Not only has credit card lending in Asia grown rapidly, but also several episodes of sharp booms and busts have been experienced, posing new risks to financial stability. Policymakers need to learn more about the risks arising from this type of consumer lending and respond with appropriate...

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...

Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...

This research studies the propensity of individuals to violate implications of expected utility maximization in allocating retirement savings within a compulsory de- �ned contribution retirement plan. The paper develops the implications and describes the construction and administration of a...

Retirement planning is often seen as a tool that may assist individuals to successfully accumulate retirement capital. However, the low level of ‘customization’ of the general information on retirement planning may prompt some individuals to oversimplify their approach to retirement savings...

Small and medium-sized enterprises (SMEs) are an important collective force in the Canadian economy, however the visibility and economic power of small businesses suffer due to their size and frequent turnover. When it comes to the issue of businesses being subject to occupational fraud, the...

The recent financial crisis has led many to question how well businesses deliver consumer financial services and how well regulatory institutions address problems in consumer financial markets. In response, the Obama administration proposed a new agency to oversee consumer financial services,...

Elective affinity seems to link reform of retirement, development of long-term investments and SRI next decades. They so suggest the possibility of an endogenous evolution of financial capitalism which would become more favourable to a long term perspective, without departing from the principle...

The purpose of this paper is to discuss a few issues related to how best to communicate uncertainty about projections of future pension benefits to members of DC plans, and especially to present a pension risk simulator developed by the Chilean regulator (Superintendencia de Pensiones, SP) that...

This research studies the propensity of individuals to violate implications of expected utility maximization in allocating retirement savings within a compulsory defined contribution retirement plan. The paper develops the implications and describes the construction and administration of a...