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Baker Hughes: Greasing The Wheels In Kazakhstan (Fcpa Violations And Implementation Of A Corporate Ethics And Anti-Corruption Compliance Program, Mark Holtzblatt, Norbert Tschakert
Baker Hughes: Greasing The Wheels In Kazakhstan (Fcpa Violations And Implementation Of A Corporate Ethics And Anti-Corruption Compliance Program, Mark Holtzblatt, Norbert Tschakert
Business Faculty Publications
This case discusses the Foreign Corrupt Practices Act (FCPA) violations of Texas-based Baker Hughes, in connection with its oil service operations in Kazakhstan. You will assume the position of a newly assigned audit committee member who is trying to understand Baker Hughes’ FCPA violations related to its Kazakhstan operations. Your investigation will involve the examination of the SEC court complaint, press releases, government and company publications and 10-K annual reports. Baker Hughes’ FCPA experiences illustrate the corruption risks and difficulties that multinational corporations encounter in conducting international business. The subsequent creation of a new Baker Hughes Code of Conduct, FCPA …
Asset Pricing, Jump Risk, And China's B-Share Discount Puzzle, Haigang Zhou, John Qi Zhu
Asset Pricing, Jump Risk, And China's B-Share Discount Puzzle, Haigang Zhou, John Qi Zhu
Business Faculty Publications
This study examines whether differential systematic risks, along with other competing explanations, account for cross-sectional variations in B-share discounts in China, using both cross-sectional and panel data analysis. Results show strong evidence that variations in A-share systematic risks are positively related to variations in B-share discount after controlling for various competing explanations. No evidence shows a correlation between variations in B-share systematic risks and variations in B-share discounts. These findings survive various robustness checks. The study further decomposes total systematic risk into continuous and jump components. Regression results indicate that variations in B-share discounts are explained mostly by variations in …
Integrated Risk Study For Chinese Commercial Banks With Fuzzy Comprehensive Appraisal Method, Hongmei Li, Haigang Zhou
Integrated Risk Study For Chinese Commercial Banks With Fuzzy Comprehensive Appraisal Method, Hongmei Li, Haigang Zhou
Business Faculty Publications
The Basel Capital Accord II proposes that commercial banks should supervise not only credit risk but also market risk, liquidity risk and operational risk. Using the fuzzy comprehensive appraisal method based on the Basel Capital Accord II, this paper measures the integrated risk of Chinese commercial banks. Our results indicate that the average values of the four types of risks are higher than the integrated risk of the four risks, indicating an overestimated whole risk. Our results illustrate the importance of considering the correlation between the different risk sources in order to efficiently allocate financial resources.