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Purpose - The need for robust governance standards in financial institutions requires no overemphasis. However …, instances of governance failures have been a recurring global phenomenon. This paper examines the key elements of governance in … financial institutions, evaluates reasons for failures and suggests ways to strengthen governance and prevent such failures …
Persistent link: https://www.econbiz.de/10014449757
We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...
Persistent link: https://www.econbiz.de/10013091649
Capital Requirements Directive (CRD IV), tackles, amongst other things, the perceived pre-crisis failings in the governance of …
Persistent link: https://www.econbiz.de/10013056692
This paper describes how behavioral elements are relevant to financial supervision,regulation, and central banking. It focuses on (1) behavioral effects of norms (social, legal,and market); (2) behavior of others (internalization, identification, and compliance); and(3) psychological biases. It...
Persistent link: https://www.econbiz.de/10012912488
in the late 1930s had any substantial interest in the governance or control of their portfolio companies. This paper also …
Persistent link: https://www.econbiz.de/10013093864
There was a systemic failure of financial regulation: senior policymakers repeatedly enacted and implemented policies that destabilised the global financial system. They maintained these policies even as they learned of the consequences of their policies during the decade before the crisis. The...
Persistent link: https://www.econbiz.de/10013094089
This study analyzes the interaction of agency problems in public policy and of agency problems inside the firm: it investigates the case of a large privatized firm subject to many policy constraints. The last steps of Telefonica's privatization were designed to promote a disperse ownership and...
Persistent link: https://www.econbiz.de/10005413213
This paper examines the relationship between acquirer size, sovereign governance, and value-creation in acquisitions … primarily from agency and entrenchment problems. However, in weak governance environments, size might have off-setting benefits … magnitude in weak governance markets. Compared with larger acquirers in strong governance countries, large acquirers in weak …
Persistent link: https://www.econbiz.de/10010776950
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10011335544
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10011601260