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Full-Text Articles in Law
Corporate Governance Reform In A Time Of Crisis, Christopher M. Bruner
Corporate Governance Reform In A Time Of Crisis, Christopher M. Bruner
Scholarly Works
In this article I argue that crisis-driven corporate governance reform efforts in the United States and the United Kingdom that aim to empower shareholders are misguided, and offer an explanation of why policymakers in each country have reacted to the financial crisis as they have. I first discuss the risk incentives of shareholders and managers in financial firms, and examine how excessive leverage and risk-taking in pursuit of short-term returns for shareholders led to the crisis. I then describe the far greater power and centrality that U.K. shareholders have historically possessed relative to their U.S. counterparts, and explore historical and …
Fair Value Accounting: Friend Or Foe?, Ian E. Scott
Fair Value Accounting: Friend Or Foe?, Ian E. Scott
William & Mary Business Law Review
No abstract provided.
The (Not So) Great Depression Of The 21st Century And Its Impact On Brazil, Marcos A. P. Valadão, Ivo T. Gico
The (Not So) Great Depression Of The 21st Century And Its Impact On Brazil, Marcos A. P. Valadão, Ivo T. Gico
Ivo Teixeira Gico Jr.
At this point there are many papers discussing how the Great Depression of the 21st century came to be, its causes and the things that need to be changed in the world’s financial market in order to overcome and prevent it from happening again. We would like to contribute to the debate by sharing some of the experiences we had in our own country that may shed some light on how it really affected developing countries, especially Brazil. This is the main purpose of the present paper, to discuss how the sub-prime international crisis affected the Brazilian economy, the counter-cyclical …
Deregulation Pas De Deux: Dual Regulatory Classes Of Financial Institutions And The Path To Financial Crisis In Sweden And The United States, Erik F. Gerding
Deregulation Pas De Deux: Dual Regulatory Classes Of Financial Institutions And The Path To Financial Crisis In Sweden And The United States, Erik F. Gerding
Publications
This article presents the following model of two regulatory classes of financial institutions interacting in financial and political markets to spur deregulation and riskier lending and investment, which in turn contributes to the severity of a financial crisis: 1) Regulation creates two categories of financial institutions. The first class faces greater restrictions in lending or investment activities but enjoys regulatory subsidies, such as an explicit or implicit government guarantee, while the second class is more loosely regulated and can make riskier loans or investments and earn additional profits. 2) These additional profits leads to calls for deregulation to enable the …