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In and out of revolving doors in European Union financial regulatory authorities
Regulation & Governance ( IF 3.2 ) Pub Date : 2021-06-30 , DOI: 10.1111/rego.12424
Adam William Chalmers 1 , Robyn Klingler‐Vidra 2 , Alfio Puglisi 1 , Lisa Remke 3
Affiliation  

Although the idea of revolving doors evokes the dynamic image of moving in and out of public and private sector jobs, most scholars take a static view of the revolving door phenomenon, looking mainly at entrances, sometimes at exits, but almost never at both. This is a serious oversight given that normative concerns about revolving doors turn mainly on assumptions about how individuals become socialized through their multiple interactions working on both sides of the revolving door. Our study seeks to revive a bidirectional picture of revolving doors. To this end, we use financial regulatory politics in the European Union (EU) as our case and a unique dataset of nearly 200 regulators from three EU financial regulatory bodies as of 2018. We first describe the extent to which these multiple movements are happening and, second, we explain differences between those who make zero revolving door movements and those who make multiple movements. Our central argument is that previous job experience in the regulated industry (finance) generates valuable expertise and network ties that in turn lead to more movements. Experience in industries outside of finance, however, diminishes this expertise and loosens network ties and hence leads to fewer movements. Our results support these arguments. We also find those making multiple movements are not in the business of finance (traders or those leading sales or marketing teams) but instead have careers on both sides of the revolving doors focused on law, policy, and government affairs.

中文翻译:

欧盟金融监管机构的进出旋转门

尽管旋转门的概念唤起了公共和私营部门工作进出的动态形象,但大多数学者对旋转门现象持静态观点,主要关注入口,有时在出口,但几乎从不同时关注两者。这是一个严重的疏忽,因为对旋转门的规范关注主要取决于个人如何通过旋转门两侧的多重互动而变得社会化的假设。我们的研究旨在恢复旋转门的双向图景。为此,我们使用欧盟 (EU) 的金融监管政治作为案例,并使用截至 2018 年来自三个欧盟金融监管机构的近 200 名监管机构的独特数据集。我们首先描述了这些多重运动发生的程度,以及, 第二,我们解释了旋转门零运动和多次运动之间的区别。我们的核心论点是,以前在受监管行业(金融)的工作经验产生了宝贵的专业知识和网络联系,进而导致更多的流动。然而,在金融以外的行业的经验会削弱这种专业知识并放松网络联系,从而导致人员流动减少。我们的结果支持这些论点。我们还发现,从事多项工作的人并非从事金融业务(交易员或领先的销售或营销团队),而是在旋转门的两边都有职业,专注于法律、政策和政府事务。我们的核心论点是,以前在受监管行业(金融)的工作经验产生了宝贵的专业知识和网络联系,进而导致更多的流动。然而,在金融以外的行业的经验会削弱这种专业知识并放松网络联系,从而导致人员流动减少。我们的结果支持这些论点。我们还发现,从事多项工作的人并非从事金融业务(交易员或领先的销售或营销团队),而是在旋转门的两边都有职业,专注于法律、政策和政府事务。我们的核心论点是,以前在受监管行业(金融)的工作经验产生了宝贵的专业知识和网络联系,进而导致更多的流动。然而,在金融以外的行业的经验会削弱这种专业知识并放松网络联系,从而导致人员流动减少。我们的结果支持这些论点。我们还发现,从事多项工作的人并非从事金融业务(交易员或领先的销售或营销团队),而是在旋转门的两边都有职业,专注于法律、政策和政府事务。我们的结果支持这些论点。我们还发现,从事多项工作的人并非从事金融业务(交易员或领先的销售或营销团队),而是在旋转门的两边都有职业,专注于法律、政策和政府事务。我们的结果支持这些论点。我们还发现,从事多项工作的人并非从事金融业务(交易员或领先的销售或营销团队),而是在旋转门的两边都有职业,专注于法律、政策和政府事务。
更新日期:2021-06-30
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