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Risk monitoring tools in bank regulation and supervision – developments since the collapse of Barings Plc.
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
This paper consolidates the work of its predecessor, “International Framework for Liquidity Risk Measurement, Standards … essential if risks,(and in particular liquidity risks which are attributed to a bank), are to be managed and measured … only in relation to liquidity risks, but also to the rise of conglomerates and consolidated undertakings. It highlights …
Persistent link: https://www.econbiz.de/10008470455
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Local Ownership as Private Information: Evidence on the Monitoring-Liquidity Trade-Off
Gaspar, José-Miguel; Massa, Massimo - C.E.P.R. Discussion Papers - 2004
This Paper investigates the impact of ownership patterns on the way the firm is monitored, on the liquidity of its … selection discount required by less informed investors to trade, reducing the firm’s liquidity. Both effects are properly … prices, but the lower liquidity induced by their presence tends to reduce prices. …
Persistent link: https://www.econbiz.de/10005497985
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A tale of three countries, dispersed ownership and greater risk taking levels by management: risk monitoring tools in bank regulation and supervision – developments since the colla...
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2011
This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels – where there is scope for the abuse of powers. As well as illustrating why effective corporate governance systems are essential...
Persistent link: https://www.econbiz.de/10008805896
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International framework for liquidity risk measurement, standards and monitoring: corporate governance and internal controls
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
successful implementation of the (two fold) topics of discussion of this paper, namely, monitoring and liquidity risk …
Persistent link: https://www.econbiz.de/10008457200
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Cause and cure of the crisis
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2014
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...
Persistent link: https://www.econbiz.de/10011108214
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Does monetary policy matter for corporate governance? Firm-level evidence for India
Ghosh, Saibal; Sensarma, Rudra - Volkswirtschaftliche Fakultät, … - 2004
The paper assembles data on over 1,000 manufacturing and services firms in India for the entire post-reform period from 1992 through 2002 to examine the association between corporate governance and monetary policy. The findings suggests that (a) public firms are relatively more responsive to a...
Persistent link: https://www.econbiz.de/10008476391
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Structure versus Agency in the Great Deprivation of 21st Century
Naqvi, Nadeem - Volkswirtschaftliche Fakultät, … - 2009
Agency-based explanations of the great deprivation, contrasted with structure-based explanations, suffer not merely from the criticism of relying on irrational and irresponsible behavior of millions, including that of the most astute financial experts, but are also at a loss to explain why such...
Persistent link: https://www.econbiz.de/10005619598
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Liquidity and Inefficient Investment
Hart, Oliver; Zingales, Luigi - C.E.P.R. Discussion Papers - 2013
We study the role of fiscal policy in a complete markets model where the only friction is the non-pledgeability of human capital. We show that the competitive equilibrium is constrained inefficient, leading to too little risky investment. We also show that fiscal policy following a large...
Persistent link: https://www.econbiz.de/10011084716
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Central bank independence: monetary policies in selected jurisdictions (I)
Felix, Ayadi; Marianne, Ojo - Volkswirtschaftliche Fakultät, … - 2013
Even though the Congress and the Administration are responsible for determining fiscal policy measures, these measures impact the Fed Reserve's monetary policy decisons. The indirect effect of fiscal policy on the conduct of monetary policy through its influence on the overall economy and the...
Persistent link: https://www.econbiz.de/10011261038
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Indian G-Sec Market: How the Term Structure Reacts to Monetary Policy
Das, Rituparna - Volkswirtschaftliche Fakultät, … - 2009
(iv) existence of a fear among the market participants about the future liquidity conditions during the last quarter of …
Persistent link: https://www.econbiz.de/10005014959