Search results

This paper aims to highlight some of the more important changes in US prudential regulation and their implications for the operation of large foreign banking organizations (FBOs) in the USA.

This paper begins with a summary of the regulatory status of FBOs prior to the crisis. It then discusses developments during the US financial crisis of 2007-2009 that motivated stricter US prudential regulation. The third part discusses some major post-crisis changes in prudential regulation. Finally, the paper considers two areas where important changes in US rules could not be applied in a straightforward manner to FBOs: non-bank financial subsidiaries and branches and agencies.

Most of the regulatory changes will enhance US financial stability, albeit in some cases at the cost of weakening FBOs consolidated risk management. However, a few of the regulatory changes have given foreign branches and agencies a significant competitive advantage in US money markets.

The paper provides an integrated analysis of both the why and the what of changes in US regulation with some discussion of the economic consequences.

The purpose of this paper is to compare and contrast the structure, regulation, and performance of banks in the EU and G‐10 countries. This enables one to identify any significant differences in the structure of banking in the nineteen separate countries comprising these two groups. The regulatory, supervisory, and deposit‐insurance environment in which banks operate in each of these countries is also compared and contrasted. This enables one to identify any significant differences in the regulatory environment that may help explain the structure of banking in the various countries. Beyond this, the effect of the overall structural and regulatory environment on individual bank performance is investigated in order to evaluate the appropriateness of existing regulations in individual countries and any proposals for reforming them. Hence, an exploratory empirical analysis based upon a sample of banks in the different countries is conducted to assess the effect of the different “regulatory regimes” on the performance of individual banks, controlling for various bank‐specific and country‐specific factors that may also affect bank performance. In this way, the paper attempts to contribute to an assessment of the appropriate balance between market and regulatory discipline to ensure that banks have sufficient opportunities to compete prudently and profitability in a competitive and global financial marketplace. In the process of conducting such an assessment, the paper necessarily provides information as to whether the U.S. is “out‐of‐step” with banking developments in other industrial countries.

The purpose of this paper is to develop an explicitly macroprudential supervisory framework designed to identify threats to financial stability use existing mechanisms to reduce the risk of these threats and to provide information to the authorities to more efficiently mitigate any instability that does arise.

This paper begins with an analysis of the limitations of microprudential regulation. It then develops a macroprudential surveillance framework focused on those financial markets that have the potential to undermine financial stability. It concludes with a discussion of how the surveillance results may be used to enhance financial stability.

The current supervisory focus on microprudential supervision of systemically important institutions is insufficient; an explicitly macroprudential focus is required.

Although this paper’s conceptual framework is applicable to all advanced financial systems the discussion of specific regulatory structures focuses on the USA.

An explicit supervisory focus on the threats posed by major financial markets is feasible and desirable.

The probability of a financial crisis and the economic damage caused by a crisis can be significantly reduced by redirecting some regulatory efforts toward in-depth analysis of major financial markets.

The paper emphasizes that macroprudential supervision must include both quantitative and detailed analysis of the qualitative aspects of key markets.

This study provides evidence regarding the performance of bank holding companies (BHC) following a series of deregulatory measures by the United States Congress. To compare performance of commercial banks before and after expanding their operations to nonbank functions, a set of hypotheses addressing BHC risk and return characteristics are proposed. Empirical results are mixed. Total risk dropped after expansion. Market risk, on the other hand, rose substantially in post‐expansion time. When returns are adjusted for risk, a marginal improvement in performance is achieved.

President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the Clinton presidency, systematically have sought to undermine this president with the goal of bringing down his presidency and running him out of office; and that they have sought non‐electoral means to remove him from office, including Travelgate, the death of Deputy White House Counsel Vincent Foster, the Filegate controversy, and the Monica Lewinsky matter. This bibliography identifies these and other means by presenting citations about these individuals and organizations that have opposed Clinton. The bibliography is divided into five sections: General; “The conspiracy stream of conspiracy commerce”, a White House‐produced “report” presenting its view of a right‐wing conspiracy against the Clinton presidency; Funding; Conservative organizations; and Publishing/media. Many of the annotations note the links among these key players.

A postmodernist look at the position of marketing at the turn of the millennium. Devises a dream‐like conversation between four professionals (a doctor, a lawyer, an accountant and a marketer). Each representative defends the status of the profession, with the focus on the marketer. Considers the opinion of others of the role of the marketer and reflects on its development and obstacles to development.

The purpose of this paper is to provide a retrospection on the importance, origins and development of the research programs in the author’s career.

The study uses an autobiographical approach.

Most of the articles, research monographs and books that constitute this research and publishing efforts can be categorized into seven distinct, but related, research programs: channels of distribution; marketing theory; marketing’s philosophy debates; macromarketing and ethics; relationship marketing; resource-advantage theory; and marketing management and strategy. The value system that has guided these research programs has been shaped by specific events that took place in the author’s formative years. This essay chronicles these events and the origins and development of the seven research programs.

Chronicling the importance, origins and development of the seven research programs will hopefully motivate and assist other scholars in developing their own research programs.

This paper presents the results of a Discrete Element Method study on the influence of particle shape on the strength and deformation behaviour of two dimensional assemblages of ellipse‐shaped particles. Assemblages of particles with varying individual particle aspect ratio were formed with a preferred bedding plane, isotropically compressed with varying isotropic confining stresses and then sheared with biaxial compression. The results indicate that Discrete Element analysis using two dimensional ellipse‐shaped particles produces mechanical behaviour which is similar both quantitatively and qualitatively to the behaviour of real granular materials. Even small particle out‐of‐roundness increases the observed macroscopic strength significantly. In systems composed of flatter particles, particle rotations are greatly inhibited. Decomposing relative contact displacements into contributions due to particle rotation and translation demonstrates that most of the displacements in round particle systems are due to individual particle rotation.

With recent increases in cybersecurity incidents, it is imperative to supplement current accounting curriculum, equip accounting graduates with sufficient knowledge and skills to assess cybersecurity risk, and learn about controls to mitigate such risks. In this chapter, the authors describe 10 teaching modules, supported by 10 professionally produced video series. The authors developed these videos for educating students on cybersecurity and the videos are available free to instructors from other institutions who wish to use them. The videos are filled with insights and advice from our two experts – one a former hacker and the other an experienced cybersecurity professional. This dialogue between two different sides provides a rich discussion that leads to answering many questions that people often have about cybersecurity. Further, in Exhibit 1, this chapter offers a framework for characterizing and analyzing some recent publicized data-breach cases, which can supplement discussion on cybersecurity modules. Instructors can add more cases to this source overtime. Finally, the authors share the analysis of feedback from students who went through the series. The results suggest that the students show interest in the topic, and videos helped them better understand the complexity of cybersecurity risk and controls.