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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
successful implementation of the (two fold) topics of discussion of this paper, namely, monitoring and liquidity risk …
Persistent link: https://www.econbiz.de/10008457200
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
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
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
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
A sufficient and appropriate degree of central bank independence is widely acknowledged to be necessary for the goal of achieving price stability. However, despite the levels of independence claimed to be enjoyed by several central banks, recent events indicate shifts in focus of monetary policy...
Persistent link: https://www.econbiz.de/10011257824
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
credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets …
Persistent link: https://www.econbiz.de/10008679927
Rescue cases involving guarantees (contrasted with restructuring cases) during the recent Financial Crisis, have illustrated the prominent position which the goal of promoting financial stability has assumed over that of the prevention or limitation of possible distortions of competition which...
Persistent link: https://www.econbiz.de/10008693548