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Basel III and the capital stress testing introduced new requirements and new definitions while retaining the structure of the pre-2010 requirements. The total number of…
Basel III and the capital stress testing introduced new requirements and new definitions while retaining the structure of the pre-2010 requirements. The total number of requirements increased, making it difficult to determine which and how many constraints are binding. The purpose of this paper is to discuss the new financial regulations in the post-financial crisis period, focusing on the capital and liquidity regulations.
The authors explore the impact of financial regulations using various data sources – financial and accounting data from Y-9C Reports. Market data such as daily bond trading from TRACE through the Wharton Data Research Services and Treasury yield from the Bloomberg. The authors use regression analysis to examine the roles of capital adequacy and liquidity regulations.
The authors’ analysis in this paper suggest that Basel III, CET1 and Level 1 HQLAs requirements post-financial crisis have reshaped the balance sheets of large financial institutions, with some differential impacts on traditional versus capital markets banks. These changes appear to respond to the binding constraints (CET1 being a preponderance of required regulatory capital, Level 1 HQLAs a majority of required HQLAs and the expense of both) created by these new requirements, which also appear to have constrained asset growth at such institutions. Consistent with the authors’ view, their results suggest that the new requirements are less constraining for large traditional banks (such institutions show a rapid increase in CET1 capital to steady-state levels by 2012 and strong retail deposit rebuilding resulting in a relatively low required HQLA) and much more so, particularly the liquidity requirement, for the capital markets banks (such institutions show continuous building of CET1 capital over the post-crisis observation period, declines in the share of trading assets and increases in the share of HQLAs combined with efforts to increase retail deposits). Credit risk spreads rose dramatically during the financial crisis of 2008-2009. Although decreased, they remain higher and with greater dispersion (for both groups of banks) than pre-crisis. Preliminary regression analysis suggests that the market responds to changes in measured liquidity, rather than the regulatory capital ratios, when pricing bank risk (as reflected on bond spreads).
The estimation is based on historical relationship in the data. We must be cautious in extrapolating the results in a different environment.
There appears to be an arbitrage between HQLA and retail deposits. Capital markets banks and traditional banks follow different business models as evident in the analysis in this paper.
Market pricing suggests that the liquidity measures are more transparent and easier to understand. Capital ratios are not as easy to interpret.
Original research. To the authors’ knowledge, there is no paper that examines impacts of capital and liquidity regulations after the crisis at capital markets banks vs traditional banks – using both accounting data and market data.
The study of group dynamics was central to the field of organization development at its inception. More recently, there has been a move away from considering irrational…
The study of group dynamics was central to the field of organization development at its inception. More recently, there has been a move away from considering irrational and unconscious dynamics in organizational life and more attention focused on rational and observable behavior that can be measured and quantified. We introduce the tool, Beneath the Surface of the Burke-Litwin Model, that invites consideration of how the overt behavior of individuals, groups, and entire systems is linked to covert dynamics. This more comprehensive view of organizational life provides scholar-practitioners with a systemic perspective, a view of covert dynamics by organizational level, and support for the ongoing development of one’s capacity for using self-as-instrument when engaged in organization development and organization change efforts.
In this essay, we argue that understanding of meaning in relation to organizational networks warrants a more prominent place in organizational theorizing, because it…
In this essay, we argue that understanding of meaning in relation to organizational networks warrants a more prominent place in organizational theorizing, because it fulfils a distinct role in the emergence and evolution of networks. Whereas prior studies have tended to address network structures or narrative structures, we suggest that organizational processes might be better understood when addressing the role of meaning and network structures simultaneously. We explain the implications of our argument in an online context, given the growing significance of digitally enabled networks on organizational sociality, and draw on examples in the context of organizational knowledge sharing to support our argument. We conclude by introducing a communication flow model to support the further development of research on organizational meaning networks.
The pursuit of entrepreneurial opportunities is not always successful. On the one hand, entrepreneurial failure offers an invaluable opportunity for entrepreneurs to learn…
The pursuit of entrepreneurial opportunities is not always successful. On the one hand, entrepreneurial failure offers an invaluable opportunity for entrepreneurs to learn about their ventures and themselves. On the other hand, entrepreneurial failure is associated with substantial financial, psychological, and social costs. When entrepreneurs fail to learn from failure, the potential value of this experience is not fully utilized and these costs will have been incurred in vain. In this chapter, the authors investigate how the stigma of failure exacerbates the various costs of failure, thereby making learning from failure much more difficult. The authors combine an analysis of interviews of 20 entrepreneurs (who had, at the time of interview, experienced failure) with an examination of archival data reflecting the legal and cultural environment around their ventures. The authors find that stigma worsens the entrepreneurs’ experience of failure, hinders their transformation of failure experience, and eventually prevents them from utilizing the lessons learnt from failure in their future entrepreneurial activities. The authors discuss the implications of the findings for the entrepreneurship research and economic policies.
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used…
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:
This study compares the nature of job satisfaction and organization commitment of employees in a United States manufacturing plant to employees in a Mexico maquiladora…
This study compares the nature of job satisfaction and organization commitment of employees in a United States manufacturing plant to employees in a Mexico maquiladora manufacturing plant. Demographic and job related variables were measured and used in a regression analysis to explain job satisfaction and organization commitment in both plants. Results indicate that significant differences exist. The regression models for the constructs, job satisfaction, and organization commitment in both countries are presented.
Conflict resolution theory and practice have often neglected the contributions of women in peacebuilding. To obtain a more balanced perspective, the work of women's…
Conflict resolution theory and practice have often neglected the contributions of women in peacebuilding. To obtain a more balanced perspective, the work of women's movements, peace movements, and other social movements have attempted to highlight the importance of women's roles in society and their active participation in peacemaking activities throughout the world. This study hopes to contribute to recognizing gender in conflict resolution by examining the rituals of conflict resolution in Laos and the legacy of women working for peace. Through this gender lens, it highlights the importance of Lao women's work in the soukhouan ceremony, a conflict resolution ritual that is integral to Lao culture. The soukhouan ritual demonstrates characteristics that are vital to any peacebuilding effort, specifically how women are actively working to repair harm, restore relationships, and organize support networks that are essential for reconciliation in communities experiencing conflict. This research adds to conflict resolution literature that validates how women are playing a vital role in all stages of peacebuilding.
The purpose of this paper is to examine how social sustainability is considered in the study of supply chain management, thereby identifying key areas for future…
The purpose of this paper is to examine how social sustainability is considered in the study of supply chain management, thereby identifying key areas for future researchers to develop.
A systematic literature review of 109 studies is conducted. The papers have been analysed with a particular focus on their definition of social sustainability, research methods used, the central themes covered and the evolution of the debate including theories and the main findings.
Findings show that, first, researchers have thus far focused on principles for managing social change, developing measures for performance, identifying drivers and barriers, with few studies considering the social practices, particularly at the micro level and in the context of small and medium-sized enterprises. Second, findings also reveal that there is less consideration of the suppliers’, as opposed to the buyers’, perspective.
This review focuses only on social sustainability within supply chain management, without considering the economic and environmental dimensions.
This review provides the key themes and areas for managers/practitioners to consider when implementing social sustainability in supply chains. It also provides insights into under-researched areas together with the need for future researchers to move beyond frameworks and develop more tools and instruments for measuring social performance in practice.
This paper is one of the few studies that consider the social dimension of sustainability exclusively within the context of supply chains, providing insights and implications for further research.
Online communities form a challenging and still-evolving field for social network research. We highlight two themes that are at the core of social network literature…
Online communities form a challenging and still-evolving field for social network research. We highlight two themes that are at the core of social network literature: formative processes and structures, and discuss how these might be relevant in the context of online communities. Processes of tie formation might evolve differently in online communities. Second, we discuss how network structures emerge in different ways than previously studied, and should therefore be interpreted differently.