I investigate whether bank exposures to sovereign debt during the European debt crisis affected the real economy. I show that a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010–2011 that had negative real effects on small and young firms. Because banks do not usually mark their holdings of sovereign bonds to market, I explore the transmission channels of the unrealized losses on credit supply. I show that a shock to MTM exposures reduced short-term bank funding from U.S. money market funds rather than affecting equity or working through alternative channels.

This article examines the evolution of cryptology as a business trait and a distinct state-controlled and -regulated profession in sixteenth-century Venice. It begins by briefly discussing the systematic development of cryptology in the Renaissance. Following an examination of the amateur use of codes and ciphers by members of the Venetian merchant and ruling classes, and subsequently by members of all layers of Venetian society, the article moves on to discuss the professionalization of cryptology in sixteenth-century Venice. This was premised on specialist skills formation, a shared professional identity, and an emerging professional ethos. The article explores a potential link between the amateur use of cryptology, especially as it had been instigated by merchants in the form of merchant-style codes, and its professional use by the Venetian authorities. It also adds the profession of the cifrista—the professional cipher secretary—to the list of more “conventional” early modern professions.

In the field of business and politics, research on the role of business actors in individual fossil fuel industries that contribute to climate change has been sparse. At the same time theorising the role of ad hoc coalitions has been limited even though they appear to be an important vehicle for business actors seeking to shape contemporary policy contests. This paper attempts to address these understudied areas by drawing on a rich empirical dataset to examine the role of three ad hoc coalitions in the U.S. energy sector. In doing so, it builds on the existing literature to establish a theoretical basis for identifying the defining elements of ad hoc coalitions and the conditions under which business actors decide to establish them. Further, it sheds light on how business actors use ad hoc coalitions in three key fossil fuel industries—gas, oil, and coal—to shape policy outcomes, and in turn shape the path to a clean energy transition.

In this exploratory case study based on qualitative research, we explore the perspectives and experiences of autistic self-advocates in the Netherlands regarding autism, (self-)advocacy, and consumer-run organizations. The focus of our study is a consumer-run organization by and for adult Persons on the Autism Spectrum in the Netherlands: PAS-Nederland or PAS for short. Our analysis reveals four themes relevant to the acceptance and integration of adults with autism into society and work: (1) invisibility of autistic adults; (2) diversity of the autism spectrum; (3) autistic leadership; and (4) collaboration between people with and without autism. We discuss the practical implications of our findings for the inclusion of people with autism in work and society. Our study underscores the importance of putting autistic people at the center of decision-making processes and solutions aimed at improving their outcomes in society, in general, and in the workplace specifically.

Social exchange theory (SET) is one of the most prominent and well-known theories in the organizational sciences literature (Cropanzano & Mitchell, 2005). In the focal article, Chernyak-Hai and Rabenu (2018) asserted that SET needs to be adjusted to account for changes in the nature of work, workers, and workplace characteristics. Specifically, they identify that workplaces are now more volatile, complex, uncertain, and ambiguous (Bennett & Lemoine, 2014), and work itself has become more flexible, virtual, and technology dependent; accordingly, today's workers are sourced from a global talent pool and more frequently occupy nontraditional employment arrangements (e.g., freelancing). It is undisputable that the workplace landscape is vastly different from that of the workplace landscape during which early forms of SET were originally articulated (Gouldner, 1960; Homans, 1958).

Chernyak-Hai and Rabenu (2018) argue that social exchange theory (SET) should be revised to accommodate work relationships in the “new era” of work, characterized by a more diverse workforce with changing expectations for relationships between themselves and their organizational representatives. To account for the modern workplace, Chernyak-Hai and Rabenu introduce “new” or “modern exchange variables” that capture modern workplace conditions and employee characteristics or preferences, which they expect to indirectly influence whether and how employees develop high-quality work relationships with organizational representatives.