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Full-Text Articles in Business
The Stock Market Impact Of Government Interventions On Financial Services Industry Groups: Evidence From The 2007-2009 Crisis, Deborah Smith
The Stock Market Impact Of Government Interventions On Financial Services Industry Groups: Evidence From The 2007-2009 Crisis, Deborah Smith
Business Faculty Publications
We examine the market reaction and shift in risk from nine prominent government interventions in response to the crisis between February 2007 and July 2009 on four types of institutions: banks, savings and loan associations (S&Ls), insurance companies, and real estate investment trusts (REITs). Overall, with the exception of the Troubled Assets Repurchase Program (TARP), the interventions were wealth-decreasing and risk-increasing events for financial institutions. Leveraged firms and firms with higher trading volumes earn significantly lower abnormal returns. For both during- and post-crisis periods, larger firms experience increases in systematic risk; non-U.S. firms experience lower changes in systematic risk.
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 …