Over the past 20 years, governments around the world have implemented strategies and targets to ensure that public services are efficient in the management of resources. In the United Kingdom this common agenda has led to the recent Police Reform Act 2002 in which consideration was given to how...

"Current research is beginning to question the role and effectiveness of traditional rules-based bank regulatory oversight in favor of incentive-compatible regulatory design and market discipline and, in particular, mandatory subordinated debt market discipline. However, research on the...