To see the other types of publications on this topic, follow the link: Financial Stability Committee.
Journal articles on the topic 'Financial Stability Committee'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Financial Stability Committee.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Farmer, Roger E. A. "Financial Stability and the Role of the Financial Policy Committee." Manchester School 82 (August 21, 2014): 35–43. http://dx.doi.org/10.1111/manc.12070.
Full text
2
Schonhardt-Bailey, Cheryl. "Nonverbal contention and contempt in U.K. parliamentary oversight hearings on fiscal and monetary policy." Politics and the Life Sciences 36, no. 1 (2017): 27–46. http://dx.doi.org/10.1017/pls.2017.7.
Full textAbstract:
In parliamentary committee oversight hearings on fiscal policy, monetary policy, and financial stability, where verbal deliberation is the focus, nonverbal communication may be crucial in the acceptance or rejection of arguments proffered by policymakers. Systematic qualitative coding of these hearings in the 2010–15 U.K. Parliament finds the following: (1) facial expressions, particularly in the form of anger and contempt, are more prevalent in fiscal policy hearings, where backbench parliamentarians hold frontbench parliamentarians to account, than in monetary policy or financial stability hearings, where the witnesses being held to account are unelected policy experts; (2) comparing committees across chambers, hearings in the House of Lords committee yield more reassuring facial expressions relative to hearings in the House of Commons committee, suggesting a more relaxed and less adversarial context in the former; and (3) central bank witnesses appearing before both the Lords and Commons committees tend toward expressions of appeasement, suggesting a willingness to defer to Parliament.
3
Tjen, Fenny, Tigor Sitorus, and Rina Nur Chasanah. "Financial Stability, Leverage, Ineffective Monitoring, Independent Audit Committee, and the Fraudulent Financial Statement." International Research Journal of Business Studies 13, no. 2 (August 20, 2020): 161–72. http://dx.doi.org/10.21632/irjbs.13.2.161-172.
Full textAbstract:
This study aims to develop prior empirical model research of factors influence toward fraudulent financial statement and determine some element of fraud triangle that are financial stability, Leverage , ineffective monitoring and one element of Good Corporate Governance that is independent audit committee influence to fraudulent financial statement. This research topic is important because investors need earnings information as a basic for making investment decision and fraudulent financial statement may affect quality of earnings information received by investors. Data obtained from financial statement of mining company period 2011-2015, data were analyzed with multiple linier regressions with 150 samples collected by purposive sampling technique. Then the authors used Micro soft Excel and SPSS version 24 for processing and analyzing samples. The results showed only financial stability that has a significant influence on fraudulent financial statement, while Leverage, ineffective monitoring and independent audit committee partially has not significant influence toward fraudulent financial statement.
4
Zubair, Abdul, and Itari Tuner. "BOARD ATTRIBUTES AND CREDIT RISK EXPOSURE OF LISTED FINANCIAL SERVICE FIRMS IN NIGERIA: THE MODERATING EFFECT OF RISK COMMITTEE." International Journal of Development Strategies in Humanities, Management and Social Sciences 12, no. 1 (January 12, 2022): 24–40. http://dx.doi.org/10.48028/iiprds/ijdshmss.v12.i1.04.
Full textAbstract:
The existing risk governance in the financial service firms has not been able to ensure stability and sufficient performances, which resulted in excessive credit risk taking in the Nigerian financial institutions. This study examined the moderating effects of risk committee on the relationship between board of directors’ attributes and credit risk exposure of listed financial service firms in Nigeria. The study used secondary data for a period of 10 years (2010-2019) of a sample of 29 financial service firms. Panel multiple regression technique of data analysis was applied, and the study found after controlling for firm size, firm leverage and firm age that risk committee of the listed financial service firms in Nigeria has an effect on the relationships between board attributes and credit risk exposure. The study also found that there was a significant difference recorded before the moderation and after moderation of board size, board independence and board meetings with risk committee. The findings shows that the direction of the moderated variables changes after the moderation except for board gender diversity. The study also found that the level of significance of the variables changes for all the variables. This implies that the variables are affected when they are moderated with the risk committee. The study therefore recommends that the CBN, SEC and the board of directors of listed financial service firms should review the structure and composition of the risk committees of financial institutions in Nigeria.
5
Sari, Maylia Pramono, Nindya Pramasheilla, Fachrurrozie, Trisni Suryarini, and Imang Dapit Pamungkas. "Analysis of Fraudulent Financial Reporting With the Role of KAP Big Four as a Moderation Variable: Crowe's Fraud's Pentagon Theory." International Journal of Financial Research 11, no. 5 (September 22, 2020): 180. http://dx.doi.org/10.5430/ijfr.v11n5p180.
Full textAbstract:
The purpose of this study is to provide empirical evidence of pentagon fraud risk factors sush as financial targets, financial stability, number of audit committee members, nature of industry, change in auditors, auditor opinion, change in director, proportion of the independent commissary, frequent number of CEO pictures, and CEO duality on fraudulent financial reporting with KAP big four as a moderating variable. The samples in this study were all state-owned companies listed on the Indonesia Stock Exchange in 2014-2018. The purposive sampling technique was used in sampling so that 55 companies were obtained. This study uses logistic regression analysis techniques with SPSS version 26. The results of the study indicate that financial stability and the auditor's opinion influence the fraudulent financial reporting. However, financial targets, number of audit committee members, nature of industry, change in auditors, change in director, proportion of the independent commissary, frequent number of CEO pictures, and CEO duality not effect on fraudulent financial reporting.
6
Rawaa Ahmad Yousif, Rawaa Ahmad Yousif. "Measurement and analysis of factors that affecting the financial stability of private banks registered in the Iraq Stock Exchange for the period (2017-2013): قياس وتحليل العوامل المؤثرة في الاستقرار المالي للمصارف الأهلية المسجلة في سوق العراق للأوراق المالية للمدة (2013-2017)." مجلة العلوم الإقتصادية و الإدارية و القانونية 5, no. 18 (September 28, 2021): 176–61. http://dx.doi.org/10.26389/ajsrp.r230121.
Full textAbstract:
The objective of this study was to measure the banking factors (capital adequacy, credit capacity, and revenue capacity) and to show their impact on the banking stability of the private banks registered in the Iraq Stock Exchange. Where the bank credit represents the most important source of bank money in terms of achieving profits and the most exposed to risks, which is reflected in the bank’s business and its financial indicators. Also, achieving ratio (adequacy of banking capital) corresponded with the guidelines of the Basel Committee for is one of the top concerns of the banking administration. Each of the (z_score) and multiple linear regression models were used to measure the stability of banks and calculated the impact of the study variables on financial stability. The research sample consisted of (6) private banks, these banks are apart of 44 private banks of registered in Iraq Stock Exchange which are operating in Iraq. The research reached to set of conclusions, including that achieving financial stability for banks depends mainly on strengthening the adequacy of capital and then its ability to achieve profits. Also, the research recommended that banks implement the decisions of the Basel Committee (first, second and third) that contribute to enhancing the financial stability of banks.
7
Benink, Harald A., and Reinhard H. Schmidt. "Das European Shadow Financial Regulatory Committee: Ein Beitrag zur Regulierungskultur in Europa." Perspektiven der Wirtschaftspolitik 1, no. 3 (August 2000): 319–35. http://dx.doi.org/10.1111/1468-2516.00020.
Full textAbstract:
AbstractThe turbulence in the international financial markets in the 1980s inspired the idea that independent academics might be in a position to make a contribution to the improvement of regulation and thus ultimately also to the stability of the national financial sector in the United States. This led to the creation of the US “Shadow Financial Regulatory Committee“, a group of academics and other independent experts working in the field of financial regulation, which meets regularly and issues statements concerning conceptual as well as current issues in financial regulation. Two years ago, a similar shadow committee was founded in Europe. It is composed of members from 11 different countries. The special problems of financial regulation in Europe, as well as the special features of the European Shadow Financial Regulatory Committee (ESFRC), derive from the fact that despite the trend towards economic and political integration, Europe is still a collection of different nations with different institutional set-ups and political and economic traditions. In this paper, Harald Benink, chairman of the ESFRC, and Reinhard H. Schmidt, one of the two German members, describe the origin, the objectives and the functioning of the committee and the thrust of its recommendations.
8
Narew, Ignasius, Dianah Zuhroh, and Harmono Harmono. "ANALISIS DIAMOND FRAUD THEORY DALAM MENDETEKSI KECURANGAN LAPORAN KEUANGAN Studi Kasus Pada Industri Keuangan Dan Industri Manufaktur Yang Terdaftar Di Bursa Efek Indonesia." Jurnal Akuntansi Trisakti 8, no. 2 (September 30, 2021): 317–42. http://dx.doi.org/10.25105/jat.v8i2.10129.
Full textAbstract:
Fraud is a threat to an entity and is a problem that continues to this day. Thus the purpose of this study is to examine the effect of variables from elements of the diamond fraud theory which include financial stability, external pressure, financial targets, personal financial needs, number of audit committee members, nature of industry, auditor turnover, and auditor turnover on fraudulent financial statement of financial and manufacturing industry companies listed on the Indonesia Stock Exchange. The samples used in this study were 67 financial industry companies and 67 manufacturing industrial companies in the 2014-2019 period. The data were analyzed using logistic regression because the fraudulent financial statement variable in this study is a dummy variable whose determination is based on the calculation of the Altman Z Score. The findings of this study indicate that of the 8 elements of the diamond fraud theory variable, only external pressure and financial target variables have an effect on fraudulent financial statements in financial industry companies, while in the manufacturing industry only external pressure and nature of industry variables have a significant effect. Keywords :diamond fraud theory, fraudulent financial statement, financial stability, personal financial need, number of audit committee members, nature of industry, change of auditors, and change of directors
9
Abdul Karim, Norzitah, Amirul Afiff Muhamat, Azreen Roslan, Sharifah Faigah Syed Alwi, and Mohamad Nizam Jaafar. "Bank Stability Measures in Dual Banking System: A Critical Review." ADVANCES IN BUSINESS RESEARCH INTERNATIONAL JOURNAL 5, no. 2 (September 30, 2019): 59. http://dx.doi.org/10.24191/abrij.v5i2.9992.
Full textAbstract:
The 2007-2009 Global Financial Crisis showed that despite reported as ‘healthy’ financial institution prior to crisis had indeed suffered many problems including liquidity during the crisis. Thus, there is confusion on the healthy financial institutions, leading to loss of confidence on the overall stability of the banking system. Thus, there is an urgent need to review the current measures of financial as well as banking stability. This paper aims to look at the definition of ‘stability’ used in the academic researches and by different regulatory bodies, like International Monetary Fund, Basel Committee for Banking Supervision (BCBS) and central banks in selected countries with dual banking systems. It is then, critically review indicators used as measures of financial as well as banking stability. This review is hope to identify areas of strengths as well as weaknesses of the current measures of stability and serves as foundation for further research in future.
10
Ochwat, Michał. "Prawne formy działania Komitetu Stabilności Finansowej." Przegląd Prawa i Administracji 115 (February 26, 2019): 107–29. http://dx.doi.org/10.19195/0137-1134.115.8.
Full textAbstract:
LEGAL FORMS OF ACTIVITIES OF THE FINANCIAL STABILITY COMMITTEEThe basic aim of this study is to present the nature of the legal forms of administration activities granted by the legislator, applied by the Financial Stability Committee [Komitet Stabilności Finansowej] in the light of administrative law. The specificity of conduct of macroprudential policy and supervision in Poland as well as in compared legal systems is primarily based on the use of forms of non-imperative nature, and that is why it is reasonable to examine what the effectiveness of this mechanism of impact on financial market institutions is and whether in this context it is possible to implement the goal of financial stability.
11
Marie, Mohamed, Hany Kamel, and Israa Elbendary. "How does internal governance affect banks’ financial stability? Empirical evidence from Egypt." International Journal of Disclosure and Governance 18, no. 3 (February 23, 2021): 240–55. http://dx.doi.org/10.1057/s41310-021-00110-8.
Full textAbstract:
AbstractThis paper investigates whether internal governance mechanisms were associated with the financial stability of Egyptian banks over the period 2010–2019. To this end, a GMM regression analysis was employed using 252 firm-year observations. The results, in general, indicate that the level of banks’ financial stability is positively associated with board size, board meetings, and board gender. In contrast, the results show that board education and the ownership of shares by directors are negatively associated with banks’ financial stability. More interestingly, our results demonstrate that higher financial stability is significantly associated with lower board independence, the presence of CEO duality, and fewer audit committee meetings. These striking results can be attributed to the argument that the presence of independent directors on the board may reduce the CEO’s willingness to share information with board members, causing a high level of uncertainty in the decision-making process, which ultimately leads to a reduction in the financial stability of their bank.
12
Indriyani, Ely, and Dhini Suryandari. "DETECTION OF FRAUDULENT FINANCIAL STATEMENT THROUGH PENTAGON THEORY WITH AUDIT COMMITTEE AS MODERATING." EAJ (Economic and Accounting Journal) 4, no. 1 (April 15, 2021): 35. http://dx.doi.org/10.32493/eaj.v4i1.y2021.p35-47.
Full textAbstract:
This study aims to examine financial targets, financial stability, external pressure, personal financial needs, effective monitoring, nature of industry, total accruals, change of directors, and CEO duality in detecting fraudulent financial statements with the audit committee as the moderating variable. The population of this research is 20 state-owned companies listed on the Indonesia Stock Exchange (BEI) in 2014-2018. Sampling using saturated sampling technique and obtained a final sample of 100 units of analysis. Data collection using documentation techniques. The data analysis technique used regression analysis and Moderated Regression Analysis (MRA). The results of this study indicate that external pressure and the nature of industry have a significant positive effect on the detection of fraudulent financial statements. The audit committee is able to moderate the influence of financial targets, external pressure, nature of industry, and change of directors on the detection of fraudulent financial statements
13
Lastanti, Hexana Sri. "ROLE OF AUDIT COMMITTEE IN THE FRAUD PENTAGON AND FINANCIAL STATEMENT FRAUD." International Journal of Contemporary Accounting 2, no. 1 (July 2, 2020): 77. http://dx.doi.org/10.25105/ijca.v2i1.7163.
Full textAbstract:
<p><em>The research aims to detect financial statement fraud by means of Fraud Pentagon, with Audit Committee as a moderating variable. Variables applied in this research are a dependent variable in form of Financial Statement Fraud, an independent variable in form of Fraud Pentagon consisting of Pressure, Opportunity, Rationalization, Competence or Capability and, Arrogance factors, and Audit Committee as a moderating variable. Meanwhile, this research analyzes 49 manufacturing companies listed on Indonesia Stock Exchange (IDX) during 2016-2018 as the research sample and conducts 149 observations by means of a purposive sampling method. The research finds out that Pressure, Opportunity, and Rationalization determine Financial Statement Fraud with respect to the existence or inexistence of moderation by the size of Audit Committee. Other factors (i.e., Capability and Arrogance) most likely are insignificant to Financial Statement Fraud. This research suggests that the corporate management should cautiously take into account the Pressure factor measured by financial stability, the Opportunity factor measured by effective monitoring, and the Rationalization factor measured by change in auditor. Those three aspects are highly significant to Financial Statement Fraud. Besides, the corporate management should also enhance the effectiveness of Audit Committee because this variable is able to magnify the effect of Pressure, Opportunity, and Rationalization factors on Financial Statement Fraud.</em></p>
14
HEATH, ROBERT. "WHY ARE THE G-20 DATA GAPS INITIATIVE AND THE SDDS PLUS RELEVANT FOR FINANCIAL STABILITY ANALYSIS?" Journal of International Commerce, Economics and Policy 04, no. 03 (October 2013): 1350018. http://dx.doi.org/10.1142/s179399331350018x.
Full textAbstract:
In the wake of the recent global crisis, the international community is giving an increased focus on stability of the financial system. With the increasing need for data sets to undertake this analysis, the question naturally arises as to what types of data are needed? While various data initiatives are underway, two initiatives at the forefront are: (1) the International Monetary Fund/Financial Stability Board Group of Twenty (IMF/FSB G-20) Data Gaps Initiative (DGI) which is endorsed by the G-20 Finance Ministers and Central Bank Governors as well as the IMF's International Monetary and Financial Committee and (2) the new Special Data Dissemination Standard (SDDS) Plus, aimed particularly at economies with systemically important financial sectors. This paper explains the relevance of the DGI for financial stability analysis and the close link with the SDDS Plus.
15
Amine, Bakkeri. "Contribution of Governance to Ensure the Stability of Islamic Banks: A Panel Data Analysis." International Journal of Accounting and Financial Reporting 8, no. 3 (July 24, 2018): 140. http://dx.doi.org/10.5296/ijafr.v8i3.13333.
Full textAbstract:
The succession of crises imposed the need to establish the «Governance best practice ». This article tries to illustrate empirically the contribution of the mechanisms of the governance to ensure the stability of Islamic Financial Institutions. Using Zscore as a stability and solidity of IFI, our study focus on one sample of 30 Islamic banks taking place in 16 countries in North Africa and the Middle East shows that the size and the independence of the Board, the competence of the audit committee and the remuneration constitute the mechanisms helping to insure the stability of Islamic Financial Institutions. The duality seems to affect negatively the stability of the Islamic banks.
16
Susanto, Rudy, and Zainal Arifin H. Masri. "Peran Lembaga Penjamin Simpanan Dalam Pengelolaan Sistem Stabilitas Keuangan Indonesia." RELASI : JURNAL EKONOMI 16, no. 2 (July 29, 2020): 249–63. http://dx.doi.org/10.31967/relasi.v16i2.363.
Full textAbstract:
The purpose of the study is to find out: (1) The purpose of financial system stability; (2) Indicators used to declare financial system instability; (3) The work mechanism of the financial system stability committee; (4) Role and function of the IDIC in participating in managing financial system stability; (5) The maximum value of deposits guaranteed by LPS; (6) Many banks are included in the LPS oversight and actions taken by the LPS. This research uses the case study method with qualitative descriptive analysis. The results of the study: (1) There is no standard definition of financial system stability that is accepted by the international world, but at least a stable, healthy and strong financial system is able to allocate sources of funds, perform intermediary functions, carry out payments, spread risk well, prevent and resistant to disruption to the real sector and financial system; (2) There are 2 indicators, namely prudential microeconomic and macroeconomic; (3) KSSK has the duty to oversee economic indicators so that financial system stability is achieved; (4) DIC functions to guarantee customer deposits and handle failed banks; (5) Deposit guaranteed by LPS is a maximum of Rp 2 billion; (6) In 2019 there were 100 banks handled by LPS. An unstable financial system will affect the stability of the overall economic system. LPS has succeeded in arousing public trust to save.
Keywords: Financial System Stability, Financial System Crisis, KSSK, LPS
17
Bodellini, Marco. "Corporate Governance of Banks and Financial Stability: Critical Issues and Challenges Ahead." Business Law Review 39, Issue 5 (October 1, 2018): 160–65. http://dx.doi.org/10.54648/bula2018027.
Full textAbstract:
SUMMARY Inefficient and/or ineffective corporate governance arrangements of banks can end up endangering financial stability. Therefore, the efficiency of such arrangements is of paramount importance. To be efficient, corporate governance structures of banks have to put in place mechanisms allowing them to keep risks under control. With these mechanisms, indeed, decision-makers can react when risks overcome the safety thresholds by bringing them back to acceptable levels. In the aftermath of the global financial crisis of 2007– 2009, the EU legislator, following the recommendations of the Basel Committee on Banking Supervision, has adopted a number of new rules, which look apt to enhance the efficiency of banking corporate governance arrangements. However, more time is needed to assess in practice whether such new rules are effectively efficient in enabling banks to manage risk.
18
Kowalczyk, Kinga. "Uprawnienia i obowiązki Komitetu Stabilności Finansowej w zakresie nadzoru makroostrożnościowego nad systemem finansowym w Polsce." Przegląd Ustawodawstwa Gospodarczego 2019, no. 5 (May 20, 2019): 15–19. http://dx.doi.org/10.33226/0137-5490.2019.5.3.
Full text
19
RIZANI, Fahmi, and Novita WeningTyas RESPATI. "Factors Influencing the Presentation of Fraudulent Financial Reporting in Indonesia." Journal of Advanced Research in Law and Economics 9, no. 1 (September 25, 2018): 254. http://dx.doi.org/10.14505//jarle.v9.1(31).31.
Full textAbstract:
This study examines the factors that influence the preparation and presentation of fraudulent financial statements basing on the fraud triangle theory. The purpose of this research is to examine and analyze the influences of financial stability (asset change), external pressure, personal financial need (insider ownership), financial targets, ineffective monitoring (by audit committee), and rationalization (auditor’s opinion) on making fraudulent financial statements. The population in this study is a manufacturing company listed on the Indonesia Stock Exchange in 2013 to2015. Sample selection is by purposive sampling. Data used in the analysis was of 147 companies. The data analysis technique for hypothesis testing was by logistic regression analysis. Results of this research indicate that financial stability, external pressure, personal financial need, and rationalization have no significant effect on making fraudulent financial statements. Although the results of this study can not prove the factors that affect fraud in the presentation of financial statements, but companies need to be vigilant to prevent fraud in the presentation of financial statements. Companies must be able to perform early detection of the occurrence of fraudulent financial statements for the survival of the entity.
20
Nasir, Muhammad Ali, Milton Yagob, Alaa Solimanc, and Junjie Wud. "Institutional Design, Macroeconomic Policy Coordination and Implications for the Financial Sector in the UK." Journal of Central Banking Theory and Practice 6, no. 3 (September 26, 2017): 95–126. http://dx.doi.org/10.1515/jcbtp-2017-0022.
Full textAbstract:
AbstractThis study has analysed the implications of institutional design of macroeconomic policy making institutions for the macroeconomic policy interaction and financial sector in the United Kingdom. Employing a Vector Error Correction (VEC) model and using monthly data from January 1985 to August 2008 we found that the changes in institutional arrangement and design of policy making authorities appeared to be a major contributing factor in dynamics of association between policy coordination/combination and financial sector. It was also found that the independence of the Bank of England (BoE) and withdrawal from the Exchange Rate Mechanism led to the increase in macroeconomic policy maker’s ability to coordinate and restore financial stability. The results imply that although institutional autonomy in the form of instrument independence (monetary policy decisions) could bring financial stability, there is a strong necessity for coordination, even in Post-MPC (Monetary Policy Committee) and the BoE independence.
21
Shubbar, Hadir H., and Andrey V. Guirinsky. "Contents and principles of stability of the banking system." RUDN Journal of Economics 27, no. 1 (December 15, 2019): 63–71. http://dx.doi.org/10.22363/2313-2329-2019-27-1-63-71.
Full textAbstract:
The main approaches to understanding the essence of “stability of banking system” are conducted in the article. The basic principles are also given, inherent in a stable banking system. Further, the main factors affecting the stability of the banking system are considered. The article determined the components of ensuring the assessment of the bank’s financial stability. The basic principles of effective banking supervision are the actual minimum standard for prudent regulation and supervision of banks and banking systems. Initially issued by the Basel Committee on Banking Supervision in 1997, they are used by countries as a guide to assess the quality of their surveillance systems and to determine future work towards achieving a basic level of rational oversight practices. The core principles are also used by the International Monetary Fund (IMF) and the World Bank in the context of the Financial Sector Assessment Program (FSAP) to assess the effectiveness of banking supervisory systems and country practices.
22
Coluccia, Daniela, Stefano Fontana, Elvira Anna Graziano, Matteo Rossi, and Silvia Solimene. "Does risk culture affect banks’ volatility? The case of the G-SIBs." Corporate Ownership and Control 15, no. 1 (2017): 33–43. http://dx.doi.org/10.22495/cocv15i1art3.
Full textAbstract:
The recent financial crisis highlights the weaknesses of the traditional measures of risk in the banking sector, as Banking Authorities have missed considering the behavioural aspect of the risk culture, which is an essential tool for the value creation process of risk management (Financial Stability Board, 2014; Carretta et al., 2015; Schwizer, 2013; Guiso, Sapienza and Zingales, 2015), usually measured using the survey method. Our paper addresses a central question: What is an alternative measure of risk that estimates the banking risk-taking behaviour, also considering their risk culture? By analysing a panel of the thirty Global Systematically Important Banks (G-SIBs) from 2006 and 2013, our paper provides empirical evidence that the presence of a Risk Committee, the size of the Risk Committee and the number of the Risk Committee’s meetings have a positive impact on a bank’s volatility. Using multiple regression analysis on panel data, we verify the relationship between the bank asset risk and explicative variables that measure risk governance, banks’ size and traditional banks’ risk indicators. Our study extends the literature by providing evidence that separates RCs as having a significant impact on reducing firms’ volatility and as being an important risk governance tool in the hands of boards. Moreover, given the recent emphasis of regulatory bodies on strengthening the risk management and risk reporting systems of financial firms and the overwhelming trend of firms to form a separate RC, our study responds to the opportunity to investigate this relationship.
23
Hindmoor, Andrew, and Allan McConnell. "Who saw it coming? The UK’s great financial crisis." Journal of Public Policy 35, no. 1 (February 21, 2014): 63–96. http://dx.doi.org/10.1017/s0143814x1400004x.
Full textAbstract:
AbstractWho foresaw the UK banking crisis? This paper addresses this issue through detailed empirical work on the content of the Chancellor of the Exchequer’s speeches, Bank of EnglandFinancial Stability Reports, Financial Service Authority reports and speeches by Bank of England officials, editorials in theTimesandFinancial Times, bank annual reports and financial statements, credit rating reports, share price movements, Parliamentary questions, Treasury select committee reports and the output of academic economists. We find that few people inside or outside government recognised the existence of significant financial vulnerabilities in the financial system in the years prior to the collapse of Northern Rock in September 2007. We use the conceptual lenses of individual, institutional and paradigmatic pathologies to provide explanations for this failure to detect looming crisis conditions. We argue ultimately that regulators and commentators were blinded by faith in market forces and the risk-tempering properties of securitisation.
24
Vasileiou, Evangelos, and Themistoclis Pantos. "What do the value-at-risk measure and the respective legislative framework really offer to financial stability? Critical views and pro-cyclicality." European Journal of Economics and Economic Policies: Intervention 17, no. 1 (April 17, 2020): 39–60. http://dx.doi.org/10.4337/ejeep.2019.00040.
Full textAbstract:
In this paper, we examine how value at risk (VaR) contributes to the financial market's stability. We apply the Guidelines on Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS of the Committee of European Securities Regulators (CESR 2010) to the main indices of the 12 stock markets of the countries that have used the euro as their official currency since its initial circulation. We show that gaps in the legislative framework give incentives to investment funds to adopt conventional models for the VaR estimation in order to avoid the increased costs that the advanced models involve. For this reason, we apply the commonly used historical simulation VaR (HVaR) model, which is: (i) taught at most finance classes; (ii) widely applied in the financial industry; and (iii) accepted by CESR (2010). The empirical evidence shows the HVaR does not really contribute to financial stability, and the legislative framework does not offer the appropriate guidance. The HVaR model is not representative of the real financial risk, and does not give any signal for trends in the near future. The HVaR is absolutely backward-looking and this increases the stock market's overreaction. The fact that the suggested confidence level in CESR (2010) is set at 99 percent leads to hidden pro-cyclicality. Scholars and researchers should focus on issues such as the abovementioned, otherwise the VaR estimations will become, sooner or later, just a formality, and such conventional statistical measures rarely contribute to financial stability.
25
Vasileiou, Evangelos, and Themistoclis Pantos. "What do the value-at-risk measure and the respective legislative framework really offer to financial stability? Critical views and pro-cyclicality." European Journal of Economics and Economic Policies: Intervention 17, no. 1 (April 17, 2020): 39–60. http://dx.doi.org/10.4337/ejeep.2019.0040.
Full textAbstract:
In this paper, we examine how value at risk (VaR) contributes to the financial market's stability. We apply the Guidelines on Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS of the Committee of European Securities Regulators (CESR 2010) to the main indices of the 12 stock markets of the countries that have used the euro as their official currency since its initial circulation. We show that gaps in the legislative framework give incentives to investment funds to adopt conventional models for the VaR estimation in order to avoid the increased costs that the advanced models involve. For this reason, we apply the commonly used historical simulation VaR (HVaR) model, which is: (i) taught at most finance classes; (ii) widely applied in the financial industry; and (iii) accepted by CESR (2010). The empirical evidence shows the HVaR does not really contribute to financial stability, and the legislative framework does not offer the appropriate guidance. The HVaR model is not representative of the real financial risk, and does not give any signal for trends in the near future. The HVaR is absolutely backward-looking and this increases the stock market's overreaction. The fact that the suggested confidence level in CESR (2010) is set at 99 percent leads to hidden pro-cyclicality. Scholars and researchers should focus on issues such as the abovementioned, otherwise the VaR estimations will become, sooner or later, just a formality, and such conventional statistical measures rarely contribute to financial stability.
26
Farmer, Roger E. A. "Unwinding: A Tale of Corridors and Floors." National Institute Economic Review 241 (August 2017): R70—R73. http://dx.doi.org/10.1177/002795011724100116.
Full textAbstract:
I discuss six tools available to monetary policy makers. Three of these have been used since the inception of central banking. Three are new and were introduced in the aftermath of the 2008 financial crisis. I argue that, when the UK Monetary Policy Committee raises the interest rate, it should maintain a large balance sheet that consists of both risky and safe assets. Further, the Bank should trade the risk composition of its balance sheet to promote the stability of asset prices.
27
Sanders, James, Giulio Lisi, and Cheryl Schonhardt-Bailey. "Themes and Topics in Parliamentary Oversight Hearings: A New Direction in Textual Data Analysis." Statistics, Politics and Policy 8, no. 2 (December 20, 2017): 153–94. http://dx.doi.org/10.1515/spp-2017-0012.
Full textAbstract:
Abstract This paper contributes to the growing empirical work on deliberation in legislatures by proposing a novel approach to analysing parliamentary hearings using both thematic and topic modelling textual analysis software. We explore variations in deliberative quality across economic policy type (fiscal policy, monetary policy and financial stability) and across parliamentary chambers (Commons and Lords) in UK select committee oversight hearings during the 2010–2015 Parliament. Our overall focus is not only to suggest a multi-method approach to the textual analysis of parliamentary data, but also to explore more substantive aspects of parliamentary oversight, such as: (1) the extent to which oversight varies between unelected and elected policy makers; and (2) whether parliamentarians conduct oversight more forcefully or more along partisan lines when they are challenging fellow politicians as opposed to central bank officials. Our findings suggest consistent differences in deliberative styles between types of hearings (fiscal, monetary, financial stability) and between chambers (Commons, Lords).
28
Cecchetti, Stephen G., Dietrich Domanski, and Goetz von Peter. "New Regulation and the New World of Global Banking." National Institute Economic Review 216 (April 2011): R29—R40. http://dx.doi.org/10.1177/0027950111411378.
Full textAbstract:
Global banks are changing. With a new set of rules come new business models. We review the international dimension of the financial crisis, centring on cross-border losses and cross-currency funding problems that prompted authorities to adopt wide-ranging rescue measures and liquidity operations. Against this background, we proceed to examine the regulatory response, focusing on the Basel III framework and the ongoing work of the Basel Committee and Financial Stability Board regarding the amount of capital banks are required to hold, restrictions on maturity transformation on banks' balance sheets and proposals to mitigate the risks posed by systemically important financial institutions. Our conclusion is that capital and liquidity regulation will have distinctly different effects on the international organisation of banks. Liquidity regulation, especially when applied locally, has the greatest potential to reshape the global banking landscape.
29
Pugliese, Sara. "Divergences between EU and US in the Financial Regulation." European Journal of Risk Regulation 7, no. 2 (June 2016): 285–89. http://dx.doi.org/10.1017/s1867299x00005699.
Full textAbstract:
Financial regulation is an issue where differences between the EU and US are highly sensitive. Indeed, EU and US apply in a different manner the financial standards adopted at international level by the Basel Committee and have different systems of financial supervision.Due to these significant differences between the two systems, it is very difficult for the EU and US to reach an agreement on common financial standards within the TTIP negotiations. Actually, as the differences in regulation between the two systems are an obstacle to the access of the financial operators of each Party to the market of the other Party, the absence of common standards in this sector could nullify the efficacy of norms of market access that will be probably contained within the TTIP.Moreover, in a risk regulation perspective, considering the weight that the US and EU financial relationship have on the global system and taking account of the effect of destabilization that could be generated by the divergent requirements imposed to the credit institutions on the two sides of the Atlantic, the lack of common financial standards between the EU and US could have a great impact on global financial stability.
30
Т. Abusharbeh, Mohammed. "The financial soundness of the Palestinian banking sector: an empirical analysis using the CAMEL system." Banks and Bank Systems 15, no. 1 (March 19, 2020): 85–97. http://dx.doi.org/10.21511/bbs.15(1).2020.09.
Full textAbstract:
The purpose of this article is to evaluate the financial soundness of commercial banks listed on the Palestine Exchange using the CAMEL rating system. A content analysis, composite rating, and a one sample t-test are applied to a sample of six local banks operating in Palestine. Secondary data were obtained from the financial statements of the banks for the period of 2007–2017 in order to conduct the research and evaluate their financial performance. The empirical test has shown that Palestinian banks adhere to the Basel Committee standards in terms of capital adequacy and that they display stability in terms of profitability and liquidity. However, the paper concludes that the operational efficiency of the banks being evaluated is “fairly managed”. Finally, the findings indicate significant differences amongst Palestinian banks in terms of performance, assessed using the CAMEL rating system. This paper suggests that the listed Palestinian banks should focus on long-term investments rather than short-term ones, and monitor their risk management practices to increase their profits and move towards sustainability and growth.
31
Yushko, Igor. "The overall efficiency of the major banks in the global financial instability." Banks and Bank Systems 11, no. 4 (December 9, 2016): 61–70. http://dx.doi.org/10.21511/bbs.11(4).2016.06.
Full textAbstract:
The urgency of the issue is due to the change of major banks functioning conditions in accordance with permanent risks, that global financial instability bears, fiscal and monetary regulation enforcement on national financial markets and from the side of supernational institutions of global financial market regulation. The aim of the paper is the research of overall efficiency of the major banks in the global financial instability. The comparative analysis of overall and individual meanings of bank products and services (earnings) sales values, net profit, assets volume, market value of major banks in researched years gave the possibility to find the tendencies of banks development taking into account global financial instability influence and institutional and regulatory foundations of national governments implementation, Financial stability council (created in Ukraine) and Basel Committee on Banking Supervision. The conditions of major global banks functioning are changing under the influence of financial supervision and institutional and regulatory requirements enforcement to banks activity financial parameters. Other factor that provokes global banks towards activity strategy change is the growth of competition both in bank sphere and non-banking institutions in connection to possibilities provided by financial innovations. The directions of further researches lie in global banking effectiveness finding in a whole from the point of view of not separate banks, or group of banks, but global banking system, which, to our mind, has already been formed. Keywords: global financial instability, effectiveness, major banks, global banking, bank efficiency. JEL Classification: F33, Е58, G21
32
Kovalenko, V., S. Sheludko, N. Radova, F. Murshudli, and K. Gonchar. "INTERNATIONAL STANDARDS FOR BANK CAPITAL REGULATION." Financial and credit activity: problems of theory and practice 1, no. 36 (February 17, 2021): 35–45. http://dx.doi.org/10.18371/fcaptp.v1i36.227609.
Full textAbstract:
The paper analyzes the evolution of the introduction of international standards for bank capital regulation.
The aim of the research is to study international standards for bank capital regulation and their impact on financial stability and sustainability of domestic banking systems.
The 2007—2009 Global Financial Crisis was perhaps the greatest banking and financial crisis since bank failures and the financial panic of the Great Depression in early 1930s. According to academics and professionals, there has been much debate over the last decade as to whether the 2007—2009 banking crisis was primarily a solvency crisis or a liquidity crisis. Capital adequacy of banks today is the main indicator of increasing society’s confidence in banking systems. The flexible and balanced implementation of Basel Committee on Banking Supervision (BCBS) recommendations on the assessment of bank capital adequacy is of particular importance in the context of the deepening economic crisis caused by COVID-19 quarantine restrictions.
Regulation of bank capital is primarily settles by the ability to execute basic functions inherent in it. A number of shocks in connection with the crisis require the renewal and search for a new paradigm of regulation, which today is focused on achieving financial stability, overcoming pro-cyclicality, especially in the banking sector. One of the latest developments in the field of bank capital regulation has been the implementation of international banking supervision standards recommended by BCBS, which have been transformed from Basel I, Basel II, Basel III, Basel 3.5 to Basel IV.
The new ideology suggests that in times of financial and economic crisis or in anticipation of growing uncertainty in the economy, it is necessary to abandon the idea of bank capital management and the creation of financial reserves to maintain liquidity and stability of financial institutions. These measures will not be able to protect the bank from default and bankruptcy. This ideology has become a new paradigm of effective banking regulation, which can be formulated as an accepted set of three vectors: risk; risk management; risk-oriented supervision.
33
Biçer, Ali Altuğ, and Imad Mohamed Feneir. "The Impact of Audit Committee Characteristics on Environmental and Social Disclosures." International Journal of Research in Business and Social Science (2147-4478) 8, no. 3 (May 10, 2019): 111–21. http://dx.doi.org/10.20525/ijrbs.v8i3.262.
Full textAbstract:
The main reasons for corporate participation in environmental and social disclosure are stability, development, and continuity through participation in protecting the environment and optimizing the use of available resources. As well as the company practices and participation in society of the most important means to create a good image of the company in the community. There is a rise demand for companies to take accountability for their environmental and societal impacts. A core role of the Audit Committee (AC) is to help the board of directors in overseeing the company's reporting policy and oversees the quality of financial reporting in the company. This study examined the impact of audit committee characteristics on the level of environmental and social disclosures in listed banks in Borsa Istanbul. The results of the study showed that there is no statistically significant relationship between the characteristics of the audit committee and the environmental and social disclosures. Consequently, these characteristics have no effect on the volume or type of disclosure and their inability to predict them.
34
Lajqi, Hysen. "BASEL III LIQUIDITY RISK AND KOSOVO BANKING SYSTEM." Knowledge International Journal 34, no. 5 (October 4, 2019): 1329–35. http://dx.doi.org/10.35120/kij34051329l.
Full textAbstract:
The financial crisis 2007-2009 prompted the Basel Committee on Banking Supervision (BCBS) to intensify its efforts to strengthen the principles and standards for capital, as well as for the measurement and management of liquidity risk. Risk management is very important in the financial system, especially in banks. Among various risks Banks face is a liquidity risk it’s managing enables Banks to fulfil their obligationsBasel III consists of set of measures internally agreed. The implementation of Basel III will considerably increase the quality of banks' capital and significantly raise the required level of their capital. In addition, it will provide a "macro prudential overlay" to better deal with systemic risk.Like all Basel Committee standards, Basel III standards are minimum requirements which apply to internationally active banks. Members are committed to implementing and applying standards in their jurisdictions within the time frame established by the Committee.To ensure that banks have sufficient liquidity to survive potential liquidity shocks, as happened few years ago, the Basel Committee has issued two new globally revised minimum standards under the Basel III rules for the first time in the banking history: LCR – Liquidity Coverage Ratio and NSFR – Net Stable Funding Ratio that contain new requirements for bank capital, as well as standardized rules in the liquidity area.Banks need to fully comply with LCR and NSFR rules by January 1, 2019, according to the Capital Requirements Directive & Capital Requirements Regulation (CRD IV & CRR) rules.Basel III rules, in the European Union attain their applicable judicial form through REGULATION (EU) No 575/2013. The regulatory package is due to enter into force on January 1st, 2014, but some provisions will be implemented gradually between 2014 and 2019 and will fully come into force on January 1st, 2019. But these rules are likely to undergo some revisions due to a proposal by European Union (EU), so implementation horizon could go being beyond 2019.Performance of the Kosovo banking sector continued to be positive, thus contributing in maintaining the financial and economic stability of the country. Kosovo’s financial system continues to be characterized with sustainable increase in all its constituent sectors. The banking sector in Kosovo as most successful story is developed by many international institutions, characterized by a large presence of foreign capital, where 89. 2% of all assets are managed by foreign banks and development is based on international standards.Banking sector continued to have good liquidity position, with the main liquidity indicators standing above the minimal level as a required by the regulation.The implementation of Basel III rules in Kosovo related to liquidity depends on the local regulator and Basel III standards.
35
Yakubovsky, V. "CONTEMPORARY INTERNATIONAL AND NATIONAL REGULATORY INSTRUMENTS OF CREDIT RISKS ABATEMENT AND THEIR IMPLEMENTATION IN UKRAINIAN BANKING SECTOR." Actual Problems of International Relations, no. 130 (2017): 95–106. http://dx.doi.org/10.17721/apmv.2017.130.0.95-106.
Full textAbstract:
Contemporary regulatory requirements and mechanisms which oriented to credit risks abatement and assurance of financial sector functioning abroad are reviewed with particulars of their implementation in national banking sector. As is demonstrated general reasons for new generation of regulatory measures of crisis resilience in financial sector are growned up from last global economy crisis which demonstrated vulnarability of main credit institutions and their failure to absorb considerable financial market fluctuations. To improve financial systems stability is the main goal of measures and instruments proposed by the international Basel committee on banking supervision as well as Directives and Regulations of the European Union, which should be implemented at the national level. Based on that last regulatory documents in this direction issued by national bank of Ukraine which are based on main international documents mentioned above are reviewed. In a generalised form statistical information on valuation and monitoring of most commonly used for collateral purposes types of assets is presented and discussed. Analyzed are main difficulties faced by valuers during providing practical activity in this field.
36
Tommaso, Silvia. "Editorial: Researching the relations between governance characteristics and sustainability." Corporate Governance and Sustainability Review 4, no. 1 (2020): 4–6. http://dx.doi.org/10.22495/cgsrv4i1editorial.
Full textAbstract:
This issue includes the papers devoted to very topical issues ranging from the influence of corporate governance on social and environmental responsibility to the impact of audit committee characteristics on earning management; from the relationship between quality of governance and quality of assets to the linkage between regulatory governance and financial stability of nations. These are issues debated in the theoretical and empirical studies of recent years that the authors of the articles in this issue examine with reference to contexts not yet explored and/or giving rise to a number of interesting and original conclusions.
37
Carbó-Valverde, Santiago, Harald A. Benink, Tom Berglund, and Clas Wihlborg. "Regulatory response to the financial crisis in Europe: recent developments (2010-2013)." Journal of Financial Economic Policy 7, no. 1 (April 7, 2015): 29–50. http://dx.doi.org/10.1108/jfep-11-2014-0071.
Full textAbstract:
Purpose – The purpose of this paper by the European Shadow Financial Regulatory Committee (ESFRC) is to provide an account of the financial crisis in Europe during the period 2010-2013 and an analysis of how the relevant authorities reacted to the crisis. Design/methodology/approach – These actions included measures taken by central banks, governments or fiscal authorities, and by regulatory or supervisory bodies. In a previous study covering the regulatory developments during the financial crisis up until 2009, issues such as the implementation of Basel III rules in Europe and the (mostly ad hoc and unilateral) resolution mechanisms set in most European countries to fight the crisis were covered. This study focuses on developments since 2010 with a focus on the concerns and actions that emerged with the sovereign debt crisis in the euro area. In particular, the transition from the European Financial Stability Facility to the European Stability Mechanism is assessed. The focus after 2012 has progressively turned to the challenges of the European banking union. Findings – These issues are jointly covered, along with some updates on the views of the ESFRC on recent advances in other areas, such as solvency regulation. All in all, the authors find that the weaknesses of the global financial system remain to be addressed, and they believe that the banking union is one of the main tools and opportunities for an improved and efficient crisis management in Europe. Originality/value – The paper aims at contributing to the study of financial regulation after the banking crisis. The experience of the euro zone in this context is assessed in this article from a wide range of perspectives.
38
Demirkan, Sebahattin, Nancy Chun Feng, Natalia Mintchik, Mikhail Pevzner, and Gregory Sierra. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on Framework for Audit Quality, Consultation Paper by the International Auditing and Assurance Standards Board." Current Issues in Auditing 7, no. 2 (June 1, 2013): C11—C22. http://dx.doi.org/10.2308/ciia-50535.
Full textAbstract:
SUMMARYOn January 15, 2013, the International Auditing and Assurance Standards Board (IAASB) solicited public comments on the exposure draft of its consultation paper entitled A Framework for Audit Quality (the Framework). The four-month comment period ended on May 15, 2013. This commentary summarizes the contributors' views on this exposure draft (the exposure draft and related information are available at: http://www.ifac.org/publications-resources/framework-audit-quality).This consultation paper makes great strides toward meeting the IAASB's strategy of “enhancing the quality of assurance” and “supporting global financial stability.” The three-by-three design (attributes of audit quality coupled with engagement, firm, and national levels; see page 24 of the Framework) and detailed outline of inputs, outputs, context, and interactions provides practitioners, regulators, and other stakeholders with a common audit-quality roadmap for implementation, communication, and research agendas. As financial systems continue to become more integrated, the Framework supports the global financial system and economic stability by providing worldwide coordination of the expectations of auditors, regulators, investors, and other stakeholders. We also believe that the Framework should be of great use to auditing academics and doctoral students, both as a teaching and research tool. Summarized below are our specific comments on specific issues raised in the consultation paper.
39
Tinambunan, Joshua Parlindungan, Tony Irawan, and Trias Andati. "Implementation of Good Corporate Governance on Financial Performance Coal Companies Moderated by Capital Structure." International Journal of Research and Review 8, no. 6 (June 15, 2021): 108–16. http://dx.doi.org/10.52403/ijrr.20210613.
Full textAbstract:
Coal mining companies is built to serve and maintain the stability of domestic coal supply, especially at PLTU so that large economics of scale can be achieved, in order for this to happen, it is necessary to have good corporate governance in order to create economic value added for the growth and development of the company. This study aims to determine how much capital structure could moderated relationship between good corporate governance and economic value added of the coal companies. The research method used is a quantitative descriptive. This study samples are coal mining company listed at indonesian exchange stock between 2015 and 2019. Moderated regression analysis was used in this study to analyze the data. The result showed that with capital structure as moderate variable, board size committee audit that has a positive significant effect on economic value added and managerial ownership has a negative significant effect. While, size board of director hasn’t significant effect Keywords: capital structure, financial performance, good corporate governance.
40
Ramskyi, Andriy, Valeria Loiko, Olena Sobolieva-Tereshchenko, Daria Loiko, and Valeriia Zharnikova. "Integration of Ukraine into the European banking system: cleaning, rebooting and Basel III." Banks and Bank Systems 12, no. 4 (December 19, 2017): 163–74. http://dx.doi.org/10.21511/bbs.12(4-1).2017.05.
Full textAbstract:
The urgency of the issue is related to changes in the Ukrainian banks’ business environment, taking into account the impact of domestic and global financial instability and the implementation of the regulatory framework for banking regulation of the National Bank of Ukraine in accordance with the Basel Committee on Banking Supervision recommendations. The main goal of this research is to analyze the degree of implementation and compliance with the Basel III regulations in Ukrainian banking system. To carry out the research, regulatory and legislative documents of the National Bank of Ukraine, the Basel Accords, statistic data of the Ukrainian banks and the National Bank of Ukraine were used. For this purpose, the analysis of main indicators of Ukrainian banks’ financial stability within the period of 2014–2017 is made. Thus, post-crisis regulatory changes have aimed at restoring bank stability. The results seem to suggest that bank regulatory changes may be repressive, for instance, cleaning and optimization of the banking system as an effective tool for anticrisis management. As a result, it was concluded that banks with foreign capital are the most stable in the banking system of Ukraine in comparison with domestic banks.
41
Megliani, Mauro. "Single-Limb Collective Action Clauses and the European Stability Mechanism Reform." European Business Law Review 32, Issue 1 (February 1, 2021): 77–92. http://dx.doi.org/10.54648/eulr2021004.
Full textAbstract:
In December 2019, the Euro Summit did not approve the amendments to the ESM Treaty because of a disagreement among Member States on debt restructuring as a requirement for stability support in the case of unsustainable debt and questionable capacity of repayment. In this context, a key role is played by single-limb CACs which permit restructuring across all the bond series. On the one hand, this facilitates the restructuring process and neutralize the blocking action of vulture funds under single series. On the other hand, this poses some problems in relation to the protection of minor bondholders. The solution to these problems may come from inserting a sort of exemption clause in the model CACs that the EU Economic and Financial Committee is mandated to draft. This scenario is now exacerbated by the social and economic effects of the Covid-19 pandemic crisis that have caused a generalised increase in sovereign indebtedness and may imply debt restructuring. ESM treaty reform, debt restructuring, single-limb CACs, protection of minor bondholders, Covid-19 crisis
42
Tahir, Safdar Husain, Muhammad Rizwan Ullah, Gulzar Ahmad, Nausheen Syed, and Alia Qadir. "Women in Top Management: Performance of Firms and Open Innovation." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 1 (March 7, 2021): 87. http://dx.doi.org/10.3390/joitmc7010087.
Full textAbstract:
The lack of women’s presence in firms’ top management positions reflects gender equity problems, especially in South Asia, including Pakistan, and contours a firm’s financial behavior. Based on the underpinning of the conceptual framework developed by a combination of fourteen femininity theories, the current study investigates women’s induction in top management and its impact on a firm’s financial behavior. We collected data from annual reports of 60 non-financial firms listed at the Pakistan Stock Exchange (PSX) for 2013–2019. The study uses the return of assets (ROA), firm’s stability (FSTB), and risk-taking behavior (RTB) as dependent variables. Meanwhile, board gender diversity (BGD), female CEO (FCEO), female director-general (FDG), and female in audit committee (FIAC) are taken as independent variables. A multiple regression diagnostics approach is applied to analyze the data. The study reveals the positive impact of BGD on ROA and FSTB. However, this effect is adverse to RTB. The FIAC shows a positive (negative) impact on ROA (RTB). It also finds a negative impact of FCEO and FDG on ROA and FSTB.
43
Lindsay, Bruce E. "An Empirical Overview of the NAREA Membership Survey." Northeastern Journal of Agricultural and Resource Economics 15, no. 2 (October 1986): 117–22. http://dx.doi.org/10.1017/s0899367x00001100.
Full textAbstract:
During the period of transition that culminated in our professional organization being renamed the Northeastern Agricultural and Resource Economics Association (formerly the Northeastern Agricultural Economics Council), discussion centered upon such issues as the composition of the executive committee, the election procedures for officers, financial stability, and membership involvement. As a result of such discussions, a questionnaire was designed to ascertain Association members’ attitudes towards the organization in three areas of interest: members’ professional background, members’ evaluation of the annual meeting, and attitudes towards our Journal. The objective of this survey was to establish attitudinal data for background information for future discussions concerning our Association.
44
Moloney, Niamh. "I. REFORM OR REVOLUTION? THE FINANCIAL CRISIS, EU FINANCIAL MARKETS LAW, AND THE EUROPEAN SECURITIES AND MARKETS AUTHORITY." International and Comparative Law Quarterly 60, no. 2 (April 2011): 521–33. http://dx.doi.org/10.1017/s0020589311000145.
Full textAbstract:
Since the outset of the financial crisis, the EU financial markets regime1 has been undergoing a period of turbulence which contrasts sharply with the period of relative stability which it briefly enjoyed over 2005–2007 and post-FSAP (Financial Services Action Plan2). The FSAP reforms had been adopted. The Committee of European Securities Regulators (CESR) had emerged as an influential actor, driving some degree of supervisory coordination and co-operation and constructing a significant soft law ‘rule-book.’ And the 2007 Lamfalussy Review suggested broad political, institutional and stakeholder satisfaction with the Lamfalussy process. There was little enthusiasm for grand adventures in institutional design, albeit that supervision, an institutionally-driven concern, was presciently if belatedly emerging as a concern of the EU institutions. The Review's main concern, however, was with strengthening the pragmatic, if somewhat haphazard, network-based, ‘supervisory convergence’ model as the means for supervising the integrating EU financial market. With respect to regulation, reflecting the wider international zeitgeist pre-crisis,3 ‘Better Regulation’ and the need for a ‘regulatory pause’ were the watchwords of a Commission which, once the massive FSAP regime was safely in place, espoused the benefits of self-regulation and highlighted the risks of intervention without impact assessment, extensive consultation and evidence of market failure.4 This was most apparent with respect to credit rating agencies,5 debt market transparency,6 hedge funds,7 and clearing and settlement.8 Institutionally, a relatively sophisticated law-making apparatus, in the form of the Lamfalussy structures, a plethora of advisory bodies and stakeholder bodies (notably FIN-NET which represents the consumer and SME interest), had been established.
45
Mohammadi, Shaban, Hadi Saeidi, and Nader Naghshbandi. "Investigating the impact of board characteristics on money laundering." Journal of Money Laundering Control 23, no. 4 (April 10, 2020): 751–67. http://dx.doi.org/10.1108/jmlc-12-2019-0101.
Full textAbstract:
Purpose The purpose of this study is to examine the effect of board characteristics on money laundering in Iranian listed companies. Design/methodology/approach This was a descriptive-correlational study, and in terms of purpose, it was an applied research. The statistical population of this study was all companies listed in Tehran Stock Exchange during the years 2012-2018. A sample of 150 companies was selected by screening method. Data analysis and hypothesis testing were performed using logistic regression and Eviews 10. Findings The results indicated that the board bonus and CEO duality (chief executive officer duality) had a significant effect on money laundering. CEO gender also had a significant effect on money laundering. Originality/value Sound management of risks related to money laundering by the board of directors is associated with stability, soundness and overall health of a country's financial system, which enables the integrity of the international financial system by meeting the Basel Committee goals, including strengthening the regulations, monitoring and improving current procedures, promoting financial stability and maintaining and enhancing a good corporate reputation; however, banks and other financial institutions are exposed to more serious risks, especially the reputation risk, operational risk, etc., if management does not play an effective role in the fight against money laundering. If management considers efficient and risk-driven policies and procedures in the fight against money laundering, then many problems and losses as well as many costs, including failure to collect receivables and to bring legal proceedings, can be prevented.
46
Prieto Muñoz, Jose Gustavo. "Governance of the Global Financial System: The Legitimacy of the BCBS 10 years after the 2008 Crisis." Journal of International Economic Law 22, no. 2 (June 1, 2019): 247–60. http://dx.doi.org/10.1093/jiel/jgz011.
Full textAbstract:
ABSTRACT This article explores the question of legitimacy that underpins Basel III. First, I present a general framework for assessing how legitimacy operates within the global financial system through an analysis of the internal and external dimensions. I next address the internal dimension, exploring the legitimacy of the Basel Committee on Banking Supervision (BCBS) as a body that exercises a type of public authority through the generation of norms/standards. I then analyse how the public law standards of transparency and accountability are currently being implemented within the BCBS system. Finally, I examine the external dimension, considering how the legitimacy of the BCBS is related to the international system. In particular, it is argued that because of the direct link between bailouts and human rights violations, the legitimacy of the BCBS is also tied to its role in promoting financial stability in the post-crisis architecture by protecting social rights within states.
47
Aikman, David, Jonathan Bridges, Anil Kashyap, and Caspar Siegert. "Would Macroprudential Regulation Have Prevented the Last Crisis?" Journal of Economic Perspectives 33, no. 1 (February 1, 2019): 107–30. http://dx.doi.org/10.1257/jep.33.1.107.
Full textAbstract:
How well equipped are today’s macroprudential regimes to deal with a rerun of the factors that led to the global financial crisis? To address the factors that made the last crisis so severe, a macroprudential regulator would need to implement policies to tackle vulnerabilities from financial system leverage, fragile funding structures, and the build-up in household indebtedness. We specify and calibrate a package of policy interventions to address these vulnerabilities—policies that include implementing the countercyclical capital buffer, requiring that banks extend the maturity of their funding, and restricting mortgage lending at high loan-to-income multiples. We then assess how well placed are two prominent macroprudential regulators, set up since the crisis, to implement such a package. The US Financial Stability Oversight Council has not been designed to implement such measures and would therefore make little difference were we to experience a rerun of the factors that preceded the last crisis. A macroprudential regulator modeled on the UK’s Financial Policy Committee stands a better chance because it has many of the necessary powers. But it too would face challenges associated with spotting build-ups in risk with sufficient prescience, acting sufficiently aggressively, and maintaining political backing for its actions.
48
Kaur, Mandeep, and Samriti Kapoor. "Basel II in India: Compliance and Challenges." Management and Labour Studies 36, no. 4 (November 2011): 299–318. http://dx.doi.org/10.1177/0258042x1103600401.
Full textAbstract:
The stability of International banking system has emerged as a key concern for regulators in rapidly changing global banking scenario. In order to strengthen the soundness and stability of banks, Basel Committee on Banking Supervision (BCBS) came out with a comprehensive, flexible and risk sensitive framework known as Basel II. This paper attempts to assess in detail the role of Reserve Bank of India, in implementation of Basel II framework in Indian banking Scenario. For this purpose, Annual reports of Reserve Bank of India for the period 2002–03 to 2009–2010 have been analyzed in detail. The study has indicated that RBI has taken significant and structural initiatives to implement the Basel II norms in Indian financial system. It also gives glimpse of New Capital Adequacy framework to strengthen the banking structure. The study further throws light on challenges faced by Indian banking industry for the purpose of envisaged implementation of Basel II Accord.
49
GIBSON, STEVYN D. "Future roles of the UK intelligence system." Review of International Studies 35, no. 4 (October 2009): 917–28. http://dx.doi.org/10.1017/s0260210509990350.
Full textAbstract:
AbstractThe UK intelligence system is engaged in three distinct roles – producing strategic assessments in the traditional way; acting as a ‘global policeman’ by monitoring terrorist and criminal networks; and raising the capability of other countries to defeat terrorist and insurgency groups. Counter-intuitively, it is perhaps the first role that is most questionable. The use of single source intelligence reporting, drawn from individuals selected principally for their willingness to share secrets, may not be the best way to analyse emerging issues such as climate change, energy security and financial stability. The Joint Intelligence Committee (JIC) may be drawing on too narrow a range of reporting to compete with increasingly sophisticated assessments from the private sector, academia and NGOs. In any event, the JIC has less impact on policy than is often imagined. The second task of ‘global networker’ is better-suited to the intelligence community's ability to combine human intelligence with communications intelligence and bulk data gathering, and is producing results. The third task of helping other countries to enforce the law and resist insurgency is proceeding on an ad hoc basis with occasional successes, but requires co-ordination across Whitehall so that improvements in the capabilities of other countries' intelligence services are accompanied by improved police and justice systems and enhanced oversight. Joint Intelligence Committee perhaps ought to be a Joint Action Committee.
50
Savage, Lawrie. "From trial to triumph: How Canada’s past financial crises helped shape a superior regulatory system." Journal of Governance and Regulation 4, no. 4 (2015): 213–48. http://dx.doi.org/10.22495/jgr_v4_i4_c1_p8.
Full textAbstract:
As anyone paying attention during the 2008–2009 financial crisis is aware, the Canadian financial system weathered the storm uniquely well. Exactly why Canada’s system remained so comparatively stable, while so many other foreign systems broke down, is a question that remains largely unsettled. One explanation may be that the regulatory system that emerged from a very specific history of prior crises had both prepared Canada well for such a crisis, and responded effectively as the crisis unfolded. But the very regulatory system that provided stability in recent years may also be at risk of becoming warped by its own success, with regulators so emboldened by the acclaim for their recent achievements that they overreach to ensure their track record remains unblemished in the future. The stunning collapse of a pair of western Canadian banks, a number of major Canadian trust companies and several insurance companies, as well as some other precarious near misses in the 1980s and 1990s, were a shock to the financial regulatory system, highlighting deficiencies that would be addressed with new regulations and, most notably, the creation of the Office of the Superintendent of Financial Institutions (OSFI). Canada’s centralized regulatory approach, through the OSFI and just four other major regulatory bodies, has proved both more elegant and effective than, for instance, the more complicated, more convoluted and more decentralized American financial-oversight system. But some regulated companies, insurers in particular, have long maintained that the concentration of power in Canada’s large banks has resulted in a one-size-fits-all regulatory approach that does not offer a relatively lighter burden for smaller institutions, potentially stifling growth. In other words, an over-emphasis on stability may be hampering market efficiency. Nor is there any economic evidence to shed light on whether those and other costs of regulating stability are justified by the costs spared by avoiding instability. Received wisdom would naturally assume that avoiding certain institutional collapses are worth any cost, but of course there must be some limits to that logic. To be clear, Canada’s regulatory model almost certainly appears to be a better-functioning one than that of many in its peer group, and the OSFI approach is gaining acceptance by many countries, particularly in emerging markets that are implementing cohesive regulatory systems for the first time, using the Canadian framework as a template. This does not, however, mean that Canada’s regulatory system cannot still be refined and improved. Suggestions for improvement include: the possibility of creating an industry-based collaboration committee — similar to the regulators’ Financial Institutions Supervisory Committee — that would monitor industry risk over time; the modernization of the Winding-up and Restructuring Act, conceived more than a century ago, to address the modern reality of immense and complex institutions of today, providing regulators the flexibility to resolve such entities when they become troubled; and the strengthening of board structures for large institutions, which remain much as they were in the 1980s, including the possibility of appointing permanent, full-time, independent directors and requirements for boards to better train directors and utilize outside expertise when warranted. Canada’s regulatory system is arguably one of the most effective in existence, but its success through the recent financial crisis is no guarantee that it will be sufficiently prepared for the next