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Full-Text Articles in Business Law, Public Responsibility, and Ethics

Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

As a global financial service provider, JPMorgan Chase (JPM) is supervised by banking regulatory agencies in different countries. Bruno Iksil, the derivatives trader primarily responsible for the $6 billion trading loss in 2012, was based in JPM’s London office. This office was regulated both by the Office of the Comptroller of the Currency (OCC) of the United States (US) and by the Financial Services Authority (FSA), which served as the sole regulator of all financial services in the United Kingdom (UK). Banking regulators in the US and the UK have entered into agreements with one another to define basic parameters …

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Jpmorgan Chase London Whale G: Hedging Versus Proprietary Trading, Arwin G. Zeissler, Andrew Metrick Aug 2019

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 …

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Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick Aug 2019

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 …

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Jpmorgan Chase London Whale E: Supervisory Oversight, Arwin G. Zeissler, Andrew Metrick Aug 2019

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 …

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Jpmorgan Chase London Whale D: Risk-Management Practices, Arwin G. Zeissler, Andrew Metrick Aug 2019

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 …

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The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter Jul 2019

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted neoliberal structural …

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Like Father, Like Son: Modelling Masculinity For The Ethical Leadership Of President Theodore Roosevelt, Elizabeth Summerfield Jul 2019

Like Father, Like Son: Modelling Masculinity For The Ethical Leadership Of President Theodore Roosevelt, Elizabeth Summerfield

The Journal of Values-Based Leadership

President Theodore Roosevelt is frequently portrayed as a rugged, hypermasculine cowboy. But this depiction ignores the powerful modelling for masculine leadership provided by his father, Theodore Roosevelt senior. A closer examination of the private and public spheres that framed the latter’s life offers another route into understanding the ethical and rational motivations that characterised his progressive Presidency, not least in the area of natural resource management, where his policy innovations were both unprecedented and sustained over time. What emerges is a more complex portrait than the above stereotype, a leader who used his heart, head and experience to think and …

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Product Categories As Judgment Devices: The Moral Awakening Of The Investment Industry, Diane-Laure Arjaliès, Rodolphe Durand Jul 2019

Product Categories As Judgment Devices: The Moral Awakening Of The Investment Industry, Diane-Laure Arjaliès, Rodolphe Durand

Business Publications

Product categories are more than classification devices that organize markets; when reflecting market actors' purposes, they are also judgment devices. Taking stock of the literature on product categories and drawing on the distinction between the faculties of knowing and judging, we elaborate a framework that accounts for how and why market actors include or exclude normative attributes in a product category definition. Based on a field study of the development of Socially Responsible Investment (SRI) funds in France, we describe the phases and conditions of a judgment framework for category definition, for both established and nascent categories. We discuss implications …

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Kontribusyon Ng Mga Pribadong Pamantasan Sa Pilipinas Sa Paglikha Ng Yamang-Kaalaman, Tereso S. Tullao Jr Jul 2019

Kontribusyon Ng Mga Pribadong Pamantasan Sa Pilipinas Sa Paglikha Ng Yamang-Kaalaman, Tereso S. Tullao Jr

Angelo King Institute for Economic and Business Studies (AKI)

Ang pagpapahalaga sa yamang-kaalaman ay nakaugat sa pagpasok ng ekonomiya ng kaalaman na ipinakikita sa mga pwersa ng Industriya 4.0 o Ikaapat na Rebolusyong Industriyal. Pananaliksik at inobasyon ang lumilikha ng yamang-kaalaman. Dahil ang pananaliksik ay maituturing na isang pampublikong produkto, may papel ba ang mga pribadong pamantasan sa paglikha ng yamang-kaalaman? Tinatasa sa sanaysay ang ambag ng mga pribadong pamantasan sa Pilipinas sa paglikha ng yamang-kaalaman sa pamamagitan ng kanilang publikasyon sa mga Scopus journal relatibo sa publikasyon ng mga pampublikong pamantasan. Lumalabas na napakalawak ng ambag ng mga pribadong pamantasan kahit na walang tinatanggap na tulong mula sa …

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Is Pakistani State At War With Free Press?, Umer Bin Ajmal Jun 2019

Is Pakistani State At War With Free Press?, Umer Bin Ajmal

MSJ Capstone Projects

Pakistan’s media scene today depicts a similar picture where many journalists say they have been “conditioned” to self-censor news. But unlike Pavlov using a sound as a stimulus, certain “powers that be” use threat and violence to intimidate journalists and force them to behave in a certain way. Psychologists around the world say there is a lesson in this experiment: it demonstrates that human behavior, too, can be manipulated or maneuvered through conditioning.

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Do We Need To Secure A Place At The Table For Women? An Analysis Of The Legality Of California Law Sb-826, Teal N. Trujillo Jun 2019

Do We Need To Secure A Place At The Table For Women? An Analysis Of The Legality Of California Law Sb-826, Teal N. Trujillo

Journal of Legislation

No abstract provided.

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The Personalization-Privacy Paradox Explored Through A Privacy Calculus Model And Hofstede’S Model Of Cultural Dimensions, Kellen M. Schwartz Jun 2019

The Personalization-Privacy Paradox Explored Through A Privacy Calculus Model And Hofstede’S Model Of Cultural Dimensions, Kellen M. Schwartz

Honors Projects

The Personalization-Privacy Paradox is a relevant issue for companies today, as it deals with the paradox of customers who on the one hand want to keep their personal data private, but on the other hand desire the personalization benefits that can be gained by giving up that privacy. Many studies in the past have observed the Personalization-Privacy Paradox, but not thoroughly through the lens of a privacy calculus model. This paper uses a privacy calculus model to examine the Personalization-Privacy Paradox using Hofstede’s Six Dimensions of Culture and examines the United States, Germany, and China as case studies of three …

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Illness And The American Workplace: Issues And Implications For Employers And Employees, Victoria R. Dolan May 2019

Illness And The American Workplace: Issues And Implications For Employers And Employees, Victoria R. Dolan

Student Theses and Dissertations

This project aims to identify American employee experiences and existing workplace policies and cultures surrounding illness, disability, and sick leave. This approach was taken in order to closely examine what looks to be working well for companies and workers, and what could benefit from a more human centric approach in regards to workplace policy and employee support programs. The study of employee experiences in particular represents a gap in the current scholarly literature regarding illness and illness policy in the American workplace, and more accurately represents the experiences for both employees and employers. Furthermore, it assists with distinguishing the types …

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Examining The United Kingdom’S Soft Law Approach For Women On Boards With Regard To Gender Diversity And The Gender Pay Gap: A Regression Discontinuity Design, Silvana Chambers May 2019

Examining The United Kingdom’S Soft Law Approach For Women On Boards With Regard To Gender Diversity And The Gender Pay Gap: A Regression Discontinuity Design, Silvana Chambers

Human Resource Development Theses and Dissertations

In an effort to remove barriers that hinder women’s advancement in the workplace, legislators have adopted gender quotas and targets to increase the numbers of women on boards (WOB). In 2011, the Davies Review rolled out the guidelines of the United Kingdom’s soft law approach for increasing the proportion of WOB in the largest publicly listed organizations. Promoted by advocates and proponents of WOB initiatives, the assumption that inequality is perpetuated by men and not women, has resulted in the expectation that WOB initiatives are a top-down approach to achieve gender equality in the workforce. This study examined the effects …

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Authentic Csr In Professional Sport Organizations: Application Of A Theoretical Framework, Yoseph Mamo May 2019

Authentic Csr In Professional Sport Organizations: Application Of A Theoretical Framework, Yoseph Mamo

LSU Doctoral Dissertations

Within the present dissertation, determinants for authentic CSR, process and outcomes are explored. A three-paper multiple method examination has been conducted, including a conceptual paper framework (Chapter 2), a structural equation model (Chapter 3), and MANOVA analysis (Chapter 4). Chapter 2 extends literature on when, why, and how professional sport organizations (PSO) can develop authentic CSR activities that can have a long-term positive impact on stakeholders. Chapter 3 advances literature on identifying the relevant dimensions of CSR that are supported by the fans rather than using a more holistic approach will advance our understanding of the relationships between different types …

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Evaluating The Impact Of Training Employees To Identify Victims Of Human Trafficking, Emily Roman May 2019

Evaluating The Impact Of Training Employees To Identify Victims Of Human Trafficking, Emily Roman

Electronic Theses and Dissertations

Human trafficking is a global epidemic that steals the freedoms away from those who have been oppressed by it. Providing victims with resources begins with identifying them. Unfortunately, identifying victims is not an easy task. Trafficked victims are controlled and protected by their traffickers, and recipients may not even realize that they are victims of human trafficking. Also, the vague nature of trafficking makes it difficult for service providers, such as those in law enforcement, healthcare, and social services, to identify victims readily. Furthermore, research efforts imply a general lack of training provided for employees to know how to identify …

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Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou Apr 2019

Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou

Research Collection Lee Kong Chian School Of Business

Building on the literature on optimal distinctiveness, this study explores the effects of conformity and differentiation in corporate social responsibility (CSR) practices on the evaluations by security analysts and the responses of the financial market in general. We develop the argument that while conformity in CSR scope enhances analyst coverage, differentiation in CSR emphasis leads to more-favorable analyst recommendations and higher market value. This suggests that firms may be able to simultaneously conform in CSR scope and differentiate in CSR emphasis to achieve optimal distinctiveness. To further enhance our understanding of the variation in the relationship between conformity/differentiation and the …

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Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay Apr 2019

Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay

Research Collection School Of Computing and Information Systems

This research article explores a text analyticsapproach to assess the prominence of corporate social responsibility in 554Singapore-listed firms through a content analysis of the news. Instead ofrelying on publications by the firms, third-party news coverage is used toreduce potential biases due to over-reporting. A dataset of news articles onthe included firms published during fiscal years 2015 and 2016 is crawled, andthe articles’ content is parsed to search for information related to corporatesocial responsibility. Graph theory is subsequently used to create acollaborative network of listed firms’ corporate social responsibilityactivities. The results highlight a more automated and scalable means ofassessing the prominence …

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Ethical Leadership And Ethical Behavior In The Large Publicly Traded United States-Based Banks, Gerald R. Rowe Iii Mar 2019

Ethical Leadership And Ethical Behavior In The Large Publicly Traded United States-Based Banks, Gerald R. Rowe Iii

Doctoral Dissertations and Projects

Unethical behavior in business and banking has cost Americans significantly throughout the past several decades. Ethical lapses in banking contributed to the financial disaster of 2008-09, resulted in thousands of families losing their homes, cost consumers millions in bogus overdraft fees, resulted in millions of phony accounts customers did not agree to open, and cost end users billions in credit card fees, just to name a few of the transgressions. This study utilized Brown, Harrison, and Travino’s (2005) Ethical Leadership Scale (ELS) to measure ethical leadership and Kaptein’s (2008) Measure of Unethical Behavior in the Workplace to measure ethical behavior …

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Corporate Governance: Avoid The Groupthink Pitfall, Themin Suwardy Mar 2019

Corporate Governance: Avoid The Groupthink Pitfall, Themin Suwardy

Research Collection School Of Accountancy

Consensus due to similar personal backgrounds, lack of diversity in views and failure to see things from others’ perspective can lead to bad decisions.

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Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray Feb 2019

Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

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Towards Quantifiable Metrics Warranting Industry-Wide Corporate Death Penalties, Joshua M. Pearce Feb 2019

Towards Quantifiable Metrics Warranting Industry-Wide Corporate Death Penalties, Joshua M. Pearce

Department of Materials Science and Engineering Publications

In the singular search for profits, some corporations inadvertently kill humans. If this routinely occurs throughout an industry, it may no longer serve a net positive social purpose for society and should be eliminated. This article provides a path to an objective quantifiable metric for determining when an entire industry warrants the corporate death penalty. First, a theoretical foundation is developed with minimum assumptions necessary to provide evidence for corporate public purposes. This is formed into an objective quantifiable metric with publicly-available data and applied to two case studies in the U.S.: the tobacco and coal mining industries. The results …

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Shareholders United?, Andrew K. Jennings Jan 2019

Shareholders United?, Andrew K. Jennings

Faculty Articles

Securities regulation has a way of crossing into other lanes. What public companies do is substantive regulation. How they govern themselves while doing it-or more importantly, how they disclose it-is securities regulation. So it is no surprise that the perennial concern over regulating money in politics should also become a question of federal securities regulation. The Shareholders United Act (the "Act")-passed by the House of Representatives as part of House Bill 1, an early, major piece of legislation in the 116th Congress-does just that. The Act would require that before engaging in political spending, public companies poll shareholders on how …

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Securities Disclosure As Soundbite: The Case Of Ceo Pay Ratios, Steven A. Bank, George S. Georgiev Jan 2019

Securities Disclosure As Soundbite: The Case Of Ceo Pay Ratios, Steven A. Bank, George S. Georgiev

Faculty Articles

This Article analyzes the history, design, and effectiveness of the highly controversial CEO pay ratio disclosure rule, which went into effect in 2018. Based on a regulatory mandate contained in the Dodd-Frank Act of 2010, the rule requires public companies to disclose the ratio between CEO pay and median worker pay as part of their annual filings with the Securities and Exchange Commission (SEC). The seven-year rulemaking process was politically contentious and generated a level of public engagement that was virtually unprecedented in the long history of the SEC disclosure regime. The SEC sought to minimize compliance costs by providing …

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Do Not Bank On Us! Taking Stock Of Transparency And Accountability During Crises In Uganda: The Case Of Crane Bank Collapse, Angella Napakol, Ann Mugunga Jan 2019

Do Not Bank On Us! Taking Stock Of Transparency And Accountability During Crises In Uganda: The Case Of Crane Bank Collapse, Angella Napakol, Ann Mugunga

International Crisis and Risk Communication Conference

This study examined transparency and accountability as bridges to the interpretative and sense making capabilities of the public following the collapse of Crane Bank, Uganda. Content and critical discourse analysis methods were used to: investigate the nature of communication, the information shared; review honesty and responsibility in communication, and also analyze how accountability and transparency are constructed during crisis situations in the South. Assessment of 120 newspaper articles showed that both Crane Bank and Bank of Uganda mainly left it to the media to create and give meaning to stakeholders. Initial communication from both institutions was delayed and subsequent communication …

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Does The Legal System Affect The Cost Of External Financing? Evidence From Ipo Underpricing Of Foreign Firms Listed In U.S. Stock Markets, Shaokang Wang, Jing Jiang Jan 2019

Does The Legal System Affect The Cost Of External Financing? Evidence From Ipo Underpricing Of Foreign Firms Listed In U.S. Stock Markets, Shaokang Wang, Jing Jiang

WCBT Faculty Publications

To study the effect of the legal system on the cost of external financing, we examine the degree of underpricing of the IPOs by foreign companies listed in U.S. We find that firms from highly corrupted countries have larger IPO underpricing. The quality of the home-country public law enforcement reduces the degree of IPO underpricing. In particular, the criminal sanction for violations of securities laws is the most significant factor in reducing underpricing. The evidence shows that even when a non-U.S. firm meets sophisticated U.S. regulations and goes public in a U.S. exchange, the degree of underpricing is still influenced …

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Climate Change: A Call To Action, Kathy K. Dhanda Jan 2019

Climate Change: A Call To Action, Kathy K. Dhanda

WCBT Faculty Publications

On Dec 15, 2018, in the town of Katowice, Poland, diplomats from 200 countries adopted a detailed set of rules to uphold and implement the Paris Agreement, the international treaty drafted by United Nations Framework Convention on Climate Change (UNFCCC) to reduce greenhouse gas emissions. This deal will require every country to track its emissions and climate policies by following a uniform set of standards. Furthermore, countries are to cut their emissions ahead of the next round of talks in 2020. Climate change is a complicated problem, one that will not be solved by national governments alone. A lot of …

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Island Invasion: The Silent Crisis In Hawaii, Sophia Janssen Jan 2019

Island Invasion: The Silent Crisis In Hawaii, Sophia Janssen

Pomona Senior Theses

Keeping out invasive species may, upon first review, seem like a trivial environmental cry from ecologists and deep environmentalists; a belated wish to return to an undeveloped world where nature was pristine. However invasive species create problems that impact all of us and can have far more severe consequences than changing a stunning landscape. These problems are heightened in islands like Hawaii, where the fragile ecosystems have developed over centuries of evolution and adaptation. The introduction of a disease-carrying mosquito can put the people of Hawaii at risk to many vector-born illnesses and create an epidemic, taking human life. The …

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Successful Climate Change Strategies In Corporate Farming, Deann Renee Reaves Jan 2019

Successful Climate Change Strategies In Corporate Farming, Deann Renee Reaves

Journal of Sustainable Social Impact

According to the National Oceanic and Atmospheric Administration’s National Centers for Environmental Information (2016), climate-related disasters occurring from 2011 to 2015 caused property damages in excess of US$230 billion—and the agriculture sector incurs some of the largest losses (Hoffmann, 2013). The purpose of this case study was to identify, through an in-depth interview and document review, successful climate-change-based sustainability strategies in a publicly held farming operation. The findings indicated that the farm’s climate-change-based sustainability strategy had basic qualities of corporate social responsibility, triple-bottom-line thinking, and systems thinking. Specific approaches identified were mitigation- and adaptation-oriented approaches. Implications for social change include …

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Management Of Cull Dairy Cows—Consensus Of An Expert Consultation In Canada, Jane Stojkov, G. Bowers, M. Draper, Todd Duffield, P. Duivenvoorden, M. Groleau, Deb Haupstein, R. Peters, Jane Pritchard, C. Radom, N. Sillett, W. Skippon, H. Trépanier, David Fraser Dec 2018

Management Of Cull Dairy Cows—Consensus Of An Expert Consultation In Canada, Jane Stojkov, G. Bowers, M. Draper, Todd Duffield, P. Duivenvoorden, M. Groleau, Deb Haupstein, R. Peters, Jane Pritchard, C. Radom, N. Sillett, W. Skippon, H. Trépanier, David Fraser

Farm Animal Welfare Collection

Many cull dairy cows enter the marketing system and travel to widely dispersed and specialized slaughter plants, and they may experience multiple handling events (e.g., loading, unloading, mixing), change of ownership among dealers, and feed and water deprivation during transport and at livestock markets. The objectives of this study were to describe the diverse management of cull dairy cows in Canada and establish consensus on ways to achieve improvements. A 2-day expert consultation meeting was convened, involving farmers, veterinarians, regulators, and experts in animal transport, livestock auction, and slaughter. The 15 participants, recruited from across Canada, discussed regional management practices …

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