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Forms and paradoxes of principles-based regulation

Black, Julia - London School of Economics (LSE) - 2008

Principles-based regulation is high on the regulatory agenda in a number of regulatory domains, most particularly financial regulation. Its supporters argue that it provides a flexible regulatory regime which can facilitate innovation; its detractors argue that it is simply lax regulation. This...

Persistent link: https://www.econbiz.de/10010745006

The inherent limits of ‘legal devices’: lessons for the public sector's central counterparty prescription for the OTC derivatives markets

Braithwaite, Jo - London School of Economics (LSE) - 2011

In the wake of the financial crisis considerable momentum has built up behind proposals to extend central counterparty (CCP) clearing in the over-the-counter derivatives markets. However, implementation is proving complex. This paper argues that one cause of this complexity is that the public...

Persistent link: https://www.econbiz.de/10010745410

The Anglo-Saxon market for corporate control, the financial system and international competitiveness: notes for the Notre Dame conference on "strengthening U.S. competitiveness"

Singh, Ajit - Volkswirtschaftliche Fakultät, … - 1993

. The two countries share a broadly common framework of corporate law and possess the most advanced and complete stock … markets in the world. As far as the corporate sector is concerned, in both countries, the financial system is more or less … similar, being dominated by the stock market and a vigorously functioning market for corporate control. In principle, the …

Persistent link: https://www.econbiz.de/10011109519

Internal finance and corporate investment: Belgian evidence with panel data

Barran, Fernando; Peeters, Marga - Volkswirtschaftliche Fakultät, … - 1998

In this paper the corporate investment decision under financial restrictions is investigated with Belgian firm data … source of corporate investment in Belgium since 1986. The estimation results show the dependence of corporate investment on …

Persistent link: https://www.econbiz.de/10008836729

The geography of capital allocation in the euro area

Beck, Roland; Coppola, Antonio; Lewis, Angus; Maggiori, … - 2024

We assess Euro Area financial integration correcting for the role of "onshore offshore financial centers" (OOFCs) within the Euro Area. The OOFCs of Luxembourg, Ireland, and the Netherlands serve dual roles as both hubs of investment fund intermediation and centers of securities issuance by...

Persistent link: https://www.econbiz.de/10015199447

Ecosystem Services Valuation for supporting Sustainable Life Below Water

Koundouri, Phoebe; Halkos, George; Landis, Conrad; … - 2023

The significance of the SDGs lies in their holistic, global and interdisciplinary nature. But this nature at the same time poses significant challenges, as it is difficult to bridge the environmental with the socio-economic aspects of SDGs, in theory, practical application and policymaking....

Persistent link: https://www.econbiz.de/10015214132

Foreign Currency Exposure and Hedging: Evidence from Foreign Acquisitions

Bartram, Söhnke M.; Burns, Natasha; Helwege, Jean - 2007

Previous research on the impact of currency risk on stock returns has failed to find a significant role for foreign exchange rates. This paper addresses several explanations of this finding with a unique dataset of U.S. firms that acquire targets in other countries. The dataset allows estimation...

Persistent link: https://www.econbiz.de/10015215425

Resolving the Exposure Puzzle: The Many Facets of Exchange Rate Exposure

Bartram, Söhnke M.; Brown, Gregory W.; Minton, Bernadette - 2009

Theory predicts sizeable exchange rate (FX) exposure for many firms. However, empirical research has not documented such exposures. To examine this discrepancy, we extend prior theoretical results to model a global firm’s FX exposure and show empirically that firms pass through part of...

Persistent link: https://www.econbiz.de/10015216056

Corporate Hedging and Shareholder Value

Aretz, Kevin; Bartram, Söhnke M. - 2009

According to financial theory, corporate hedging can increase shareholder value in the presence of capital market …

Persistent link: https://www.econbiz.de/10015216079

No Place To Hide: The Global Crisis in Equity Markets in 2008/09

Bartram, Söhnke M.; Bodnar, Gordon M. - 2009

This paper provides a broad analysis of the effect of the current financial crisis on global equity markets and their major components. We also examine the magnitude of the crisis in terms of value destruction in comparison to other market crashes. In brief, upon looking at return performance...

Persistent link: https://www.econbiz.de/10015217407