Purpose – The economic system is an expectation's feedback system, thus decisions made by economic agents are based on their expectations about the future state of the economy. These decisions affect actual realization of economic variables and this process leads to the new expectations. For a...

Purpose – The purpose of the papers included in this issue is to cover a broad range of contemporary issues in Chinese corporate financial management and therefore provide the readers with important insights into Chinese financial markets as well as the social and economic consequences of firm...

Mexico’s 1994 peso devaluation and ensuing crisis surprised the markets and caught international markets and many policy makers off‐guard. Some of the contributing factors were due to structural deficiencies and institutional rigidities, while others dealt with public policy issues. In...

Purpose – To introduce the Market in Financial Instruments Directive (MiFID). Design/methodology/approach – Provides a brief overview of the MiFID, how it widens the scope of business permitted under the “passport” regime, the types of financial institutions it covers, and the time frame...

Purpose – The purpose of this paper is to provide a comprehensive background on the recent legislative, regulatory, and prosecutorial scrutiny of mutual funds and underlying issues such as the level and transparency of fees and costs, distribution and sales practices, and fund governance....

Purpose – To provide a brief overview of US securities laws that apply to the marketing of hedge funds. Design/methodology/approach – Summarizes US securities offering rules, including Regulation S and Regulation D at the federal level, state securities laws, antifraud standards, and...

Purpose – The purpose of this summary is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in October, November, and December 2010. Design/methodology/approach – The paper provides excerpts from FINRA Regulatory...

Purpose – The purpose of this summary is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in January and February 2011. Design/methodology/approach – The paper provides excerpts from FINRA Regulatory Notice...

This paper provides an overview of the new Securities Law (“the Law”) of the People’s Republic of China, promulgated at the end of 1998. The analysis will be based on the objective of providing good quality control. The writer will ask whether the Law is sufficiently clear in setting up a...

Purpose – This paper inquires into the root causes of global imbalances from an international trade perspective. The purpose of the paper is to establish a conceptual framework that links financial market governance, international trade and financial market integration, and to derive...