board monitoring in mitigating information risk ex ante and controlling agency risk ex post, and they reward higher quality …

1990s crisis with the most recent distribution demonstrates the greatly elevated risk level prior to the 1990s crisis. …

selling activity before the 2008 short ban reflected financial companies’ risk exposures in the subprime crisis. The evidence … suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short … disciplining effects of investors and may also serve as a counterweight to any perceived macro or systemic risk reduction benefits …

Counterparty Clearing has become increasingly popular in Europe, not just in derivatives markets, where, due to the high risk …’s securities market infrastructure – clearing and settlement. Because of the importance of its role, a CCP must have sound risk … management. The CCP assumes responsibility in the aggregate and reallocates risk among participants. Moreover, if the CCP fails …