The working hypothesis of international financial regulation is that it should be globally harmonized. This paper contends, to the contrary, that we should be wary about the efficacy of global harmonization, and in particular, harmonization of systemic risk measurement and regulation. The thesis...

Entrepreneurial litigation is litigation in which the plaintiff's attorney functions as a risk-taking entrepreneur, financing, organizing, managing, and settling the litigation on behalf of numerous clients (who generally hold “negative value” claims), but with only modest oversight from the...

Globalization has precipitated movement of output and employment between regions. How similar are companies in different regions following this dramatic shift in economic activity? Corporate comparisons to test global convergence could be made along numerous dimensions. We look at firms along...

This paper investigates whether bond, issuer, industry and macro-specific variables account for the observed variation of credit spreads' changes of global shipping bond issues before and after the onset of the subprime financial crisis. Results show that conclusions as to the significant...

This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method,...

Today international society faces a challenge in addressing the global financial crises. Despites never-ending debating on the key causes of financial crises, it seems quite certain that there do exist a great deal of "uncertainty" in global financial market. Unlike risk, uncertainty cannot be...