Investment managers: a new breed from European stock?

Article Abstract:

Institutional investors in the UK and the US mimic the behavior of private stock holders in that they are not directly involved in the management of the companies in which they hold stock, maintaining a distance. Institutional investors would rather sell their shares than make public their disagreements with management. Institutional fund mangers weight portfolios towards the overall market and generally do not maintain large, permanent stakes in companies. This preference for diversity and a predictable yield characterized by a demand for rapid growth in earnings and dividends precludes the accrual of corporate power by institutions and cubs their ability to positively influence management. With the approach of the single European market, the UK will increasingly be influenced by the continental European system, a system characterized by close relationships between banks and and businesses. Banks supplying businesses loans and equity capital are afforded board representation and are actively involved in managing the business.

Methods, Accounting, Investment advisers, Europe, Western

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Salami tactics for a new economic order

Article Abstract:

Recent moves toward lifting some of the tax burden from part-time employment, including the proposed drastic reduction in National Insurance contributions (NIC) are significant steps toward helping Great Britain ease the problems of job shortages and service paucity. By cutting back the NIC tax, a trend is established toward reducing the marginal cost of employment in types of work that are presently underpaid, but which will probably play a large role in the economy of the future. Two keys to reducing the direct costs of employment are: reforming the tax system to replace taxes such as the NIC with measures such as the personal expenditure tax, and working toward an economy in which people depend less for their livelihood on direct rewards for work done. The immediate effects of the proposed 1985 cutback of the NIC tax are also discusses.

United Kingdom, Economic aspects, Insurance, Great Britain

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Freer life beckons in Europe

Article Abstract:

European Commission directives affecting the life insurance industry in the European Community (EC) will create a freer regulatory environment encouraging cross-border business, thus offering new opportunities for Scottish life insurance companies. The First Life Directive in 1979 allowed for freedom of establishment, allowing a firm in one EC state to set up a subsidiary in another. Freedom of service has also been established, in which a firm in one country can write life insurance policies for clients in another country even though the firm does not have a subsidiary in that country. Scottish life insurance companies can use the freedom of service provisions to expand into continental Europe without establishing expensive networks, but success in the life insurance business often is the result of access to local distribution channels.

Life insurance, Europe, Insurance industry, European Union, European Union. European Commission

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