Financial Gatekeepers

Author : Yasuyuki Fuchita,Robert E. Litan
Publisher : Brookings Institution Press
Page : 216 pages
File Size : 41,9 Mb
Release : 2007-02-01
Category : Business & Economics
ISBN : 9780815729822

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Financial Gatekeepers by Yasuyuki Fuchita,Robert E. Litan Pdf

Developed country capital markets have devised a set of institutions and actors to help provide investors with timely and accurate information they need to make informed investment decisions. These actors have become known as "financial gatekeepers" and include auditors, financial analysts, and credit rating agencies. Corporate financial reporting scandals in the United States and elsewhere in recent years, however, have called into question the sufficiency of the legal framework governing these gatekeepers. Policymakers have since responded by imposing a series of new obligations, restrictions, and punishments—all with the purpose of strengthening investor confidence in these important actors. F inancial Gatekeepers provides an in-depth look at these new frameworks, especially in the United States and Japan. How have they worked? Are further refinements appropriate? These are among the questions addressed in this timely and important volume. Contributors include Leslie Boni (University of New Mexico), Barry Bosworth (Brookings Institution), Tomoo Inoue (Seikei University), Zoe-Vonna Palmrose (University of Southern California), Frank Partnoy (University of San Diego School of Law), George Perry (Brookings Institution), Justin Pettit (UBS), Paul Stevens (Investment Company Institute), Peter Wallison (American Enterprise Institute)

Author : Sara Rich Dorman
Publisher : Routledge
Page : 223 pages
File Size : 48,6 Mb
Release : 2020-11-25
Category : Political Science
ISBN : 9781000708547

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Beyond the Gatekeeper State by Sara Rich Dorman Pdf

Beyond the Gatekeeper State explores the dynamic changes occurring within and between African states, and the international system since the turn of the century. Frederick Cooper’s model of ‘gatekeeper states’ – shaped as much by their international links as by their domestic practices – provides the basis for the contributors’ thinking about international relations in Africa and the wider international system. The chapters explore the political implications of Africa’s new relations with the old super-powers, former colonial powers, and the emerging powers from the South. These new relationships reflect and affect changing technology, infrastructure, and resource flows within and between African states. Drawing on both rich empirical cases and theoretical approaches, the book interrogates the implications of these changes on how we think about states and state systems. Exploring the impact of changing technology, finance, and resources on African politics, Beyond the Gatekeeper State will be of great interest to scholars of African Politics and International Relations (IR), as well as African Studies, IR, and the politics of the Global South more broadly. This book was originally published as a special issue of Third World Thematics.

Author : Sylvia Maxfield
Publisher : Princeton University Press
Page : 192 pages
File Size : 48,8 Mb
Release : 1998-07-13
Category : Business & Economics
ISBN : 9781400822287

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Gatekeepers of Growth by Sylvia Maxfield Pdf

Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.

Author : Sylvia Maxfield
Publisher : Princeton University Press
Page : 192 pages
File Size : 45,6 Mb
Release : 1998-07-13
Category : Business & Economics
ISBN : 9781400822287

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Gatekeepers of Growth by Sylvia Maxfield Pdf

Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.

Author : John C. Coffee Jr.
Publisher : OUP Oxford
Page : 398 pages
File Size : 40,8 Mb
Release : 2006-06-01
Category : Business & Economics
ISBN : 9780191516061

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Gatekeepers by John C. Coffee Jr. Pdf

In the wake of a series of corporate governance disasters in the US and Europe which have gained almost mythic status - Enron, WorldCom, Tyco, Adelphia, HealthSouth, Parmalat - one question has not yet been addressed. A number of 'gatekeeping' professions - auditors, attorneys, securities analysts, credit-rating agencies - exist to guard against these governance failures. Yet clearly these watchdogs did not bark while corporations were looted and destroyed. But why not? To answer these questions, a more detailed investigation is necessary that moves beyond journalism and easy scapegoating, and examines the evolution, responsibilities, and standards of these professions. John C. Coffee Jr, world-renowned Professor of Corporate Law, examines how these gatekeeping professions developed, to what degree they failed, and what reforms are feasible. Above all, this book examines the institutional changes and pressures that caused gatekeepers to underperform or neglect their responsibilities, and focuses on those feasible changes that can restore gatekeepers as the loyal agents of investors. This informed and readable view of the players on the contemporary business stage will be essential reading for investors, professionals, executives and business academics concerned with issues of good governance.

Author : David Hurtt
Publisher : Unknown
Page : 19 pages
File Size : 51,8 Mb
Release : 2015
Category : Electronic
ISBN : OCLC:1308389196

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The Gatekeepers by David Hurtt Pdf

This case provides an opportunity for you to make accounting allocation choices, justify those choices, and subsequently consider the ramifications of those choices. Two different scenarios - one in the academic setting and one in the business setting - examine the incentives and reporting issues faced by managers and accountants - the gatekeepers in these reporting environments. For each scenario, you will read the case materials, related tables, and then answer the Questions for Analysis. Each scenario presents you with an allocation task. In the first scenario, you will need to assess group members' contributions to a project and allocate points across the group. These point allocations contribute to the determination of individual group members' grades. The second scenario is also an allocation task but in a business setting, specifically the segment reporting environment. Here the task is to allocate common costs across reporting segments. For advanced reading, you will want to consider Accounting Standards Codification (ASC) topic 820 which addresses segment reporting, as this can help guide you in the degree of flexibility, if any, allowed in determining how to allocate costs.

Author : Chris Whipple
Publisher : Crown Publishing Group (NY)
Page : 386 pages
File Size : 44,9 Mb
Release : 2017
Category : Biography & Autobiography
ISBN : 9780804138246

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The Gatekeepers by Chris Whipple Pdf

"The first in-depth, behind-the-scenes look at the White House Chiefs of Staff, whose actions--and inactions--have defined the course of our country. Since George Washington, presidents have depended on the advice of key confidants. But it wasn't until the twentieth century that the White House chief of staff became the second most powerful job in government. Unelected and unconfirmed, the chief serves at the whim of the president, hired and fired by him alone. He is the president's closest adviser and the person he depends on to execute his agenda. He decides who gets to see the president, negotiates with Congress, and--most crucially--enjoys unparalleled access to the leader of the free world. When the president makes a life-and-death decision, often the chief of staff is the only other person in the room. Each chief can make or break an administration, and each president reveals himself by the chief he picks. Through extensive, intimate interviews with all seventeen living chiefs and two former presidents, award-winning journalist and producer Chris Whipple pulls back the curtain on this unique fraternity, whose members have included Rahm Emanuel, Dick Cheney, Leon Panetta, and Donald Rumsfeld. In doing so, he revises our understanding of presidential history, showing us how James Baker and Panetta skillfully managed the presidencies of Ronald Reagan and Bill Clinton, ensuring their reelections--and, conversely, how Jimmy Carter never understood the importance of a chief, crippling his ability to govern. From Watergate to Iran-Contra to the Monica Lewinsky scandal to the Iraq War, Whipple shows us how the chief of staff can make the difference between success and disaster. As an outsider president tries to govern after a bitterly divisive election, The Gatekeepers could not be more timely. Filled with shrewd analysis and never-before-reported details, it is a compelling history that changes our perspective on the presidency."--Jacket flap.

Author : Niamh Moloney,Eilís Ferran,Jennifer Payne
Publisher : OUP Oxford
Page : 900 pages
File Size : 46,9 Mb
Release : 2015-08-27
Category : Law
ISBN : 9780191510878

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The Oxford Handbook of Financial Regulation by Niamh Moloney,Eilís Ferran,Jennifer Payne Pdf

The financial system and its regulation have undergone exponential growth and dramatic reform over the last thirty years. This period has witnessed major developments in the nature and intensity of financial markets, as well as repeated cycles of regulatory reform and development, often linked to crisis conditions. The recent financial crisis has led to unparalleled interest in financial regulation from policymakers, economists, legal practitioners, and the academic community, and has prompted large-scale regulatory reform. The Oxford Handbook of Financial Regulation is the first comprehensive, authoritative, and state of the art account of the nature of financial regulation. Written by an international team of leading scholars in the field, it takes a contextual and comparative approach to examine scholarly, policy, and regulatory developments in the past three decades. The first three parts of the Handbook address the underpinning horizontal themes which arise in financial regulation: financial systems and regulation; the organization of financial system regulation, including regional examples from the EU and the US; and the delivery of outcomes and regulatory techniques. The final three Parts address the perennial objectives of financial regulation, widely regarded as the anchors of financial regulation internationally: financial stability, market efficiency, integrity, and transparency; and consumer protection. The Oxford Handbook of Financial Regulation is an invaluable resource for scholars and students of financial regulation, economists, policy-makers and regulators.

Author : David Hurtt,Bradley Lail,Michael Robinson,Martin Stuebs
Publisher : Unknown
Page : 128 pages
File Size : 50,7 Mb
Release : 2017
Category : Accounting
ISBN : 1526426404

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The Gatekeepers by David Hurtt,Bradley Lail,Michael Robinson,Martin Stuebs Pdf

This case challenges students’ ability to justify difficult accounting choices and subsequently consider the ramifications of those choices. We provide two different scenarios that examine the responsibilities, incentives, and issues faced by accountants—the gatekeepers in many reporting environments. The first scenario is a familiar academic reporting task in which students assess group performance and allocate points to members. The second is a similar task within the segment reporting environment in which costs are allocated to the reporting units. A summary exercise then requires students to link these scenarios. The open-ended nature of the case allows its use in multiple courses and at various levels of accounting education. Ultimately, the case will encourage students to behave more like managers, make tough choices where guidelines are vague, and assess the consequences of their actions.

Author : P. Dembinski,C. Lager,A. Cornford,J. Bonvin
Publisher : Springer
Page : 257 pages
File Size : 40,8 Mb
Release : 2005-12-16
Category : Business & Economics
ISBN : 9780230518865

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Enron and World Finance by P. Dembinski,C. Lager,A. Cornford,J. Bonvin Pdf

Four years after the debacle, the term 'Enron' has earned its place in the everyday vocabulary of business ethics. Hardly anyone understands the business intricacies of what really happened with the sophisticated energy conglomerate. Even fewer are those able to envision, beyond the business case, the ethical questions and dilemmas facing actors at any one stage of the drama. Using the collapse of Enron as a case study, this book not only shows how and where ethics came into play, but also draws lessons and discusses possible remedies that may prevent the whole financial system from falling apart as a result of either excessive greed or over-regulation.

Author : Ahmed Naciri
Publisher : Routledge
Page : 221 pages
File Size : 48,8 Mb
Release : 2015-01-30
Category : Business & Economics
ISBN : 9781317634355

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Credit Rating Governance by Ahmed Naciri Pdf

Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country. This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements. This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.

Author : G. Kaufman,R. Bliss
Publisher : Springer
Page : 459 pages
File Size : 47,8 Mb
Release : 2009-10-26
Category : Business & Economics
ISBN : 9780230103245

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Financial Institutions and Markets by G. Kaufman,R. Bliss Pdf

This book is a collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in the United States and globally.

Author : Robert W. Kolb
Publisher : Oxford University Press
Page : 424 pages
File Size : 49,9 Mb
Release : 2011-01-28
Category : Business & Economics
ISBN : 9780199781300

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The Financial Crisis of Our Time by Robert W. Kolb Pdf

In 2006 residential real estate prices peaked and started to fall, then threatened the world's financial institutions in 2007, and confronted the global economy with disaster in 2008. In the past few years, millions of people have lost very substantial portions of their wealth. And while the markets have rebounded considerably, they are still far from a full recovery. Now, professional economists, policy experts, public intellectuals, and the public at large are all struggling to understand the crisis that has engulfed us. In The Financial Crisis of Our Time, Robert W. Kolb provides an essential, comprehensive review of the context within which these events unfolded, arguing that while the crisis had no single cause, housing finance played a central role, and that to understand what happened, one must comprehend the mechanism by which the housing industry came into crisis. Kolb offers a history of the housing finance system as it developed throughout the twentieth century, and especially in the period from 1990 to 2006, showing how the originate-to-distribute model of mortgage financing presented market participants with a "clockwork of perverse incentives." In this system, various participants-simply by pursuing their narrow personal interests-participated in an elaborate mechanism that led to disaster. The book then gives a narrative of the crisis as it developed and analyzes all of the participants in the housing market, from the home buyers to investors in collaterialized debt obligations (CDOs). At each step, the book explains in a nontechnical manner the essential relationships among the market participants and zeroes in on the incentives facing each party. The book also includes an extensive glossary and a detailed, authoritative timeline of the subprime financial crisis. Offering a unique look at the participants and incentives within the housing finance industry and its role in the biggest financial catastrophe in recent history, Robert W. Kolb provides one of the most comprehensive and illuminating accounts of the events that will be studied for decades to come as the financial crisis of our time.

Author : Anonim
Publisher : CEPR
Page : 194 pages
File Size : 41,9 Mb
Release : 2024-07-01
Category : Electronic
ISBN : 9781907142000

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Macroeconomic Stability and Financial Regulation: Key Issues for the G20 by Anonim Pdf

Author : A.G. Malliaris,Leslie Shaw,Hersh Shefrin
Publisher : Oxford University Press
Page : 400 pages
File Size : 48,8 Mb
Release : 2016-09-06
Category : Political Science
ISBN : 9780199386246

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The Global Financial Crisis and Its Aftermath by A.G. Malliaris,Leslie Shaw,Hersh Shefrin Pdf

In The Global Financial Crisis, contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses---economic, psychological, and social values. Contributors offer a constructive methodology suitable for exploring financial crises. They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises. So, they search more extensively within the broader discipline of economics for ideas related to crises but neglected perhaps because they were not mathematically rigorous. They affirm that the complexity of financial crises necessitates complementary research. Thus, to put the focal purpose of this book differently, they explore the Global Financial Crisis from three interconnected frameworks: the standards of orthodox economic analysis, Minskyan economics, and the role of ideas and values in economics. Values are the subject of both philosophy and psychology and can contribute to a better understanding of the Global Financial Crisis. Values, in general, have been relatively neglected by economists. This is not because there is doubt about their significance, but rather because welfare economics and collective choice still operate within the neoclassical paradigm. This volume argues that analyzing the value implications requires moving from the neoclassical framework to something that is broader and multidisciplinary.