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Full-Text Articles in Business

The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith Dec 2018

The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran Dec 2018

Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


The Observer Effect And U.S. Accounting Rules, Thomas A. King Dec 2018

The Observer Effect And U.S. Accounting Rules, Thomas A. King

Engaged Management ReView

This inductive study evaluates how accounting rules promulgated by U.S. standard setters evolved over a century. Archival data viewed through the lens of the observer effect -- where the act of observation influences the subject -- reveals long-term patterns of behavior. Interaction of rule makers and followers suggests three generalizations: rule sets grow, codification accelerates rule set growth, and interaction between regulators and those who are regulated confounds predictions about possible consequences of new rules. In other words, this system has never reached equilibrium despite one hundred years of effort to constrain behavior. As unchecked rule growth risks costly compliance …


Education, Not Restriction, Is Key To Reducing Harm From Offshore Gambling, Sally Gainsbury, Alex Blaszczynski, Brett Abarbanel Aug 2018

Education, Not Restriction, Is Key To Reducing Harm From Offshore Gambling, Sally Gainsbury, Alex Blaszczynski, Brett Abarbanel

College of Hospitality Faculty Research

Australian internet gambling policies have been refined and prohibitions on illegal gambling sites clarified in recent years. These offshore sites not only pose potential harm to consumers in the form of fraudulent and deceptive dealings, but also have long-term consequences through reducing the tax dollars generated by the licensed market. Our research takes a closer look at why gamblers use offshore sites, and the implications of this for policymaking.


Regulation And The Marginalist Revolution, Herbert J. Hovenkamp May 2018

Regulation And The Marginalist Revolution, Herbert J. Hovenkamp

All Faculty Scholarship

The marginalist revolution in economics became the foundation for the modern regulatory State with its “mixed” economy. Marginalism, whose development defines the boundary between classical political economy and neoclassical economics, completely overturned economists’ theory of value. It developed in the late nineteenth century in England, the Continent and the United States. For the classical political economists, value was a function of past averages. One good example is the wage-fund theory, which saw the optimal rate of wages as a function of the firm’s ability to save from previous profits. Another is the theory of corporate finance, which assessed a corporation’s …


Competing On Speed, Emiliano Sebastian Pagnotta, Thomas Philippon May 2018

Competing On Speed, Emiliano Sebastian Pagnotta, Thomas Philippon

Research Collection Lee Kong Chian School Of Business

We analyze trading speed and fragmentation in asset markets. In our model, trading venues make technological investments and compete for investors who choose where and how much to trade. Faster venues charge higher fees and attract speed-sensitive investors. Competition among venues increases investor participation, trading volume, and allocative efficiency, but entry and fragmentation can be excessive, and speeds are generically inefficient. Regulations that protect transaction prices (e.g., Securities and Exchange Commission trade-through rule) lead to greater fragmentation. Our model sheds light on the experience of European and U.S. markets since the implementation of Markets in Financial Instruments Directive and Regulation …


Asset Prices And The Financial Crisis Of 2007-2009: Overview Of Theories And Policies, Anastasios G. Malliaris, Daniels Hayford Feb 2018

Asset Prices And The Financial Crisis Of 2007-2009: Overview Of Theories And Policies, Anastasios G. Malliaris, Daniels Hayford

A. (Tassos) Malliaris

The financial crisis of 2007–09 has led to a rethinking of the role of monetary and financial regulatory policy. It has also called into question the benefits of financial innovation and monetary policy that focuses solely on inflation and the output gap. This paper discusses financial instabilities in general, the recent financial crisis as well as the appropriate role of monetary and financial regulatory policy in dealing with asset bubbles. The paper concludes by evaluating appropriate policies to reduce the economic impact of future financial crises.


Strategies For Compliance With Government Regulations In A Pharmaceutical Company, Charles Jagun Jan 2018

Strategies For Compliance With Government Regulations In A Pharmaceutical Company, Charles Jagun

Walden Dissertations and Doctoral Studies

Pharmaceutical companies accrued fines of over $30 billion within 25 years because of noncompliance with regulations. Noncompliance with regulations results in fines and an adverse impact on company profitability. Some pharmaceutical company managers lack effective strategies to ensure overall company compliance with regulation. Based on complexity leadership theory, the purpose of this single case study was to explore strategies pharmaceutical company managers used to ensure compliance with regulatory requirements in Nigeria. The target population was functional managers purposely selected because they had successfully implemented strategies for compliance with the regulatory requirements in Nigeria. Data were collected through face-to-face and telephone …


Progressive Antitrust, Herbert J. Hovenkamp Jan 2018

Progressive Antitrust, Herbert J. Hovenkamp

All Faculty Scholarship

Several American political candidates and administrations have both run and served under the “progressive” banner for more than a century, right through the 2016 election season. For the most part these have pursued interventionist antitrust policies, reflecting a belief that markets are fragile and in need of repair, that certain interest groups require greater protection, or in some cases that antitrust policy is an extended arm of regulation. This paper argues that most of this progressive antitrust policy was misconceived, including that reflected in the 2016 antitrust plank of the Democratic Party. The progressive state is best served by a …