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The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody
The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody
Scholarly Articles
This Article posits that the success of macroprudential regulation will depend on four factors. First, the economic philosophy of the central banker in charge of the domestic institution with jurisdiction over macroprudential regulation will prove crucial in the implementation of adopted regulation. If, like Chairman Greenspan, the banker is averse to the exercise of the Central Bank's regulatory oversight authority, then no amount or volume of policy or regulation will prevent or mitigate systemic risks and the accompanying shocks. Second, a sufficiently deep level of international cooperation is required to mitigate regulatory arbitrage, without being so broad that the ensuing …
Reforming The Global Value Chain Through Transnational Private Regulation, Kishanthi Parella
Reforming The Global Value Chain Through Transnational Private Regulation, Kishanthi Parella
Scholarly Articles
In many industries, corporations have changed the organization of their production from a vertically integrated model to a model that is often characterized by outsourcing-shifting business activities to external parties -and offshoring, where production occurs at sites overseas. The global value chain (GVC) for an American corporation often involves several tiers of suppliers. One end of the GVC is often occupied by a multinational buyer (MNB), such as a large brand name corporation. At the opposite end of the value chain are the factories, farms, and other production sites that supply multinational corporations with their goods. This organization of production …
Lessons From Institutional Shareholder Services: Governing Benefit Corporations' Third-Party Standard, Tammi S. Etheridge
Lessons From Institutional Shareholder Services: Governing Benefit Corporations' Third-Party Standard, Tammi S. Etheridge
Scholarly Articles
Third-party standard providers for benefit corporations will likely acquire the same level of success as Institutional Shareholder Services (ISS). Consequently, the public should be leery of encountering the same concerns, specifically, a lack of transparency, including undefined analytic models, inaccurate and incomplete information, and conflicts of interest. Going forward, the public should also be especially mindful of standard-providing organizations that also sell consulting services. As more states pass benefit corporation legislation, it is imperative that these issues be addressed and that solutions be proposed. Lax and uneven implementation of the third-party standard could mean that benefit corporation regulation, despite being …