Open Access. Powered by Scholars. Published by Universities.®

Business Commons

Open Access. Powered by Scholars. Published by Universities.®

Finance and Financial Management

Series

2014

Institution
Keyword
Publication

Articles 181 - 183 of 183

Full-Text Articles in Business

Transnational Regulatory Regimes In Finance: A Comparative Analysis Of Their (Dis-)Integrative Effects, Katharina Pistor Jan 2014

Transnational Regulatory Regimes In Finance: A Comparative Analysis Of Their (Dis-)Integrative Effects, Katharina Pistor

Faculty Scholarship

Financial markets have become increasingly interconnected with financial intermediaries and instruments linking local and national markets to form regional or even global ones. The global financial crisis of 2008 demonstrated once more that financial interdependence can be both a blessing and a curse. It facilitates the movement of capital and the expansion of credit, and as such promotes economic development in good times; however, in bad times it transmits liquidity shortages throughout the system triggering financial crises and economic recessions where credit expansion earlier fuelled expansion and growth. A critical question therefore is how to structure the governance of transnational …


Sox, Corporate Transparency, And The Cost Of Debt, Sandro Andrade, Gennaro Bernile, Frederick Hood Jan 2014

Sox, Corporate Transparency, And The Cost Of Debt, Sandro Andrade, Gennaro Bernile, Frederick Hood

Research Collection Lee Kong Chian School Of Business

We investigate the impact of the Sarbanes–Oxley (SOX) Act on the cost of debt through its effect on the reliability of financial reporting. Using Credit Default Swap (CDS) spreads and a structural CDS pricing model, we calibrate a firm-level corporate opacity parameter in the pre- and post-SOX periods. Our analysis shows that corporate opacity and the cost of debt decrease significantly after SOX. The median firm in our sample experiences an 18 bp reduction on its five-year CDS spread as a result of lower opacity following SOX, amounting to total annual savings of $ 844 million for the 252 firms …


Bank Valuation In Malaysia: An Empirical Comparison Of Conventional And Interest-Free (Islamic) Banking Models, Charlie Charoenwong, Ramin Cooper Maysami, David K. Ding Jan 2014

Bank Valuation In Malaysia: An Empirical Comparison Of Conventional And Interest-Free (Islamic) Banking Models, Charlie Charoenwong, Ramin Cooper Maysami, David K. Ding

Research Collection Lee Kong Chian School Of Business

Islamic banking, according to institute for Islamic Banking and Insurance "refers to a system of banking or banking activity that is consistent with the principles of the Shari'ah (Islamic rulings) and its practical application through the development of Islamic economics. Shari'ah prohibits the payment or acceptance of interest charges (riba) for the lending and accepting of money, as well as carrying out trade and other activities that provide goods or services considered contrary to its principles." The thrust of the current article is to examine the underlying factors and variables that guide the valuation of a sample of five Malaysian …