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The attention for the governance of financial sector supervisors is of a recent date. The debate has risen to the fore as part of the wider discussion about the appropriate institutional organization of financial supervision and the drive for compliance with international best practices in the...
Persistent link: https://www.econbiz.de/10005018004
Corporate criminal liability legislation has been the subject of a widespread debate around the world in response to the financial scandals of the early 2000s. The existing legal regimes en- tail compliance requirements, such as internal monitoring mechanisms, with the aim of inducing firms to...
Persistent link: https://www.econbiz.de/10010593004
, die paritaetische Mitbestimmung abzuschaffen und auf eine Drittelbeteiligung zurueckzufuehren. Dieser Sachverhalt laesst … course of the codetermination debate of the 2000s, managers of large companies surprisingly made codetermination … interpretation, managers were reluctant to articulate publically their aversion to codetermination so as not to undermine cooperation …
Persistent link: https://www.econbiz.de/10010561585
While according to the so-called “Brussels-Frankfurt consensus” sound fiscal policies and structural reforms support each other, it is often claimed that the EU fiscal framework, by reducing the budgetary room of manoeuvre and the political capital of governments, may deter reforms. The aim...
Persistent link: https://www.econbiz.de/10005123588
The EU fiscal framework has often been criticized for neglecting a possible trade-off between short-term budgetary objectives and the implementation of reforms that could improve public finances in the long term This concern was reflected in the recent reform of the Stability and Growth Pact,...
Persistent link: https://www.econbiz.de/10005136743
Regulation is written with the intent of protecting the vulnerable. However, it can cause an undesirable result if written without understanding how the positive intent can have a negative impact. In its present form, the proposed Volcker Rule has the potential of expanding the liquidity crisis...
Persistent link: https://www.econbiz.de/10009372520
The intention of regulation is to protect the vulnerable. However, unintended results of regulation can cause the opposite occur. In its present form, the proposed Volcker Rule prohibits proprietary trading and has the potential of continuing the liquidity crisis that aided in the degradation of...
Persistent link: https://www.econbiz.de/10009401323
The rapid growth in Turkish credit card market brought together new issues. Card holders and consumer unions complain about the high interest rates, economists complain about the default rates and banks complain about the amnesties. After all of these complaints coinciding with the accelerating...
Persistent link: https://www.econbiz.de/10005836558
This paper surveys the formation and development of insurance business in Brazil. It describes its very first steps, from the colonial times and imperial era to recent events. Particular attention is given to regulatory changes, showing how they evolved in response to macroeconomic shocks that...
Persistent link: https://www.econbiz.de/10008530611
This paper is about using specific investments and secured debt to shield a firm from exploitation by a regulatory authority. It is shown that specific investments and secured debt constrain the regulatory authority in its choice of regime, by providing a credible threat of bankruptcy.
Persistent link: https://www.econbiz.de/10005749760