Business Commons^™

Jpmorgan Chase London Whale G: Hedging Versus Proprietary Trading, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

In December 2013, the primary United States financial regulatory agencies jointly adopted final rules to implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is often referred to as the “Volcker Rule”. Section 619 prohibits banks from engaging in activities considered to be particularly risky, including proprietary trading and owning hedge funds or private equity funds. Banking regulators designed the final rule against proprietary trading in part to prevent losses like the $6 billion London Whale loss that took place in 2012 at JPMorgan Chase. Given the controversial nature of the Volcker Rule, it is …

Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick

Journal of Financial Crises

On April 13, 2012, JPMorgan Chase (JPM) Chief Financial Officer Douglas Braunstein took part in a conference call to discuss the bank’s first quarter 2012 earnings. Coming just a week after media reports first questioned the risks taken by JPM derivatives trader Bruno Iksil, Braunstein made a series of assertions about the trades. On May 10, JPM finalized its first quarter financial results, which included some disclosures regarding Iksil’s trading that were substantially different from Braunstein’s statements of April 13. At issue is whether the regulatory filings on April 13 and May 10, as well as verbal comments by Braunstein …

Jpmorgan Chase London Whale E: Supervisory Oversight, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

As a diversified financial service provider and the largest United States bank holding company, JPMorgan Chase (JPM) is supervised by multiple regulatory agencies. JPM’s commercial bank subsidiaries hold a national charter and therefore are regulated by the Office of the Comptroller of the Currency (OCC). Since the bank’s Chief Investment Office (CIO) invested the surplus deposits of JPM’s commercial bank units, the OCC was also CIO’s primary regulator. During the critical period from late January through March 2012, when CIO traders undertook the failed derivatives strategy that ultimately cost the bank $6 billion, JPM did not provide the OCC with …

Jpmorgan Chase London Whale D: Risk-Management Practices, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

JPMorgan Chase (JPM) prided itself on having the best risk-management practices in the financial industry, having survived the 2007-09 financial crisis in better shape than many competitors. Chief Executive Officer Jamie Dimon often spoke of the bank’s “fortress balance sheet.” A keen focus on risk management is vital to JPM’s longevity, as is the case with all highly leveraged financial institutions. However, the JPM Task Force that investigated the $6 billion 2012 London Whale trading loss concluded that risk-management practices at the bank’s Chief Investment Office (CIO), the unit in which the loss occurred, were given less scrutiny by senior …

Jpmorgan Chase London Whale C: Risk Limits, Metrics, And Models, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

Value at Risk (VaR) is one of the most commonly used ways to measure and monitor market risk. At JPMorgan Chase (JPM), very large derivative positions established by Bruno Iksil in the Synthetic Credit Portfolio (SCP) caused the bank’s Chief Investment Office (CIO) to exceed its VaR limit for four days in a row in January 2012. In response, the CIO changed to a new VaR model on January 30, which appeared to immediately reduce VaR by half. However, JPM soon discovered that this new VaR model had not been properly implemented and the bank went back to using the …

Jpmorgan Chase London Whale A: Risky Business, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick

Journal of Financial Crises

In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank’s Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its RiskWeighted Assets as the bank prepared to adopt the impending Basel III bank capital regulations. However, the SCP traders were also told to minimize the trading costs incurred to reduce Risk-Weighted Assets, while still maintaining the opportunity to profit from unexpected corporate bankruptcies. In an attempt to balance these competing objectives, head SCP derivatives trader Bruno Iksil suggested in January 2012 …

2019-August-30-Songs In The Wind, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

Green Product Design With Competition And Fairness Concerns In The Circular Economy Era, Qingying Li, Xiaotong Guan, Tianqin Shi, Wen Jiao

Faculty Publications

In this paper, we consider green product design in a supply chain consisting of one manufacturer and two retailers, where retailer 1 aims at monetary profit maximisation, and retailer 2 has fairness concern. We consider two kinds of green products: a marginal-intensive green product (MIGP) and a development-intensive green product (DIGP). For the former, the green investment cost depends on the green level and the production quantity; while for the latter, the green investment cost depends on the green level solely. In each case, we investigate the impact of the retailer’s fairness concern by comparing the optimal solutions and supply …

2019-August-29-Etsu, Northeast State Sign Rehabilitative Health Sciences Articulation Agreement, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

2019-August-29-Newly Renovated Dining Hall Opens, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

Watch Me Give: Narcissism As A Moderator To Donating To A Nonprofit, Austin Prewett, Charles Elliott, Paul A. Story

The Kennesaw Journal of Undergraduate Research

With increased online connectivity in the current generation, more non-for-profit organizations are focusing their efforts on producing online marketing appeals. It has, therefore, become necessary to identify the effect some appeals have on different people. The present study seeks to determine whether an organization offering increased recognition will result in a greater willingness to give by people with narcissistic personalities. Additionally, it will determine if “willingness” to give or “amount” given are different between genders or employment status, as prior research suggests. Results indicated that whether the organization offered increased recognition or not, narcissism did not affect willingness to give …

The Art Of The Rebrand: Utilizing Strategic Communications To Obtain Employee Buy-In During A Rebrand, Samantha Azizo

Student Theses and Dissertations

The purpose of this study is to identify how organizations can effectively communicate with employees during a rebrand in order to obtain their acceptance of the changes, otherwise known as employee buy-in. Prior research has found that employee acceptance of a rebrand is a contributing factor towards a successful rebrand; however, prior research fails to determine how the rebrand can be best communicated to employees to obtain their buy-in. The research performed for the study took place in two parts. First, 142 online surveys probing employee and consumer perception about rebranding were performed. Secondly, three semi-structured interviews with professionals who …

2019-August-28-Archaeology Day, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

A Study Of The Green Paradox In Dynamic Oligopolies : Theories And Merger Control Policy, Aida Ospanova

Lingnan Theses (MPhil & PhD)

Aiming to reduce the environmental damage and to ensure the energy security, more and more attention has been paid to the development of the renewable sources of energy, such as wind, solar, biofuels, etc. Indeed, as expected by the World Bank, World Energy Outlook 2017, the demand for fossil fuel, especially for the coal, would gradually decrease by 2040.

However, the non-renewable producers anticipating the decline in the demand for the non-renewable energy and the threat of the stringent environmental policies in the foreseeing future would respond by accelerating current extraction. This phenomenon in the existing literature is called the …

Vision For The Cities, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan is likely to face several difficult challenges in the next few decades such as Above average Population growth, rapid urbanization, youth dominated demographics, absorption and application of technological changes, Climate change and a move away from global integration and linkages. On the top of it we are faced with weak governance structure which has made us laggard in the region. In order to prepare for meeting these challenges we have to design a strategy that primarily addresses the governance issues. In my book “Governing the ungovernable” I have concluded that the main driver of change for governance reforms would …

Proposed Statement On Auditing Standards, Amendments To Au-C Sections 800, 805, And 810 To Incorporate Auditor Reporting Changes From Sas No. 134, August 28, 2019, Comments Are Requested By October 28, 2019; Exposure Draft (American Institute Of Certified Public Accountants), 2019, August 28, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Amendments To Au-C Sections 800, 805, And 810 To Incorporate Auditor Reporting Changes From Sas No. 134, August 28, 2019, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Secondary Traumatic Stress Among Child Welfare Workers, Quality Improvement Center For Workforce Development

Other QIC-WD Products

There is growing evidence to suggest that child welfare workers are experiencing high levels of secondary traumatic stress (STS) as a result of exposure to traumatized clients in crisis (e.g., Barbee, et al, 2018). The Quality Improvement Center on Workforce Development (QIC-WD) surveyed 1,113 front line child welfare workers in 13 jurisdictions between November, 2017 and March, 2018 using the Bride (2007) Secondary Traumatic Stress Scale as part of a comprehensive workforce needs assessment. An average of 54% of participants reported clinical levels of STS. When these elevated numbers are compared to the original Bride research of social workers, they …

2019-August-27-Women On Wednesdays, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

2019-August-27-Tri-Cities College Fair, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

2019-August-27-Mbmsota Fall 2019 Season, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

Orientalism, Resistance Or Global Harmony? Entangled Strands In The Film Isle Of Dogs, Soonkwan Hong

Markets, Globalization & Development Review

No abstract provided.

Education, Enterprise Capitalism, And Equity Challenges: The Continuing Relevance Of The Correspondence Principle In Japan, Masaaki Takemura

Markets, Globalization & Development Review

This paper revisits the correspondence principle of Bowles and Gintis (1976) – which refers to the mutual mimicking of the capitalist hierarchy in the workplace and the school. The Bowles-Gintis model still appears to be working in the context of schooling in Japan. In the international comparative educational assessment called PISA (Program for International Student Assessment), created by OECD (Organization for Economic Cooperation and Development, the association of advanced democratic nations), Japanese students achieve better results than most countries. Japanese students excel in PISA performance, especially in mathematics. Such excellence, however, has negative correlations with students’ creativity, positive attitudes, and …

Virtual Idol Hatsune Miku: Case Study Of New Production/Consumption Phenomena Generated By Network Effects In Japan’S Online Environment, Hajime Kobayashi, Takashi Taguchi

Markets, Globalization & Development Review

Using Hatsune Miku, a vocaloid or a Desktop Music (DTM) software using voice synthesizer technology, as a case study, this paper explores how consumer generated media (CGM) and user generated content (UGC) diffused in Japan – rapidly at first and then at an erratic and not-so-rapid pace. The creative environment ushered in by the vocaloid platform, it appears, represents a form of "managed creativity", and not a rosy future characterized by a participatory turn to a widespread democratization of creative activity.

A Critical Marketing Practitioner In Japan: Philosophy And Marketing Activities Of Seiji Tsutsumi, Kazuo Usui

Markets, Globalization & Development Review

This paper explores some features of marketing activities and marketing thought of a Japanese critical marketing practitioner, Dr. Seiji Tsutsumi. The approach of the paper is biographical. Somewhat paradoxically, the paper finds – in the practices and thoughts of Dr. Seiji Tsutsumi – a refreshingly critical mindset, despite his huge commercial success in retail business in Japan. Similar biographical research should be done in other national contexts, to develop links between practices and critical theories.

Critical Thinking From Japan: Additional Perspectives, Masaaki Takemura, Nikhilesh Dholakia

Markets, Globalization & Development Review

No abstract provided.

School Of Education Hosts Fall Triad Training, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

Epnl Researchers Publish Novel Body Of Composition Data, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

2019-August-26-Buccaneer Brawl, University Marketing And Communications, East Tennessee State University

ETSU News

No abstract provided.

Mfa In Writing Program Recognized Among Best In The Country, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.