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Event: Inertia: Purposeful Inefficiencies in Financial Markets
Wednesday 26 March 5-7pm, MAR 2.06, LSE
Financial professionals are paid as if they were capable of “beating the market” on a regular basis. In fact, active fund managers routinely underperform low-cost index funds, and financial analysts frequently produce inaccurate stock recommendations—and many receive large fees even when their clients are losing money. Why do financial intermediaries still persist in the investing world despite this track record?
Speakers at the launch will be:
Ken Lee, Loughborough Business School, Loughborough University
Yuval Millo, Warwick Business School, University of Warwick
Michael Power, Department of Accounting, London School of Economics and Political Science
Crawford Spence, King’s Business School, King’s College London
After presentations by the speakers there will be an open discussion, followed by a reception.
If you wish to attend, please fill in this short registration form - https://forms.office.com/e/tzNnq02eUz
Event: International cooperation when mistrust deepens
Friday 28 Feb 2-6pm
LSE in person and on Zoom
An event to celebrate the publication by Oxford University Press of “International cooperation when mistrust deepens: Britain and the first international regulatory regime” by Perri 6 and Eva Heims.
Speakers:
Perri 6, School of Business and Management, Queen Mary University of London and visiting professor, Centre for the Analysis of Risk and Regulation, London School of Economics
Mette Eilstrup-Sangiovanni, Department of Politics and International Studies (POLIS), University of Cambridge
Eva Heims, Department of Politics and International Relations, University of York and research associate, CARR, LSE
Mathias Koenig-Archibugi, Department of Government and Department of International Relations, London School of Economics
Sir Geoff Mulgan, Science, Technology, Engineering and Public Policy (STEaPP), University College London
Edward Page, Department of Government, London School of Economics
If you wish to attend either in person or online, please fill in this short registration form - https://forms.office.com/e/YBYNuvyG4v
News: Christopher Hood (1947-2025)
Professor Martin Lodge remembers a wonderful colleague and leading international figure in the fields of public administration and regulation.
We were extremely saddened to learn about the death of our former colleague Christopher Hood in early January. Christopher Hood has been among the most international leading figures in the fields of public administration and regulation.
Read more here.
Event: Societal resilience in crisis management
Monday 9 December, 3-5.30pm
Vera Anstey Room, Old Building, LSE
In a world of acute and creeping crises, increasing emphasis has been placed on societal resilience. National and sectoral crisis frameworks have emerged that emphasise the importance of community engagement in crisis management. This workshop focuses on the alignment of different frameworks, the underlying assumptions that feed into understandings of societal resilience and whether frameworks address a world of acute and protracted crises that are frequently of a transboundary nature.
This workshop explores both international academic and practitioner approaches towards building and maintaining societal resilience. Speakers include Arjen Boin (Leiden) and Rebecca Elliott (LSE). It celebrates the work of our former CARR Director Bridget Hutter whose final work on societal resilience in flood management was published as CARR discussion paper (https://www.lse.ac.uk/accounting/assets/CARR/documents/D-P/DP89.pdf)
Please indicate your interest in attending by signing up here:
https://forms.office.com/e/qNdfpeMe9z
News: Dr Andrea Mennicken Awarded Competitive ESRC Grant
Andrea Mennicken, Co-Director of CARR and Associate Professor of the Department of Accounting, has been awarded a highly competitive grant by the Economic and Social Research Council (ESRC) the 8th Open Research Area (ORA).
Find out more here
News: Ha muito otimismo sobre influencia de governos no comportamento do cidadao diz pesquisador (There is a lot of optimism about the influence of governments on citizen behaviour, says researcher) – Martin Lodge, Co-Director CARR
Read the full article here
Event: Rethinking the Separation of Powers
Frank Vibert
Discussants: Paul Kelly and Martin Loughlin
Thursday, 14 November, 4pm-5.30pm
MAR 2.06
How can democracies develop to address the challenges of adverse shocks and ongoing change? This workshop explores the evolution and resilience of different systems for the separation of powers, especially in view of balancing the reasoning of experts with the demands of electoral politics. Based on his recent book publication Rethinking the Separation of Powers (Edward Elgar), Frank Vibert will explore ways of building democratic resilience into contemporary political systems.
A reception will follow the workshop.
If you wish to attend please sign up here - https://forms.office.com/e/uNrnStLjui
News: Elena Beccalli is the new Rector of Milan's Catholic University of the Sacred Heart
For the first time in the history of the University of the Sacred Heart in Milan, a women has been appointed Rector. Elena Beccalli will take over on 1 July, after the painful death on 23 May of her predecessor Franco Anelli. Beccalli was a student at the university that she is now preparing to lead for four years, from 2024 to 2028. She was appointed by the Board of Directors who met on 20 June. The decision of the Board of Directors follows the appointment of Professor Elena Beccalli, already serving as Dean of the School of Banking, Finance, and Insurance Sciences, by the University's 12 Faculty Councils on 22 May, with 636 preferences out of a total of 685, corresponding to around 93% of those voting.
Read the full article here
Publication: Social Resilience: Flood risk governance and local participation in the UK
DP 89 - Bridget Hutter - May 2024 - ISSN 2049 2718 - Full Paper
Abstract
This research examines the emergence of notions of resilience in UK flooding policy, and the definition and practice of resilience strategies at a local level. This specific case exemplifies broader concerns – the issues raised are relevant to global efforts to define and implement resilience strategies, and to efforts that relate not just to climate-related events but also to other events such as pandemics and terrorism. The research examines the definition of resilience, its incorporation into policy and governance regimes, and its implementation at the most local level. It considers how we try to govern in a post risk society environment, which recognises the need to embrace uncertainty.
Event: CARR workshop - Regulating Transitions in Government
MAR.2.04, LSE, 4-5.45pm, 23 May 2024
Speakers:
Catherine Haddon (Institute for Government)
Valerie Boyd (Partnership for Public Service)
Chris Liddell (former White House Deputy Chief of Staff)
Steve Bunnell (former General Counsel, US Department of Homeland Security)
Dan Corry (New Philanthropy Capital)
Transitions in government represent a critical point in the life of politics and administration. The transfer of power from one administration to another is a time of profound change - involving considerable opportunities for changes in policy direction. The transition process therefore requires a system which protects ongoing policy and programme commitments, avoids or minimizes national security risks, but still allows sufficient scope for the new administration to implement its agenda. Developing a regulatory regime that strikes an appropriate balance between such competing objectives, while also ensuring the necessary levels of participation and cooperation from both the incoming and outgoing administrations, raises a host of challenges.
Please kindly confirm your interest in attending by signing up here: https://forms.office.com/e/yMmuEcmqDy
Event: CARR/CCRP Energy Regulation for Technology and System Changes in the Net Zero Transition Round Table
11am - 2pm, 18th April 2024
ELG02 Drysdale Building, City, University of London
The CARR/CCRP Roundtable of 18th April 2024 will cover a range of themes including:
- How network regulation is changing to reflect different priorities for the networks so that incentive regulation can work alongside growth in electricity networks and reduced demand for gas.
- Wholesale market reforms to get to net zero. How would a shift to locational pricing make net zero cheaper and quicker?
- Potential changes required to support low-carbon power generation as the market evolves to a fully decarbonized energy system and design of support schemes that keep such costs to a manageable level.
- Electricity rates design; increasingly these rates are becoming price signals impacting actual consumer decisions, both in terms of adoption technologies as well as in using those. An improved cost-reflective rate design is vital to avoid unnecessary investments in the power system and spur electrification while avoiding unwanted distributional consequences.
- How to achieve affordability and distributional fairness in the net zero energy transition and avoid a regressive distribution of cost. Can a competitive market help consumers through the net zero transition by providing new services to end users, while also protecting those consumers that cannot yet afford to participate in the energy transition?
News: Bridget Hutter: 1956 - 2023
Colleagues at the Centre for Analysis of Risk and Regulation (CARR) were greatly saddened to learn of the passing of Bridget Hutter on April 10th. Bridget was latterly Professor of Risk Regulation in the Department of Sociology at the London School of Economics until her retirement. Besides being an esteemed colleague and friend, Bridget will be most well-known for her major role in the founding and development of CARR, being its Co-director from 2000-2005 and sole Director thereafter until 2010. During this period of leadership she established CARR as a major international centre for the study of risk management and regulation in organizational and institutional settings. Her own work made major contributions to this agenda. At the same time in the early 2000s she also supported the field of sociology as general editor of the British Journal of Sociology. Beyond her leadership of CARR, she also was a dedicated and committed mentor and supervisor.
Read more here.
News: The Board of Trade and the regulatory state in the long 19th century, 1815–1914
Perri 6, Eva Heims
How does regulatory statehood develop from the regulatory work which governments have always done? This article challenges conventional views that regulatory statehood is achieved by transition to arm's length agencies and that it replaces court-based enforcement or displaces legislatures in favor of less accountable executive power. To do so, we examine the major 19th-century surge in development of micro-economic regulatory statehood in Britain, which had followed more gradual development in early modern times. We show that when the transformation of the Board of Trade is understood properly, a richer appreciation emerges of how regulatory statehood is institutionalized generally and of British state-making in particular. To demonstrate this, we introduce a novel conceptual framework for analyzing and assessing change on multiple dimensions of regulatory statehood, distinguishing depth of regulatory capacity and regulatory capability along six dimensions.
April 2024
Read the full article here.
News: Un-solvable crises? Differential implementation and transboundary crisis management in the EU
Much has been said about how crises in the EU create disintegration or differentiation pressures. Considerable attention has been paid to EU crisis governance mechanisms. Yet, less attention has been paid to the anticipation of effects of differentiated implementation on transboundary crisis management regimes. This article asks how differential policy integration accommodates the anticipation of differential implementation through institutional choices in transboundary crisis management regimes. Concerns about the consequences of national customisation influence the way in which transboundary crisis management regimes develop in terms of allocation of authority and constraints on member state discretion. The paper compares EU transboundary crisis regimes in four sectors: banking, electricity, youth unemployment, and invasive alien species. Concerns with ongoing differential implementation of transboundary crisis management generate further inevitable tensions in governance systems, leading to continued contestation over institutional arrangements.
November 2023
Read the full article here.
Event: Crisis Management from a Relational Perspective: an Analysis of Interorganizational Transboundary Crisis Networks.
Carlos Bravo-Laguna, Hebrew University of Jerusalem | HUJI · Federmann School of Public Policy and Government
7th December 2023, 12-2pm, MAR 3.20
Abstract: Although transboundary crises are becoming more frequent in an increasingly interdependent world, our understanding of the relational dynamics governing these under-researched phenomena remains limited. This paper addresses this knowledge gap by exploring whether interorganizational transboundary crisis networks have common characteristics and identifying drivers of tie formation in successful structures of this kind. For this purpose, it applies descriptive Social Network Analysis and Exponential Random Graph Models to an original dataset of three interorganizational transboundary crisis networks. Results show that these structures combine elements of issue networks and policy communities. Common features include moderate centralization, a core-periphery structure, and the popularity of international organizations. Additionally, successful networks display smooth communication between NGOs and international organizations, whereas unsuccessful networks have fewer heterophilous interactions. In contrast, preferential attachment could not be linked with successful crisis networks. These findings show how evidence from relational studies could guide future research on transboundary crises.
Event: CARR Seminar 17 October 2023, 12:30-14:00
Kira Matus, HKUST
“Chemophobic or just chemo-ambivalent? Linking the public’s risk perception and regulatory policy change”
MAR 3.20
Event: CARR – Sociology Research Seminar 18 October, 14:00-15:30
Paula Jarzabkowski
“Disaster Insurance Reimagined: Protection in a Time of Increasing Risk”
Vera Anstey Room
Event: CARR Event – Sir David Omand Book Launch 25 October 2023 17:00-18:30
How to Survive a Crisis: Lessons in Resilience and Avoiding Disaster
Vera Anstey Room
Event: CARR Regulation Roundtable 26 October 2023 12:00-15:00
Diane Coyle, University of Cambridge
Alumni Theatre
Event: CARR Future of Valuation Studies Workshop 30-31 October 2023
30 October 12:00-18:00
31 October 09:00-16:00
Vera Anstey Room
Event: CARR Vulnerability in Regulation Workshop
Thursday 21st September 2023, 14:30-18:00
LSE, MAR 1.09
More information here
Event: ORG workshop “Organizing risk and managing supply chains”
The Organizing Risk Group (ORG) invites you to hear from a multidisciplinary expert panel who will discuss a range of contemporary risks to effective supply chain management, the ways in which different risks can be organized, and the consequences for organizations, supply chains and wider inter-organizational networks.
Date: 19 April 2023
Time: 9:00-10:00am (CEST)
Venue: Webinar, please register here
Event: Spectrum Auctions: designing markets to benefit the public, industry and the economy
March 2023
More details here
Recording available here
Event: AOI and CARR Seminar
Speaker: David Pinzur (LSE Department of Sociology)
March 2023
News: The Case for Smart Muddling Through
The way to a new intelligent administration does not lie in fundamental and comprehensive reforms of administration, but in gradually “muddling through”, write Kai Wegrich from the Hertie School Berlin and Martin Lodge from the London School of Economics. This includes the continuous adjustment of measures and trial-and-error processes.
January 2023
Read the full article here.
Event: The politics of experimental policymaking
Speaker: Kai Wegrich, Professor of Public Administration and Public Policy, Dean of Research and Faculty, Hertie School, Berlin
October 2022
We are living during a second boom of policy experiments. Similar to the first wave of the 1970s, the expectation is that testing policies and regulations in a limited setting will provide the evidence base for choosing policy designs and scaling-up policies that have demonstrated their efficacy in an experimental setting.
Publication: "Introductory study to the political-administrative foundations of regulation"
Mauricio Dussauge (CIDE) and Martin Lodge (2022) "Introductory study to the political-administrative foundations of regulation", CIDE, February 2022 - Click Here
Publication: How can the concept of public value influence UK network utility regulation?
DP 88 - Martin Cave, Janet Wright - January 2021 - ISSN 2049 2718 - Full Paper
Abstract
There is much recent debate about extending the purposes of investor-owned firms to embrace the wider interests of a variety of stakeholders. Network regulatory decisions already involve extensive use of centralized social cost-benefit analysis to capture some aspects of public value. A gap remains which might be filled by a decentralized process, in which firms are supported by their regulator to expand their purposes to include the pursuit of public value, identified by regulated firms in collaboration with consumers and citizens, and delivered in innovative and entrepreneurial ways.
Event: Comity: Multilaterism in the New Cold War
Speaker: Frank Vibert (LSE)
Discussant: Nick Sitter (Central European University)
November 2021
To mark the launch of his new book, Frank Vibert explores the implications of the critical new juncture where globalisation is in retreat and global norms of behaviour are not converging.
News: Putting ‘off-balance-sheet fiscal agencies’ under the control of the European Parliament could help democratise Eurozone governance
November 2020
Many congratulations to Andrei Guter-Sandu from CARR who co-authored the above article. He, together with his co-author Steffen Murau, were recently awarded a prize for this research as part of the Hertie Foundation’s essay competition on capitalism and democracy. A German version of this article has been published in the business weekly WirtschaftsWoche (see link at end of the blog article).
Event: Transboundary Crisis Management in Europe in Wake of COVID 19
May 2020
What are the emerging lessons for political crisis leadership? What can we say about the resilience of liberal democratic political systems? And what lessons can be drawn for multi-level crisis management? Watch Here
https://www.transcrisis.eu
Publication: The role of administrative capacity in complementing performance measurement systems.
DP 87 - Jacob Reilley, Nathalie Iloga Balep, Christian Huber - March 2020 - ISSN 2049 2718 - Full Paper
Abstract
With the rise of New Public Management, regulators have increasingly turned to quantitative systems of performance measurement for assessing and monitoring public organizations. At the same time, there has been a swelling focus on service users as judges of organizational performance. As many have observed, regulatory initiatives which emphasize performance measurement and user-orientation are enacted quite differently across different countries, public sector contexts, and individual organizations. One reason for this variation is public organizations’ varying and sometimes inadequate capacities for compiling performance information and implementing new management practices.