Text presented at the 19ª Asamblea Anual del Grupo Regional de América Latina y el Caribe (GRULAC), of the World Savings Banks Institute, La Habana, Cuba, 4-5 November 2013. It mentions some of the more recent international reform initiatives in particular those linked to the Basel Committee...

In the past decades, the number of sources of pollution has increased and their consequences on the lives of humans, plants, and animals are ever more alarming. Numerous personalities in the entire world draw the attention on the present unprecedented aggression against the environment. Romania,...

Due to judicial decisions the stock market prices are deemed to be the lower value limit in determining the compensations within structural measures according to German stock corporation law (e.g. squeeze-out of minority stockholders). By applying other valuation methods, in particular the...

In the past twenty-five years, derivatives markets have grown exponentially. Large, modern derivatives markets increasingly enable investors to hold economic interests in corporations without owning voting rights, and vice versa. This leads to both empty voters — investors whose voting...

We investigate whether homeowners respond strategically to news of mortgage modification programs. We exploit plausibly exogenous variation in modification policy induced by settlement of U.S. state government lawsuits against Countrywide Financial Corporation, which agreed to offer...

This study investigates the governance attributes of firms that have been subject to securities class actions (SCAs). There has been a recent sizable increase in the number of firms subject to SCAs in Australia. We examine a sample of firms that have been subject to SCAs due to disclosure...

1997 végére Magyarországon nagyjából befejeződik a privatizáció. Ez nem jelenti azt, hogy minden eladható állami társaságot el is adnak, de azt igen, hogy a könnyen értékesíthetők addigra elfogynak. Ebben a helyzetben ismét felvetődik az a kérdés, hogy mi történjen a még...

Dolgozatunkban áttekintjük a reorganizációhoz és a felszámolási eljáráshoz kapcsolódó döntési folyamat jogi kereteinek egyes pontjait, illetve számba vesszük ezeknek az eljárásoknak a költségelemeit. Ehhez kapcsolódva kitérünk az átalakuló magyar gazdaságban követett...