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Efficient Markets and the Law: A Predictable Past and an Uncertain Future
Hu, Henry T.C. - In: Annual Review of Financial Economics 4 (2012) 1, pp. 179-214
This article analyzes the manifold situations in which the efficient-market hypothesis (EMH) has influenced—or has failed to influence—federal securities regulation and state corporate law, and the prospective roles for the EMH in these contexts. In federal securities regulation, the EMH has...
Persistent link: https://www.econbiz.de/10010603964
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The Failure of Northern Rock - A Multidimensional Case Study
Eisenbeis, Robert Allen; Taylor, Michael William; … - SUERF - The European Money and Finance Forum
In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a … particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a … outside the bank as depositors rushed to withdraw their deposits. There was always a fear that this could spark a systemic run …
Persistent link: https://www.econbiz.de/10004982519
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The Chrysler effect: The impact of government intervention on borrowing costs
Anginer, Deniz; Warburton, A. Joseph - In: Journal of Banking & Finance 40 (2014) C, pp. 62-79
This paper studies intercreditor conflict arising from political interference in the bankruptcy process. The U.S. government’s intervention in the 2009 reorganizations of Chrysler and GM purportedly elevated claims of the auto union over those of the automakers’ senior creditors in violation...
Persistent link: https://www.econbiz.de/10010738304
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Third-country relations in the directive establishing a framework for the recovery and resolution of credit institutions
Nieto, María J. - Banco de España - 2014
States and third-country resolution authorities in the context of the 2014 Bank Recovery and Resolution Directive. The …
Persistent link: https://www.econbiz.de/10010862258
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THE CONCEPTUAL FOUNDATIONS, PRINCIPLES AND CRITERIA FOR STABILITY OF BANKS IN THE CONTEXT OF THEIR FINANCIAL SECURITY
MĂRGINEANU, Dina - In: ECONOMY AND SOCIOLOGY: Theoretical and Scientifical Journal (2014) 1, pp. 148-154
Financial systems in our contemporary stage undergo significant changes, but in fact as economy in general, due to a number of factors among which we can mention: technological and financial innovations, intense liberalization of both the real and financial flows, intensification of the process...
Persistent link: https://www.econbiz.de/10011007640
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Concocting Marketable Cocos
Furstenberg, George M. von - Hong Kong Institute for Monetary Research (HKIMR), … - 2011
Adding contingently convertible debt securities, cocos, in an amount equal to about 3% of tangible assets to the financing mix of financial institutions is a promising reform idea. It would also be inexpensive for these institutions to issue cocos and thus to be prepared to recapitalize and to...
Persistent link: https://www.econbiz.de/10009207347
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Probleme des Insolvenzplanverfahrens
Henselmann, Klaus; Gutbier, Manuel - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2010
The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are not used very much. Reasons that prevent their application and possibilities for their promotion are discussed.
Persistent link: https://www.econbiz.de/10008479035
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Responding to the Global Financial and Economic Crisis: Meeting the Challenges in Asia
Schou-Zibell, Lotte; Arner, Douglas - Office of Regional Economic Integration, Asian … - 2010
Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...
Persistent link: https://www.econbiz.de/10008690118
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Rescate y costos del riesgo financiero
Estrada, Fernando - Volkswirtschaftliche Fakultät, … - 2014
First externalities risk due to the size of the companies or the principle that large companies are also at risk of bankruptcy (too big to fail) are examined. The problem is illustrated by a case in which extreme risks with negative consequences for savers and investors are taken. If we...
Persistent link: https://www.econbiz.de/10011110979
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Financial Stability, Monetary Policy, Banking Supervision, and Central Banking
Hellwig, Martin F. - Max-Planck-Institut zur Erforschung von … - 2014
since its creation, the systematic treatment contains four parts, first a systematic discussion of how a central bank … central bank decision making in an environment in which financial stability is an essential precondition for reaching the … central bank’s macroeconomic objective, e.g. price stability; finally, a discussion of the challenges for institution design …
Persistent link: https://www.econbiz.de/10010815920