A high-quality and granular probability of default (PD) model is on many practical dimensions far superior to any categorical credit rating system. Business adoption of a PD model, however, needs to factor in the long-established business/regulatory conventions built around letter-based credit...

This article examines the governance model and the political economic considerations in the criminalisation trend of cryptocurrencies in China since 2017. Cryptocurrencies are completely banned for threats to the central bank and commercial bank-dominated sovereign monetary system and their...

The investor-state dispute settlement (ISDS) system is such a means to an end of further economic development and wider social political goals. With major protective provisions of expropriation against compensation, fair and equitable treatment, national treatment, most-favored-nation treatment,...

This article examines the potential of and limits to the use of machine learning for financial regulation. Ideally, if we could fully understand the financial system and agree on long- and short term regulation goals, we would be able to write code that carries out the computation that extracts...

The law should help shape the common knowledge of cryptocurrencies, align market expectations, avoid conflicts and reduce transaction costs. Cryptocurrencies can be owned and transferred as a special kind of property. This specialty results from the trust and credit that cryptocurrencies are...

Regulators have paid insufficient attention to the significance of standardized disclosure for stablecoins regulation. Information disclosure has long been considered a primary tool for consumer protection. Stablecoin issuers should disclose honestly and responsibly about the qualification of...

We examine how controlling owners' family considerations affect their new industry entry decisions in family business groups in emerging economies. Drawing on the socioemotional wealth (SEW) approach, we conceive the new industry entry decision as controlling owners' response to pursue various...