The present paper introduces and compares two alternative perspectives on hybridity. One is the perspective of hybrids being located at the interface of dominant ‘sectors’ such as the private for-profit sector, the public sector and the civil society or nonprofit sector. The alternative perspective focuses on a combination of sector-specific governance mechanisms. The paper discusses the charac...

A new risk was born in the mid-1990s known as operational risk. Though its application varied by institutions—Basel II for banks and Solvency II for insurance companies—the idea stays the same. Firms are interested in operational risk because exposure can be fatal. Hence, it has become one of the major risks of the financial sector. In this study, we are going to define operational risk in addi...

Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Cooperation and Development (OECD) shall promote policies designed:-to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to ...

A new risk was born in the mid-1990s known as operational risk. Though its application varied by institutions Basel II for banks and Solvency 2 for insurances the idea stays the same. Firms are interested in operational risk because exposure can be fatal. Hence it has become one of the major risks of the financial sector. In this study, we are going to define operational risk in addition to its...