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The purpose of this paper is to explain progress, or the lack of it, in achieving workplace gender equality goals prescribed by affirmative action regulation by using concepts from soft regulation and organizational learning.

The research design is a longitudinal study (2002-2012) of a critical case, that of a single large organization in the male-dominated steel manufacturing, distribution and mining industries. The case focusses on the evidence about organizational learning to be found in that organization’s reports to government on its activities to promote workplace gender equality.

While other factors play a role, the apparent failure of the soft regulation to generate a significant shift in gender equality outcomes may also be attributed to ineffective organizational learning, demonstrated by the absence of systematic reflection within the organization on how to improve workplace gender equality, and the lack of firm targets and external benchmarking.

Self-reported data may be overstated or incomplete. More research is needed to confirm the nature of the specific learning processes occurring within organizations.

Absent the advent of hard sanctions in workplace gender equality regulation, the responsible government agencies may find it valuable to focus on ways to encourage target organizations to develop competence in organizational learning.

More effective gender equality regulation may change organizational policy and practice and improve work opportunities for women.

Rather than concluding that the only alternative, when soft regulation is unsuccessful, is hard regulation, this paper shifts the focus to ways that soft regulatory processes might be improved to strengthen their effect.

This paper aims to examine the impact of bank regulation and supervision on financial stability. Financial sector reform, especially in developing countries, takes the form of a sudden adjustment in regulation and supervision. The main objective of the paper is to examine whether this fast and sudden adjustment in regulation and supervision has an undesirable impact on financial stability. Furthermore, the paper examines the role of real economic development in determining the impact of financial reform on financial stability.

Empirically, on a sample of 57 developing countries over the period 2000-2013, the author explored the impact of bank regulation and supervision on financial stability for different sub-groups of countries. The division is based on the real level of economic development and, most importantly, on the speed of adjustment in regulation and supervision. The study uses the cross-sectional–ordinary least square model. Each country has three observations (average 2000-2004, average 2005-2008 and average 2009-2013), which are convenient, with the date of the three surveys on regulation and supervision (2002-2006-2011). The period of the averages is selected to cover periods before and after the survey as regulation and supervision may be adopted before the survey and as its impact may persist for the period after.

The major finding of this study is that it supports the important role of the speed of adjustment in regulation and supervision, and its impact on financial stability. Soft adjustment in regulation and supervision has more positive impact on financial stability than fast adjustment. Activity restrictions have positive and significant impact on financial stability in soft adjustment countries’ group. On the other hand, in countries with fast adjustment, results show negative and statistically significant impact on financial stability, especially for supervisory independence. More time is needed for supervisors to adapt to new regulation and supervision and gain expertise to monitor financial condition of banks in a consistent manner. Results also show that the level of economic development is an important factor when testing the impact of regulation and supervision on financial stability. In lower income countries, more room is available for corruption in lending, which has a negative impact on financial stability.

This study advocates the necessity of taking the speed of adjustment in regulation and supervision by policymakers in developing countries, while initiating reform in the financial sector. Financial sector reform that takes the form of a sudden adjustment in regulation and supervision may have undesirable results in terms of financial stability. On the other hand, soft adjustment in regulation and supervision, which gives more room for supervisors to adapt and gain expertise, may have more positive impact on financial stability.

This paper is the first paper to explore new methods of calculating the speed of adjustment in regulation and supervision, and to examine whether the high speed of financial reform in developing countries has an undesirable impact on financial stability.

The Report of the Royal College of Physicians (London) and the British Cardiac Society issued in April last was the product of a joint working party, whose aim was to formulate the best possible advice which can at present be given to medical practitioners towards the prevention of coronary heart disease. It caused quite a stir, particularly its dietary recommendations, and the mass media made the most of it, more from inferences drawn from the measures recommended than from the report itself. Now that the sensation of it has gone and the dust has begun to settle, we can see the Report contains nothing that is new; it tells us what we have long known. Like the Horsemen of the Apocalypse, except that there are three of them, at least for the moment, the causative factors of the rising incidence of coronary heart disease, built into our affluent society, have been working their way at the heart of man for a good many years now.

The aim of this study is to apply the concept of social norm dynamics to explain how corporate governance soft law is enforced.

Using data of German listed stock companies and of economic media coverage between 2001 and 2010, the authors observe the complex relationship between sanctions and behavior in the social context of corporate governance soft law.

The authors find the public discussion of normative demands related to corporate governance issues increases if firms do not comply with the German Corporate Governance Code. The authors show that groups of actors, such as DAX companies, represent the addressees of normative demands, i.e. targets of expectations about what is appropriate and what is not. The authors also find that normative demands tend to be personalized, as public discussion is greater when initiated by a specific individual or firm. Finally, the authors demonstrate that social control in terms of public sanctioning positively influences a firm’s compliance with the soft law whereby negative statements (disapproval) outweigh the effects of positive statements (approval).

We corroborate the social character of normative demands in the context of corporate governance soft law, and contribute to a better understanding of why soft law can work, despite it having no legally binding force. The results of our study suggest that sanction mechanisms in the context of social norms underpin the strength of soft law as an alternative to, or extension of, hard law.

The findings of the Steering Group on Food Freshness in relation to the compulsory date marking of food contained in their Report, reviewed elsewhere in this issue, has brought within measurable distance the Regulations which were, in any case, promised for1975. The Group consider that the extension of voluntary open date marking systems will not be sufficiently rapid (or sufficiently comprehensive) to avoid the need or justify the delay in introducing legislation.

The purpose of this paper is to pursue the dialogue on the global firms’ regulation vis-à-vis human rights and labor standards in developing countries.

Locke’s book The Promise and Limits of Private Power is analyzed and discussed with respect to more recent global regulation literature and mechanisms.

Locke advocates that private voluntary regulation has to be combined with local laws in developing countries to fully enforce labor standards and workers’ rights. In light of recent changes, the interesting model proposed by Locke shows some weaknesses.

To enforce labor standards and workers’ rights in developing countries, the author argue that governments in developed countries need to be seen as major players in multinational corporations (MNCs) regulations. But above all, the economic model needs to be questioned.

The British countryman is a well‐known figure; his rugged, obstinate nature, unyielding and tough; his part in the development of the nation, its history, not confined to the valley meadows and pastures and uplands, but nobly played in battles and campaigns of long ago. His “better half”—a term as true of yeoman stock as of any other—is less well known. She is as important a part of country life as her spouse; in some fields, her contribution has been even greater. He may grow the food, but she is the provider of meals, dishes, specialties, the innovating genius to whom most if not all British food products, mostly with regional names and now well‐placed in the advertising armentarium of massive food manufacturers, are due. A few of them are centuries old. Nor does she lack the business acumen of her man; hens, ducks, geese, their eggs, cut flowers, the produce of the kitchen garden, she may do a brisk trade in these at the gate or back door. The recent astronomical price of potatoes brought her a handsome bonus. If the basic needs of the French national dietary are due to the genius of the chef de cuisine, much of the British diet is due to that of the countrywoman.

In our March issue, we discussed briefly the reappearance of the deficiency diseases among children in parts of this country; particularly rickets and, as far as our own experience goes, mainly among the immigrant peoples. With evidence on every hand of bigger and bonnier babies, school children several pounds heavier and at least two inches taller than the average of a generation ago; stores bulging with foods of every description and the accent always on the health aspect of foods, this news may have been difficult to believe. Now, under the title “Rickets Recurs in British Children”, the May issue of the Practitioner contains a survey of the increasing incidence of rickets among children in the Glasgow area (Arneil, Gavin O., 1964, Pract. 192, 652).

A new Protection of Consumers (Trade Descriptions) law to replace existing legislation was before the House of Lords—it had a second reading and passed to the Committee stage but has now lapsed because of the Election —as the outcome of the Molony Committee on Consumer Protection which made its final report about three years ago. Merchandise Marks law has proved extremely valuable protection for the consumer in a wide field of misdescription and in the narrower sphere of food control a useful measure for supplementing Sect. 6, Food and Drugs Act, 1955, especially where the latter seems less suitable in application. The broad purpose of the Merchandise Marks Acts is to deal with misdescription of goods—false trade description—and as far as food is concerned, this is not always a matter of quality. On rare occasions it has been seen to work in reverse. In the curious case of Essex County Council v. Tuckwell (Butchers) Ltd., 1964, where the defendant had inadvertently supplied English instead of the New Zealand lamb ordered, generally accepted as being meat of better quality, the L.C.J. held that there was no defence against the charge of having sold meat with a false trade description.

In a full blaze of comings and goings, it is unnecessary to remind ourselves that the holiday season is upon us; mass travel to faraway places. The media have for months, all through the winter, been extolling a surfeit of romantic areas of the world, exspecially on television; of colourful scenes, exotic beauties, brilliant sunshine everywhere; travel mostly by air as so‐called package tours — holidays for the masses! The most popular areas are countries of the Mediterranean littoral, from Israel to Spain, North Africa, the Adriatic, but of recent years, much farhter afield, India, South‐east Asia and increasingly to the USA.