About us

The Centre for Analysis of Risk and Regulation | CARR is a major interdisciplinary research group based at LSE.   

CARR was an ESRC research centre for ten years until 2010. It will continue to operate as a hub for a wide range of different projects and activities. It is an interdisciplinary research unit operating within LSE’s Department of Accounting on behalf of a group of stakeholder departments.

  • organisation and system crisis
  • innovation and sustainability
  • reputation and legitimacy

CARR's analytical emphasis in each of these areas is to understand and explain: variations in the organisation of risk management and regulation; pressures for change in policy and practice; and the consequences of regulation and risk management

CARR is an international reference point and centre of excellence for the study of risk and regulation.


CARR Directorate


Professor Martin Lodge

Director of CARR

Professor of Political Science and Public Policy | Department of Government

Comparitive regulation and public administration; Government and politics of the EU and of Germany; Railway regulation in Britain and Germany; Regulatory reform in Jamaica.

Personal Page



Dr Andrea Mennicken

Deputy Director of CARR

Associate Professor of Accounting | Department of Accounting

Global accounting and audit regulation and standardisation; Processes of professionalisation Accounting; Economic transition and social transformation in post-Soviet Russia; The sociology of calculative practices; Accounting in the public sector

CARR Senior Research Associates


Professor Bridget Hutter

Professor of Risk Regulation | Department of Sociology

Regulation of economic life; Corporate responses and non-state forms of regulation


Professor Peter Miller

Professor of Management Accounting | Department of Accounting

Accounting and advanced manufacturing systems; Investment appraisal and capital budgeting; Accounting and the public sector; Social and institutional aspects of accounting.


Professor Mike Power 

Professor of Accounting | Department of Accounting

Role of internal and external auditing; Risk reporting and communication; Financial accounting and auditing regulation.

CARR Research Associates

Professor Michael Barzelay

Professor of Public Management | Department of Management | LSE


Professor Elena Becalli

Professor of Accounting | Università Cattolica del Sacro Cuore | Milan

E:  W: Link

Dr Matthias Benzar

Lecturer in Sociology | Department of Sociological Studies University of Sheffield

E:  W: Link

Dr Daniel Beunza

Associate Professor of Management | Department of Management | LSE


Professor Gwyn Bevan

Professor of Management Science | Department of Management | LSE


Professor Julia Black

Professor of Law | Department of Law | LSE


Dr Adam Burgess

Reader in Social Risk Research | University of Kent

E:  W: Link

Dr Madalina Busuioc

Lecturer in Politics | Department of Politics | University of Exeter

E:  W: Link

Dr Stefano Cascino

Assistant Professor | Department of Accounting | LSE

E: W: Link

Dr Yasmine Chahed

Lecturer in Accounting | Department of Accounting | LSE

E:  W: Link

Professor Damian Chalmers

Professor in European Union Law | Department of Law | LSE


Dr Maria Correia

Associate Professor | Department of Accounting | LSE

E: W: Link

Dr David Demortain

Research Associate

E:  W: Link

Dr John Downer

Lecturer in Risk and Resilience | University of Bristol

E:  W: Link

Dr Terence Gourvish

Director of Business History Unit | LSE
Regulation of Railway Industry, Safety and Channel Tunnel


Professor Matthew Hall

Professor of Accounting | Monash University


Dr Hanan Haber

LSE Fellow in Public Policy and Administration | Department of Government | LSE 


Dr Eva Heims

LSE Fellow in Public Policy and Administration | Department of Government | LSE


Professor Michael Huber

Sociology of Regulation, Faculty of Sociology | Bielefeld University


Professor Will Jennings

Professor of Political Science and Public Policy | University of Southampton

E:  W: Link

Dr Silvia Jordan

Associate Professor in Accounting | Department of Accounting, Auditing and Taxatio | Innsbruck University

E:  W: Link

Professor Bjorn Jorgensen

Professor of Accounting and Financial Management | Department of Accounting | LSE

E:  W: Link

Dr Saipriya Kamath

Assistant Professor | Department of Accounting | LSE

E:  W: Link

Professor Roger King

 Visiting Professor | School of Management | University of Bath


Dr Mathias Koenig Archibugi

Associate Professor in Global Politics | Department of Government | LSE


Dr Christel Koop

Lecturer in Political Economy | Department of Political Economy | King's College London

E:  W: Link

Dr Liisa Kurunmäki

Associate Professor in Accounting | Department of Accounting | LSE

E:  W: Link

Dr Javier Lezaun

Lecturer in Science and Technology Governance | James Martin Institute, Saïd Business School | University of Oxford

E:  W: Link

Professor Sally Lloyd-Bostock

Visiting Professor | Department of Sociology | LSE


Professor Donald MacKenzie

Professor of Sociology | University of Edinburgh

E:  W: Link

Dr Carl Macrae

Senior Research Fellow | Department of Experimental Psychology | University of Oxford


Dr Kira Matus

Assistant Professor in Public Policy and Management, | Department of Government | LSE


Dr Linsey McGoey

Senior Lecturer in Sociology | University of Essex

E:  W: Link

Professor Anette Mikes

 Professor, University of Lausanne

E:  W: Link

Professor Yuval Millo

Professor of Social Studies of Finance and Management Accounting | University of Leicester


Professor Edward C Page

Sidney and Beatrice Webb Professor of Public Policy | Department of Government | LSE


Dr Tommaso Palermo

Lecturer in Accounting | Department of Accounting | LSE  W: Link

Dr Juan Pablo Pardo-Guerra

Assistant Professor | Department of Sociology | LSE


Dr Bartholomew Paudyn

Fellow | Department of International Relations | LSE


Professor Nick Pidgeon

Professor of Environmental Psychology | Cardiff University

E:   W: Link

Professor Tony Prosser

Professor of Public Law, University of Bristol

E:  W: Link

Dr Henry Rothstein

Senior Lecturer in Risk Management | Department of Geography and King's Centre for Risk Management | King's College London

E:  W: Link

Dr Rita Samiolo

Lecturer in Accounting | Department of Accounting | LSE


Dr Susan Scott

Associate Professor - Reader of Information Systems | Department of Management | LSE


Professor Nick Sitter

Professor of Public Policy | Central European University

E:  W: Link

Professor Kim Soin

Associate Professor of Accounting and Management, University of Exeter Business School

E:  W: Link

Professor Lindsay Stirton

Professor of Law | University of Sussex

E:  W: Link

Dr Brendon Swedlow

Assistant Professor of Political Science | Northern Illinois University

E:  W: Link

Professor Peter Taylor-Gooby

Professor of Social Policy | University of Kent at Canterbury

E:  W: Link

Professor Mark Thatcher

Professor of Comparative and International Politics | Department of Government | LSE


Dr Zsuzsanna Vargha

Lecturer in Accounting and Organization | School of Management | University of Leicester

E:  W: Link

Mr Frank Vibert

Senior Visiting Fellow |Department of Government and Founder Director of European Policy | LSE


Dr Leon Wansleben

Assistant Professor | Department of Sociology | LSE


Professor Kai Wegrich

Professor of Public Management | Hertie School of Governance | Berlin

E:   W: Link


CARR Research Staff

Dr Jeremy Brice 

FSA/CARR Research Officer


Dr Lydie Cabane 

Research officer on the Transcrisis project


Dr Alex Griffiths 

Research officer on the Quantification, Administrative Capacity and Democracy (QUAD) project


CARR Visiting Fellows

Dr Elena Bechberger, Senior Policy Advisor, Monitor

Charles Borden
, Partner, Allen & Overy, Washington D.C.

Dr Annelise Dodds,  MEP for South East England

Dr Julien Etienne, Managing Consultant, ICF International

Dr Sebastian Eyre, Head of Energy Regulation, EDF Energy

Ed Humpherson, Head of Assessment, UK Statistics Authority

Dr Jeremy Lonsdale, Director, National Audit Office

CARR Research Students

Mr Laurence Ball | Research Student

Thesis: Risk Assessment and Risk Management: Proliferation, Controversy, Evolution

Interests: Energy, risk communication, health and safety, financial risk management, risk versus hazard-based regulation, risk regulation of adventure sports, risk within the UK legal system.

Ms Natalie Bienisch | Research Student | Departments of Government and Sociology | LSE

Thesis: Explaining Variation in Transnational Risk Regulation Regimes

Natalie's research interests are: Transnational regulation, private governance, risk regulation, domain interests: manufacturing (toys) and agriculture (chocolate and agricultural standards).

Mr Jose Bolanos  | Research Student | Department of Political Economy | King's College London

Thesis: Explaining the impact that variations in the management of uncertainty across carbon certifications have toward the sustainability of a low-carbon economy.

Jose's area of expertise refers to the Risk/Uncertainty Analysis, Management and Regulation nexus. His current research studies how the management of uncertainty within punctual private entities affects the long term sustainability of dual (public/private) regulatory frameworks in global environmental governance.  He also enjoys studying about the role that risk/uncertainty has toward International Relations, Energy & Renewables, Business Planning, and Project Management.

Mr Juergen Braunstein | Research Student | Department of Government | LSE

Thesis: The Political Economy of Sovereign Wealth Funds

The rise of Sovereign Wealth Funds (SWFs) as key economic actors has raised questions about their origins. Current scholarship on SWFs uses concepts and methods from the disciplines of Economics and International Relations and focuses on the examination of macroeconomic as well as geostrategic factors. This research investigates their explanatory value in accounting for different forms of SWFs.

Mr Robert Charnock | Research Student | Department of Accounting | LSE

Thesis: Civil Society as a Quasi-Regulator: Accounting for 'financed emissions'

Carbon accounting is playing an increasingly important role in integrating climate risks into strategic planning and in understanding sources of greenhouse gas emissions. Working with the United Nations Environment Programme and the Greenhouse Gas Protocol, Robert is studying an emerging carbon accounting standard for measuring the emissions that a financial institution enables through its investment and lending activities. Robert’s thesis explores how networks of civil society organisations enable the development and uptake of these new carbon accounting standards. This sheds light on the interplay between civil society and states in efforts to limit the increase in average global temperatures to two degrees Celsius.

Ms Izabela Correa | Research Student | Department of Government | LSE

The thesis aims at investigating why transparency systems, understood as mandatory disclosure of information by private or public institutions in specific public services, develop through time. The dynamics of transparency systems will be examined based on an analytic model of the system’s purpose, built on Hirschman’s theory of ‘exit, voice and loyalty’.

Ms Flavia Donadelli | Research Student | Department of Government | LSE

Thesis: Culture and Coalitions in Brazilian Environmental Policies: The Role of Ideas in Tackling Deforestation 

Flavia’s research interests are related to environmental regulation, risk and governance in South America. More specifically, she studies the interactions of different modalities of regulatory control (public, private, communitarian or random) in Latin American regulatory regimes related to the conservation of the Amazon Forest. Analysing regulatory regimes as varied as biodiversity, climate change, wildlife protection, timber production and desertification, her research seeks not only to describe which modalities of regulatory control are being used in each case but also to understand the reasons why they were chosen and the main consequences they have been generating.

Mr Fergus Green | Research Student

Thesis: Transitional Justice in Economic Reform

Fergus' research focuses on transitional justice in economic policy reform - i.e. how governments ought to treat the winners and losers of such reforms - with particular application to climate change policies (such as pricing carbon) and inequality-reducing reforms (such as increased wealth taxation). Before commencing his PhD research, Fergus spent six years working in climate change law and policy, most recently as a Policy Analyst and Research Advisor to Professor Nicholas Stern in the LSE's Grantham Research Institute on Climate Change and the Environment.

Ms Irina Iordachescu | Research Student | Department of Government | LSE

Thesis: Riding the Wave of Change: A Technology-Driven Approach to the Regulation of Electromagnetic Radio Waves

Irina’s research examines the transnational management of radio spectrum for mobile electronic communications in Europe in order to establish the extent to which existing theories of collective action explain the management of common-pool resources (CPRs). The thesis offers a technology-driven approach to explaining the evolution of regulatory systems and instruments for managing CPRs.

Mr Philip Kessler | Research Student | Department of Political Economy | King's College London

Thesis: The Diffusion of Competition Policy in Western Europe

The spread of competition policy amongst EU member states is an important component of the ‘market turn’ in Europe. Yet, empirical evidence is scattered with regards to assessing what drove reform towards more comprehensive national competition regimes. This research project tries to shed light on this puzzle by examining the interdependent relationship between EU and member state competition policies.

Ms Siân Lewis | Research Student | Department of Sociology | LSE

Thesis: Inside the Regulated Organisation: How Banks Manage Financial Regulation in a Changing Regulatory Environment

The financial crisis of 2008 has prompted a period of almost unprecedented change in financial regulation in terms of both scale and speed of implementation. The core purpose of this research project is to examine how this dynamic environment is dealt with by the regulated organisations, the UK banks. The ongoing changes in regulatory rules, regulatory structures and cultures create a level of uncertainty for these organisations, which must be managed in order to maintain their ‘licence to operate’. In other words, how do regulated UK banks manage and respond to the UK prudential regulator and prudential regulation in a changing regulatory environment?

Mr Vassily Pigounides | Research Student | Department of Accounting | LSE

Thesis: The Factory of Prices: Sociology of Revenue Management

How is it possible that on the same flight passengers seated in the same row purchased their tickets at different prices? Has airline pricing gone out of control, or is it quite unfair? Grounded in qualitative methods of enquiry, Vassily’s doctoral thesis intends to answer these questions by dealing with a technology of pricing—namely revenue management—examining its origins, history, and uses. This research is an opportunity for discussions on market mediation, that is to say on the actors, tools, and know-how involved in organising, structuring, and coordinating the market, to allow buyers and sellers to exchange.

Mr Bernardo Rangoni | Research Student | Department of Government | LSE

Thesis: Experimentalist architectures and policymaking: regulating the European internal energy market

Bernardo’s research is in the field of comparative regulation and public policy in Europe. It focuses on regulatory governance in the European Union, notably in the energy sector. He is currently studying an unconventional, experimentalist form of governance. A key question is under what conditions experimentalist architectures result into experimentalist policymaking.

Mr Christopher Sampson | Research Student | Department of Government | LSE 

Thesis: Marketisation Reforms and the Dynamics of Government-Industry Relations in China’s Water and Electricity Industries

In 2002, the Chinese central government initiated comprehensive liberalisation and marketisation reforms in the domestic electricity and water supply industries. While the water sector has evolved into a very competitive environment with low entry barriers, electricity reforms have not progressed in the way that was set out by government policy and have instead produced a reshaped industrial setting that is still highly state-driven. Both sectors display strong similarities concerning network characteristics, institutional history and overall strategic relevance for the national economy, but differ vastly with regards to levels of administrative and industrial concentration. This dissertation comparatively analyses how this variance has mattered for the way in which key objectives of regulatory reform were pursued in both industries.

Mr Philip Schleifer | Research Student | International Relations Department | LSE

Thesis: Same Same but Different: The Diffusion and Variation of Multi-Stakeholder Sustainability Governance

In the early 1990s, a new organisational model emerged on the stage of global sustainability governance, combining multi-stakeholder participation with market-based regulation. It spread rapidly and widely in the global economy. Because of their transparency and inclusiveness, multi-stakeholder initiatives (MSIs) have been praised for their deliberative capacity and potential to reduce the democratic deficit of global governance institutions. However, empirical evidence suggests that the diffusion of the model has given rise to variation in these key dimensions of organisational design. With a focus on three MSIs in the agriculture industry – the most dynamic site of diffusion in recent years – this project examines the causes of this variation. Combining an in-depth case study design with a comparative analysis, its preliminary findings point to the background and lessons-learned of institutional entrepreneurs and the key role they play in the formation of dominant organisational coalitions.

Ms Dorothy Toh | Research Student | Department of Accounting | LSE

Thesis: Constructing Audit Quality: A historical and comparative approach

Dorothy’s doctoral research is a qualitative study on the disconnect between regulatory, academic and practice thought using audit quality as a case study.  Her research focuses on the factors, influences and crises which have shaped the discourse on audit quality, across the different domains and over time, including how these conceptualisations have changed over time.  The research aims to distil complexities on an area which has steadily been gaining momentum over time, yet to date, is still without universal definition or meaning. 

Mr Slobodan Tomic | Research Student | Department of Government | LSE

Thesis: Explaining Enforcement Patterns of Anticorruption Agencies: a Comparative Analysis of Western Balkan Countries

The thesis seeks to explain what factors have driven the enforcement of six anticorruption agencies in Serbia, Croatia, and Macedonia. Enforcement is operationalised through the concepts of enforcement style, developed in regulation literature, and that of agency reputation, concerning how institutions act verbally and present themselves in the public. Possible explanatory factors are drawn from three broad political science approaches: “formal design matters”, “timing matters”, and “government-agency interaction matters”. While taking into account the role of institutional powers, agency de-jure independence, life- and political-cycle factors - all deriving from the first two approaches, the emphasis is on exploring the “interaction effect”: are anticorruption agencies’ enforcement practices swayed by whether the government supports or undermines them through channels such as budget and resource allocations, verbal public support or hostility, jurisdictional fiddling, or leadership change?


Ms Judy Van der Graaf | Research Student | Department of Sociology | LSE

Thesis: The Regulatory Role of Non-State Actors: A Case Study of the Credit Rating Industry

This thesis focuses on the regulatory role of non-state or private actors. Through a case study of the credit rating industry the thesis aims to contribute to knowledge about the role that non-state actors have in the regulation of global risks. More specifically the thesis analyses the involvement of credit rating agencies with regard to three components of regulatory control: information-gathering, standard-setting, and behaviour-modification. The thesis relies on an extensive documentary survey and interviews with experts in the field of credit rating.

Ms Maria Zhivitskaya | Research Student | Department of Accounting | LSE

Thesis: The Practice of Risk Oversight

In light of the recent financial crisis, there are many academic, consulting and regulatory statements about risk governance and oversight. Maria’s research presents a taxonomy of risk oversight within the UK financial system and aims to develop an understanding of what oversight means to different actors. The focus is on (1) micro-prudential oversight of financial institutions by the Bank of England’s PRA (and historic regulatory practices by the FSA), (2) board-level oversight of risk management, and (3) oversight of risks performed within organisations. The way these types of risk oversight articulate with each other is rapidly evolving, especially since the crisis revealed many flaws in the way risk was understood and managed.

CARR Administrative Staff


Justin Adams - Regulators Forum, Seminars and Visitors

Contact details: Room OLD 3.20, +44(0)20 7955 6542


Yvonne Guthrie - Centre Manager

Contact details: Room OLD 3.19, +44(0)20 7955 6408


Muhammed Iqbal - Web, Publications and Discussion Papers

Contact details: Room OLD 3.22, +44(0)20 7955 6278

Louise Newton-Clare - TransCrisis Project Manager

Contact details: Room KSW 3.11, +44(0)20 7107 5040


Salah Ud Din - Centre Administrator

Contact details: Room OLD 3.20, +44(0)20 7955 6577



Policy Advisory Committee

The Policy Advisory Committee advises CARR on risk and regulation research as well as on the overall direction of CARR’s research and knowledge exchange oriented activities.

Suzanne McCarthy is a board member of the Fundraising Regulator and has been involved with many UK regulators and other public sector bodies.

Tracy Cohen was a CARR postdoctoral fellow, before becoming Telecommunications Commissioner in South Africa and then joining the corporate world. She is now chair of the board of directors of the South African National Nuclear Regulator.

David Wilson is the Deputy Director, International Knowledge and Innovation Unit (EU), at the Department for Business, Innovation & Skills.

Geoffrey Myers is a Visiting Professor in Regulation at the LSE and Director of Competition Economics at Ofcom.

Peter Ladegaard is the Global Lead for Regulatory Policy and Management at the World Bank’s Governance Practice.

CARR Interns

The Carr Interns are junior members making an important contribution to the running and research life of CARR

Martin Rogers is the Video Producer for CARR