results of 3%. The benefits of the technique are in principle available to any AMS machine, irrespective of attainable ion beam energy. Since isobar suppression via this technique is so efficient, there often is no need for any additional element separation in the detection setup and selected nuclides may even become accessible without accelerator at all.
Sets out what central banks can and must contribute to the sustainability agenda, especially on climate change, given their existing mandates and objectives. That includes monetary policy, financial stability, prudential regulation, balance sheet-management and even bank notes. Central banks do not need and should not wait for changes to their legal duties, because climate change is a material influence on all their existing responsibilities. Meanwhile, macroeconomic stability is a pre-requisite for the wider sustainability agenda and so there needs to be a continuing priority focus on monetary and financial stability.
The one bad apple spoiling the barrel has become a common metaphor to describe risk culture in organisations. This ‘inside-out’ perspective begins with the individual as the unit of analysis and follows with inferences to the broader environment. Since the global financial crisis (GFC) of 2008, risk culture for many has become the explanation for shortcomings, poor decisions and moral failures in organisations. We present an institutional perspective of some of the forces that shape risk culture in organisations.
The chapter analyses the role of financial regulation in facilitating the development of organizational norms to enhance risk culture in financial institutions. The paper suggests that shortcomings in risk culture – particularly as understood through the lens of human agency theory – in large financial institutions are the result of collective agency problems. The paper argues that regulation has a role to play in addressing collective agency problems but that regulators should be selective in what tools they use to enhance risk culture in institutions with consideration given to the regulation of remuneration and trusted financial products. It further suggests that to address collective agency problems in large financial institutions policymakers should consider the utility of a senior managers’ liability regime to incentivize senior officers and board directors to be more proactive and aware of misconduct and other behavior that results in agency costs for the firm and society. The paper concludes that a effective regulation involves a balance between official sector regulation and self-regulation that can channel the collective actions of individuals to improve governance and operations in a way that benefits overall firm performance and which mitigates socially costly behavior.
Risk culture warrants a broad and multidisciplinary view. Our authors have provided insights and brought new thinking to this topic as an antidote to approaching the subject with linear thinking and prescriptive solutions. Their chapters provide multiple lenses for understanding and exploring risk culture as an organisational phenomenon.
The one bad apple spoiling the whole barrel has become a common metaphor used with reference to risk culture in organisations. This “inside-out” perspective begins with the individual as the unit of analysis and follows with inferences to the broader environment. Since the Global Financial Crisis (GFC) of 2008, risk culture for many has become the explanation for shortcomings, poor decisions, and moral failures in organisations. This volume presents an institutional perspective of the forces that shape risk culture, and culture more generally, in organisations through a multi-disciplinary examination from a variety of leading academics and subject specialists. The authors demonstrate that firms play a role as manufacturers and managers of risk and they challenge common conceptions that attribute risk to chance circumstances or rogue behaviours. The foundational concepts needed for an institutional view of risk culture are highlighted with subsequent links to significant developments within society and firms.