Governance And Control Of Financial Systems

Author : Gunilla Sundström,Erik Hollnagel
Publisher : CRC Press
Page : 216 pages
File Size : 55,9 Mb
Release : 2017-06-12
Category : Technology & Engineering
ISBN : 9781317126010

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Governance and Control of Financial Systems by Gunilla Sundström,Erik Hollnagel Pdf

The recent financial crisis has made it paramount for the financial services industry to find new perspectives to look at their industry and, most importantly, to gain a better understanding of how the global financial system can be made less vulnerable and more resilient. The primary objective of this book is to illustrate how the safety science of Resilience Engineering can help to gain a better understanding of what the financial services system is and how to improve governance and control of financial services systems by leveraging some of its key concepts. Resilience is the intrinsic ability of a system to adjust its functioning prior to, during, or following changes and disturbances, so that it can sustain required operations under both expected and unexpected conditions. This definition is focused on the ability to function, rather than just to be impervious to failure, and thereby bridges the traditional conflict between productivity and safety. The core concept of the book is that the behaviour of the financial services system is the result of the tight couplings among the humans, organizations and technologies that are necessary to provide complex financial functions such as the transfer of economic resources. It is a consequence of this perspective that the risks associated with these systems cannot be understood without considering the nature of these tight couplings. Adopting this perspective, the book is designed to provide some answers to the following key questions about the financial crisis: - What actually happened? - Why and how did it happen? - Could something similar happen again? How can we see that in time and how can we control it? - How can sustainable recovery of the global financial system be established? How can its resilience be improved?

Author : Kern Alexander,Rahul Dhumale,John Eatwell
Publisher : Oxford University Press on Demand
Page : 329 pages
File Size : 40,8 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780195166989

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Global Governance of Financial Systems by Kern Alexander,Rahul Dhumale,John Eatwell Pdf

The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance structure is necessary to have more efficient regulation of the international financial system.

Author : Morten Balling,Elizabeth Hennessy,Richard O'Brien
Publisher : Springer Science & Business Media
Page : 378 pages
File Size : 50,6 Mb
Release : 1998
Category : Business & Economics
ISBN : 0792348257

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Corporate Governance, Financial Markets and Global Convergence by Morten Balling,Elizabeth Hennessy,Richard O'Brien Pdf

The papers in this volume were presented in Budapest at the 20th Colloquium of the Société Universitaire Européenne de Recherches Financières (SUERF), arranged in association with the Robert Triffin-Szirák Foundation. Each paper deals with a different aspect of the characteristics of and trends in corporate governance. The three main topics are: Corporate governance of financial institutions; Corporate governance as exerted by financial institutions; Financial instutions as participants in the transfer of corporate governance. £/LIST£ The structure of financial markets and institutions has a significant impact on the ways in which the power to manage corporate resources is allocated. The relative roles of different types of owners and the legal framework within which they operate are currently in a state of flux throughout Europe. Financial integration in the European Union, the transition to open market economies in Central and Eastern Europe and privatization, have a profound effect on the behaviour and influence of different enterprises. This collection of papers demonstrates the range of aspects of corporate governance in a world characterized by rapid technological, political and institutional change which is currently concerning researchers and practitioners. The authors come from a wide number of countries and disciplines, and include people from leading banks and corporations, public officials and academics, providing different perspectives on corporate governance, financial markets and global convergence in eastern and western Europe. Their contributions will be of considerable interest to academics in the fields of finance and banking, monetary economics and macro-economics, and also to professionals in banks, securities houses, corporate treasuries, pension funds, consultancies, law firms, central banks and regulatory bodies.

Author : Jonas Abraham Akuffo
Publisher : Springer Nature
Page : 428 pages
File Size : 52,8 Mb
Release : 2021-01-06
Category : Business & Economics
ISBN : 9783030640460

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Corporate Governance and Accountability of Financial Institutions by Jonas Abraham Akuffo Pdf

The presence of sound corporate governance in a financial institution is important in maintaining the confidence of both the market and the public. The power that corporate governance holds over the success of some of the largest financial institutions in the world is not to be downplayed. This book methodically assesses the quality of corporate governance and mechanisms of accountability disclosures to various stakeholders. It is further intended to provide fresh insights into some specific corporate governance recommendations to help improve good governance in financial institutions, particularly in the United Kingdom and the EU but will also be applicable to other major economies. It explores what, when and how corporate governance has changed the financial institution functions and corporate executive behaviour by critically reviewing the pre- and post-financial crisis theoretical and empirical literature. Increasingly driven by the nature of complications, complexities and opacity in the operations of financial systems, corporate governance reporting plays an important role in the financial sector. It will provide insights into corporate governance disclosures over a long-term basis. This book should be a valuable asset to support the research of practitioners, students and all academics due to its stimulating and reflective insights into this fascinating topic.

Author : Robert E. Litan,Michael Pomerleano,Vasudevan Sundararajan
Publisher : Brookings Institution Press
Page : 474 pages
File Size : 49,8 Mb
Release : 2004-05-13
Category : Political Science
ISBN : 0815752903

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Financial Sector Governance by Robert E. Litan,Michael Pomerleano,Vasudevan Sundararajan Pdf

A financial system is only as strong as the governing practices and institutions of its participants. The challenge to build efficient and accountable financial institutions that promote confidence is a problem that private financial sector executives and policymakers confront together. In this context, Financial Sector Governance takes a clinical approach to addressing the challenges in emerging and developed markets in each industry: capital markets, private banks, state-owned banks, asset management companies, public pension funds, and mutual funds. It also explores the linkages between public and private sector governance, and the policy implications for strengthening both sides. Financial Sector Governance emerges from the fourth annual Financial Markets and Development conference, organized by the World Bank, the International Monetary Fund and the Brookings Institution, during which participants from the public and private financial sectors of emerging and developed markets contribute to an expanding dialogue addressing key policy concerns.

Author : Udaibir S. Das,Marc Quintyn,Kina Chenard
Publisher : International Monetary Fund
Page : 50 pages
File Size : 47,5 Mb
Release : 2004-05
Category : Business & Economics
ISBN : UCSD:31822032310591

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Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis by Udaibir S. Das,Marc Quintyn,Kina Chenard Pdf

This paper provides empirical evidence that the quality of regulatory governance-governance practices adopted by financial system regulators and supervisors-matters for financial system soundness. The paper constructs indices of financial system soundness and regulatory governance, based on country data collected from the Financial Sector Assessment Program (FSAP). Regression results indicate that regulatory governance has a significant influence on financial system soundness, along with variables reflecting macroeconomic conditions, the structure of the banking system, and the quality of political institutions and public sector governance. The results also indicate that good public sector governance amplifies the impact of regulatory governance on financial system soundness.

Author : Stijn Claessens
Publisher : World Bank Publications
Page : 48 pages
File Size : 48,8 Mb
Release : 2006
Category : Bank
ISBN : 8210379456XXX

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Current Challenges in Financial Regulation by Stijn Claessens Pdf

Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in specific groups of countries or globally. The objectives of this paper are twofold: to review current international thinking on what regulatory framework is needed to develop a financial sector that is stable, yet efficient, and provides proper access to households and firms; and to review the key experiences regarding international financial architecture initiatives, with a special focus on issues arising for developing countries. The paper outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization of rules-across products, within markets, and globally-and the adaptation and legitimacy of international standards to the circumstances facing developing countries. It concludes with some areas where more research would be useful.

Author : Christine A. Mallin
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 49,5 Mb
Release : 2016-05-27
Category : Business & Economics
ISBN : 9781784711795

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Handbook on Corporate Governance in Financial Institutions by Christine A. Mallin Pdf

The global financial crisis has led to more and more focus on corporate governance and financial institutions. There has been much coverage in the media about various corporate governance related issues in banks and other financial institutions, such as executive directors' remuneration and bankers' bonuses, board composition and board diversity. This engaging book, dedicated to the corporate governance of banks and other financial institutions, makes a timely and accessible contribution to the literature in this area. The chapters highlight many of the shortcomings of corporate governance which have led to financial scandals, whilst indicating areas where corporate governance can be strengthened and improved.

Author : William Sun,Jim Stewart,David Pollard
Publisher : Cambridge University Press
Page : 415 pages
File Size : 53,7 Mb
Release : 2011-07-21
Category : Business & Economics
ISBN : 9781139497237

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Corporate Governance and the Global Financial Crisis by William Sun,Jim Stewart,David Pollard Pdf

Over the last two decades there has been a notable increase in the number of corporate governance codes and principles, as well as a range of improvements in structures and mechanisms. Despite this, corporate governance failed to prevent a widespread default of fiduciary duties of corporate boards and managerial responsibilities in the finance industry, which contributed to the 2007–10 global financial crisis. This book brings together leading scholars from North America, Europe, Asia-Pacific and the Middle East to provide fresh and critical analytical insights on the systemic failures of corporate governance linked to the global financial crisis. Contributors draw from a range of disciplines to demonstrate the severe limitations of the dominant corporate governance framework and its associated market-oriented approach. They provide suggestions on how the governance problems could be tackled to prevent or mitigate any future financial crisis and explore new directions for post-crisis corporate governance research and reforms.

Author : Roy C. Smith,Professor of Finance and International Business Roy C Smith,Roy C. Smith 19..- (économiste),Ingo Walter,Seymour Milstein Professor of Finance Corporate Governance and Ethics Ingo Walter
Publisher : Oxford University Press on Demand
Page : 337 pages
File Size : 54,7 Mb
Release : 2006-01-12
Category : Business & Economics
ISBN : 9780195171679

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Governing the Modern Corporation by Roy C. Smith,Professor of Finance and International Business Roy C Smith,Roy C. Smith 19..- (économiste),Ingo Walter,Seymour Milstein Professor of Finance Corporate Governance and Ethics Ingo Walter Pdf

In this comprehensive analysis, the authors examine the structure of market capitalism to see what went wrong before and after the stock market burst in 2000. They find conflicts of interest to be heavily embedded in the system, and argue for a different approach to governance than federal regulation.

Author : Asl? Demirgüç-Kunt,Ross Levine
Publisher : World Bank Publications
Page : 73 pages
File Size : 47,9 Mb
Release : 1999
Category : Bancos
ISBN : 8210379456XXX

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Bank-based and Market-based Financial Systems by Asl? Demirgüç-Kunt,Ross Levine Pdf

Author : Adrian Docherty,Franck Viort
Publisher : John Wiley & Sons
Page : 566 pages
File Size : 52,6 Mb
Release : 2014-01-02
Category : Business & Economics
ISBN : 9781118651339

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Better Banking by Adrian Docherty,Franck Viort Pdf

Why did the financial crisis happen? Why did no one see it coming? And how did our banks lose so much of our money? What's being done to sort out the banking industry? And will it work? These are the questions that industry experts Adrian Docherty and Franck Viort cover in Better Banking: Understanding and Addressing the Failures in Risk Management, Governance and Regulation. They give a clear and thorough run-through of some of the key concepts and developments in banking, to enable the reader to understand better this vital yet perilous industry. Without excessive detail or jargon, they explain the most important issues in risk management, regulation and governance and build a comprehensive description of how failings in these areas resulted in the current financial crisis. In order to make the diagnosis clear, the authors illustrate their descriptions with a series of informative case studies. The book revolves around a critique of the current regulatory developments, which the authors feel will be ineffective in fixing the structural flaws in banking. Crucially, and as the title of the book suggests, they set out their own series of proposals to contribute to the development of a better, safer and more effective banking industry. Docherty and Viort's book fills an important gap in the literature on banking and its role in the current financial crisis. It is at once a history, a primer, a critique and a manifesto. It does not take sides but works through a constructive diagnosis towards ideas that could lead to major improvements in the quality and stability of the financial world. Better Banking: Understanding and Addressing the Failures in Risk Management, Governance and Regulation is a technical yet accessible book that seeks to engage interested readers of all kinds -- students, professionals, bankers and regulators but also politicians and the broader audience of citizens outside the banking industry, who are keen to inform themselves and understand what needs to be done to avoid a repeat of this crisis.

Author : Marijn van Daelen,Christoph van der Elst
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 49,7 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849807999

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Risk Management and Corporate Governance by Marijn van Daelen,Christoph van der Elst Pdf

In reaction to the recent financial crisis and corporate failures at the beginning of the millennium, the emphasis of the business community in corporate governance has shifted towards internal control and risk management issues. As a result, risk management discussion has reached an unprecedented level for academics and practitioners alike. This international, multidisciplinary book provides a comprehensive overview of the risk management landscape, encompassing its challenges and problems and taking stock of its influence on both companies and society as a whole. The eminent contributors review historical and current provisions relating to internal control and risk management in Europe and in the USA. They address the interconnected consequences of the necessity of risk management, and illustrate that a comprehensive approach needs to be further improved. The pros and cons of both the rule-based and the principle-based approaches are analysed, showing that the latter makes it more feasible for sound business practices to be combined with strategic company goals, and for the relationship between entrepreneurial risk taking and sound risk governance management to be in equilibrium. The book also presents a balanced supervision framework, which both promotes prevention of excessive risk taking and tackles risk failure.

Author : Alessandro Carretta,Gianluca Mattarocci
Publisher : Routledge
Page : 342 pages
File Size : 50,8 Mb
Release : 2013-05-07
Category : Business & Economics
ISBN : 9781136232237

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Financial Systems in Troubled Waters by Alessandro Carretta,Gianluca Mattarocci Pdf

This collection considers the financial crisis from a managerial perspective, focussing on the business implications for the financial industry. Topics examined include governance, information needs and strategy of financial intermediaries and investors. The contributions build on the existing literature and present some unique insights on governance, credit quality evaluation and performance measurement. In a fast growing or steady market, it is possible for even an inefficient financial system to satisfy investors’ and firms’ needs. However, the current financial crisis has brought into sharp relief the limits of the inefficient practices adopted by the market, and made clear the importance of developing more effective governance mechanisms, more detailed and complete information databases and new strategies. The crisis has also brought to the fore issues about the governance of financial intermediaries that had not been previously addressed. These include board diversity, internal monitoring procedures and the existence of interlocking directorates. More broadly, the financial crisis has radically altered the international framework, with an increasingly consolidated financial sector, and the rise of new markets (such as China) that now play a predominant role in the worldwide market. Studies on the competition and on the performance in this new scenario are essential in order to understand the implications of recent events.

Author : Thankom Arun,John Turner
Publisher : Edward Elgar Publishing
Page : 227 pages
File Size : 50,9 Mb
Release : 2009-01-01
Category : Business & Economics
ISBN : 9781848449022

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Corporate Governance and Development by Thankom Arun,John Turner Pdf

This book analyses the complex relationship between corporate governance and economic development by focusing on the reform of corporate governance, the role of the legal system, and the interconnections with the financial system. Corporate governance has a central role to play in helping to increase the flow and lower the cost of the financial capital that firms need to finance their investment activity. The importance of this role has grown considerably in recent years, and the findings of this book emphasize that the standard of corporate governance matters significantly for developing countries. The editors rediscover that improved corporate governance can contribute to sustained productivity growth and stability of institutions. This timely and insightful book offers a one-stop reference guide for practitioners, academics, researchers, donor agencies and those who are interested in understanding the multi-dimensional and interdisciplinary aspects of corporate governance.