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When things go wrong, it is always good to find someone to blame. As the credit crisis started to unfold in 2007, credit rating agencies (“CRAs”) emerged as the villain – or scapegoat, one might say – for commentators and regulators alike. To sum up, observers accused CRAs of doing a...
Persistent link: https://www.econbiz.de/10013120955
The working hypothesis of international financial regulation is that it should be globally harmonized. This paper … of systemic risk measurement and regulation. The thesis is informed by what I consider two key lessons from the recent … global financial crisis. The first lesson is that, when business strategies that internationally-harmonized regulation …
Persistent link: https://www.econbiz.de/10012896449
. Yet, most of the existing rules in financial regulation are still “atomistic,” in that they fail to incorporate the fact …
Persistent link: https://www.econbiz.de/10012867572
. Yet, most of the existing rules in financial regulation are still “atomistic,” in that they fail to incorporate the fact …
Persistent link: https://www.econbiz.de/10012870636
Persistent link: https://www.econbiz.de/10013023742
The Dodd-Frank Act, enacted after the global financial crisis, requires U.S. financial regulators to define and regulate systemically risky firms and activities — a truly Sisyphean task. In this Essay, we identify two paths regulators have taken: a “descriptive approach,” which involves...
Persistent link: https://www.econbiz.de/10013011346
Online trading platforms and internet communities facilitate access to financial markets and let investors reduce transaction and coordination costs. In this way: (1) they permit many people to be directed towards a single goal, but, at the same time, (2) they allow operations aimed at...
Persistent link: https://www.econbiz.de/10012587732
The issue of appropriate corporate governance framework has been a focal point of recent reforms in many countries. This study provides a comprehensive comparative analysis of corporate governance regulatory systems and their evolution over the last 15 years in 30 European countries and the US....
Persistent link: https://www.econbiz.de/10013147498
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