Search results

1 – 10 of 63
To view the access options for this content please click here
Article
Publication date: 10 July 2017

Charles Goodhart

The purpose of this paper is to provide a provocative and critical introduction and solutions to significant contemporary issues of financial regulation.

Abstract

Purpose

The purpose of this paper is to provide a provocative and critical introduction and solutions to significant contemporary issues of financial regulation.

Design/methodology/approach

The paper is an expert’s review of contemporary issues and challenges in financial regulation.

Findings

The paper advocates that contemporary financial regulation challenges are addressed through governance reforms and an enhanced focus on maturity transformation, rather than a focus on just capital and liquidity management. In particular, more emphasis should be given to individual decision-makers within banks rather than institutions.

Practical implications

The review paper considers areas where future regulatory reform may be enhanced and redirected.

Originality/value

The review provides original and critical perspectives on contemporary regulatory challenges.

Details

Journal of Financial Regulation and Compliance, vol. 25 no. 3
Type: Research Article
ISSN: 1358-1988

Keywords

To view the access options for this content please click here
Article
Publication date: 15 January 2020

Charles Goodhart

Learning often requires little or no expenditure in income; its real cost is that it takes time. The paper aims to discuss this issue.

Abstract

Purpose

Learning often requires little or no expenditure in income; its real cost is that it takes time. The paper aims to discuss this issue.

Design/methodology/approach

Since time is scarce, most people normally decide not to learn about many aspects of modern life, but rather to specialise on certain limited areas. When a matter arises outside our specialisation, we tend to follow others whose narratives we trust.

Findings

So, learning in many cases arises from social interaction, not from individual study. Consequently, informational contagion is baked into our social and economic systems.

Originality/value

Treating time, not income or wealth, as the ultimate constraint improves analysis of the learning process, clarifying its essential social nature.

Details

Review of Behavioral Finance, vol. 12 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

To view the access options for this content please click here
Article
Publication date: 13 November 2017

Charles A.E. Goodhart and Miguel A. Segoviano

This paper proposes an objective metric to trigger bank recovery. Banks’ living wills involve both recovery and resolution. Since it may not always be clear when recovery…

Abstract

Purpose

This paper proposes an objective metric to trigger bank recovery. Banks’ living wills involve both recovery and resolution. Since it may not always be clear when recovery plans or actions should be triggered, there is a role for an objective metric to trigger recovery.

Design/methodology/approach

We outline how such a metric could be constructed meeting criteria of adequate loss absorption; distinguishing between weak and sound banks; little susceptibility to manipulation; timeliness; scalable from the individual bank to the system.

Findings

We show how this would have worked in the UK, during 2007-2011.

Originality/value

This approach has the added advantage that it could be extended to encompass a whole ladder of sanctions of increasing severity as capital erodes.

Details

Journal of Financial Regulation and Compliance, vol. 25 no. 4
Type: Research Article
ISSN: 1358-1988

Keywords

To view the access options for this content please click here
Book part
Publication date: 11 November 2014

Alessandro Spano

To fill the gap in the literature with regard to public value measurement (PVM) and to provide a model for measuring public value at an individual organizational level…

Abstract

Purpose

To fill the gap in the literature with regard to public value measurement (PVM) and to provide a model for measuring public value at an individual organizational level, based on managerial control systems (MCS).

Design/methodology/approach

This article helps review the literature on PVM and propose a model for measuring the value generated by individual organizations. Measurement challenges and potential solutions are investigated.

Findings

Public value generated by an individual organization can be calculated by measuring if and to what extent the organization’s outcomes and objectives have been achieved. Public value production and measurement are part of a wider PVM process, which is congruent with the major elements of MCS, from planning to operations, and measurement to evaluation.

Research limitations/implications

This article provides knowledge to support the measurement of public value produced by public sector organizations. However, the suggested use of MCS for a comprehensive measure of the public value produced by a public body does not allow for a comparison of the public values generated by different organizations, as the value is calculated against the objectives set by that specific organization. More research is needed in order to fully utilize this model in practice.

Practical implications

The findings may help public sector organizations, policymakers and public managers measure the public value produced by a public organization as a whole.

Social implications

This article may help citizens and other stakeholders understand the public value produced by a public organization.

Originality/value

This article is based on an original research undertaken by the author and faces the relatively neglected issue of PVM. It suggests the use of public value MCS as a model for measuring public value produced by individual organizations.

Details

Public Value Management, Measurement and Reporting
Type: Book
ISBN: 978-1-78441-011-7

Keywords

To view the access options for this content please click here
Article
Publication date: 1 April 2001

Geoffrey E. Wood

This paper considers what purposes regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is…

Abstract

This paper considers what purposes regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is considered, and it is argued on the basis of that examination that a fairly ‘light touch’ in regulation is likely to achieve the objectives that governments and citizens require regulation to achieve. Accordingly, the paper concludes that when regulation is evaluated and compared against unregulated systems, one should be careful to compare fallible regulation with fallible markets, rather than implicitly assuming regulation is perfect. Otherwise over‐regulation will result.

Details

Journal of Financial Regulation and Compliance, vol. 9 no. 4
Type: Research Article
ISSN: 1358-1988

Content available
Article
Publication date: 2 January 2009

Michael Mainelli

Abstract

Details

The Journal of Risk Finance, vol. 10 no. 1
Type: Research Article
ISSN: 1526-5943

To view the access options for this content please click here
Article
Publication date: 1 March 2002

KEVIN DOWD

The pre‐commitment approach to bank capital regulation proposes that banks self‐select capital reserve requirements, facing penalties ex post for incurring losses in…

Abstract

The pre‐commitment approach to bank capital regulation proposes that banks self‐select capital reserve requirements, facing penalties ex post for incurring losses in excess of reserves, hence providing incentives for high‐ risk banks to choose higher capital requirements. In order to assess the validity of the pre‐commitment approach, this article analyzes its comparative statics within the context of a standard European option written against the bank's capital base. The author finds that this approach works when it is not needed (when banks possess unlimited capital and hence cannot fail), but not when it is.

Details

The Journal of Risk Finance, vol. 3 no. 4
Type: Research Article
ISSN: 1526-5943

To view the access options for this content please click here
Article
Publication date: 6 February 2009

Ilfryn Price and Elizabeth Clark

The purpose of this paper is to demonstrate the analysis of portfolios of office properties using measures of business outputs, namely occupation efficiency and staff satisfaction.

Abstract

Purpose

The purpose of this paper is to demonstrate the analysis of portfolios of office properties using measures of business outputs, namely occupation efficiency and staff satisfaction.

Design/methodology/approach

Satisfaction is measured using a proprietary online survey instrument that has proved highly reliable and repeatable in three separate trials. The data on 192 buildings are analysed using data envelopment analysis.

Findings

Instant and significant differences are revealed between clusters of buildings and individual properties. The approach reveals inefficiencies that are concealed by more conventional cost‐based metrics.

Practical implications

The study has proven to be of use in gaining organisational commitment to strategic property improvements.

Originality/value

The authors are not aware of this approach having been applied elsewhere in either research or application.

Details

Property Management, vol. 27 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

To view the access options for this content please click here
Article
Publication date: 1 March 1995

MICHAEL TAYLOR

The collapse of Barings Bank in February this year provided a stark illustration of the need for adequate systems and controls in managing trading risks. This paper…

Abstract

The collapse of Barings Bank in February this year provided a stark illustration of the need for adequate systems and controls in managing trading risks. This paper reviews the current advice on best practice from regulators, industry groups and government agencies. It emphasises the importance of strong corporate governance, the need for a strong risk management infrastructure, and suggests ways in which the incentives for excessive risk‐taking generated by existing systems of bonus payments might be corrected. The paper also recommends each firm perform an annual risk control assessment under the direction of its audit committee. It concludes by arguing that enhanced public disclosure has an essential role to play in providing an additional discipline on the board and senior management to ensure the adequacy of systems and controls.

Details

Journal of Financial Regulation and Compliance, vol. 3 no. 3
Type: Research Article
ISSN: 1358-1988

Content available

Abstract

Details

Property Management, vol. 19 no. 2
Type: Research Article
ISSN: 0263-7472

1 – 10 of 63