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Full-Text Articles in Law
Ruined In A Conventional Way: Responses To Credit Ratings' Role In Credit Crises, David J. Matthews
Ruined In A Conventional Way: Responses To Credit Ratings' Role In Credit Crises, David J. Matthews
Northwestern Journal of International Law & Business
In 2007, abuses in the U.S. mortgage industry precipitated a financial crisis that led regulators in the United States and in the European Union to reexamine credit rating agencies. Asset-backed securities bearing agency ratings helped spread the effects of the crisis to diverse institutional investors, including European banks. This article traces debt securities and ratings from the rise of the mortgage securitization industry to the European and U.S. responses following the 2007 meltdown and concludes that ratings-focused regulatory changes are only a first step in avoiding similar financial crises. The market incentives, risk misperception, and risk spreading that attend complex …
A Comparative Analysis Of Hedge Fund Regulation In The United States And Europe, George Sami
A Comparative Analysis Of Hedge Fund Regulation In The United States And Europe, George Sami
Northwestern Journal of International Law & Business
This comment will explore in depth the evolution of hedge fund regulation in the United States, and compare the current state of hedge fund regulation in the United States with that in Europe, specifically the United Kingdom, the European Union, and Germany. The comment is comprised of six sections. Section 11 provides an overview of hedge funds. Section III explores the evolution and current state of hedge fund regulation in the United States. Section IV provides an overview of the current regulatory framework of hedge funds in Europe, more specifically in the United Kingdom, the European Union, and Germany. Section …
Changing The Paradigm Of Stock Ownership From Concentrated Towards Dispersed Ownership: Evidence From Brazil And Consequences For Emerging Countries, Erica Gorga
Northwestern Journal of International Law & Business
This paper analyzes micro-level dynamics of changes in ownership structures. It investigates a unique event: changes in ownership patterns currently taking place in Brazil. It builds upon empiricalevidence to advance the theoretical understanding of how and why concentrated ownership structurescanchangetowardsdispersedownership. Commentators argue that the Brazilian capital markets are finally taking off.