dodd frank wall street reform and consumer protection act purpose critique implementation status and policy issues 2 world scientific now publishers series in business

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Dodd Frank Wall Street Reform And Consumer Protection Act

Author : Douglas D Evanoff
ISBN : 9789814590051
Genre : Business & Economics
File Size : 78. 88 MB
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In this volume, what are thought to be some of the more important aspects of the Dodd–Frank Act are discussed from a number of perspectives, including that of industry scholars who have been actively involved in evaluating financial regulation, regulators who are responsible for implementing the reform, financial policy experts representing think tanks and banking trade associations, congressmen and congressional staff involved with developing the legislation, and legal scholars. The volume summarizes the act, evaluates how the new regulations are being implemented and how the implementation process is progressing, and discusses modifications that, in the views of the authors, might be needed to more effectively achieve the stated goals of the legislation. Contents:Introduction and Summary of the Act:The Dodd–Frank Act: An Overview (Douglas D Evanoff and William F Moeller)Critical Assessment of the Act:Regulating Wall Street: The Dodd–Frank Act (Matthew Richardson)Financial Stability via Regulation:Financial Stability Regulation (Daniel K Tarullo)Implementing Dodd-Frank: Identifying and Mitigating Systemic Risk (Mark Van Der Weide)Implementing the Dodd–Frank Act: Progress to Date and Recommendations for the Future (Scott D O'Malia)Dodd–Frank Act Implementation: Well Into It and No Further Ahead (Wayne A Abernathy)Financial Stability via Efficient Failure Resolution:We Must Resolve to End Too-Big-To-Fail (Sheila C Bair)The Orderly Liquidation of Lehman Brothers Holdings Inc. Under the Dodd–Frank Act (Federal Deposit Insurance Corporation)Implementing Dodd–Frank: Orderly Resolution (Martin J Gruenberg)Resolving Globally Active, Systemically Important, Financial Institutions (Federal Deposit Insurance Corporation and the Bank of England)An Alternative View: Financial Stability via Bank Breakups:Do SIFIs Have a Future? (Thomas M Hoenig)Ending Taxpayer-Funded Bailouts: Dodd–Frank Promises More Than It Can Deliver (Richard W Fisher and Harvey Rosenblum)Solving the Too-Big-To-Fail Problem (William C Dudley)Consumer Protection:Partnering: The Consumer Financial Protection Bureau and State Attorneys General (Richard Cordray)Prepared Remarks Before the National Association of Attorneys General (Richard Cordray)The Consumer Financial Protection Bureau: The Solution or the Problem? (Brenden D Soucy)Was Dodd–Frank Necessary? Needed?:The Financial Crisis and “Too-Big-To-Fail” (Barney Frank and the Minority Staff of the House Financial Services Committee)A Dissent From the Majority Report of the Financial Crisis Inquiry Commission (Peter J Wallison) Readership: Financial economists, as reading material for beginner to intermediate courses in Finance and Economics for undergraduates and MBA students, general public, and policy makers interested in the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). Key Features:A dynamic read on a very topical and controversial subject — the Dodd-Frank ActContributors from various fields and each provides a different perspective of the formation, implementation and improvements for the Dodd-Frank ActBrings together in one volume the relevant people to discuss the most important policy issues affecting the financial services industryCombines both academic and industry positions on the topic in a readable formatKeywords:Dodd-Frank;Financial Regulation;Macroprudential Regulation;Systemic Risk;Volcker Rule;Resolution Authority;Consumer Protection;Central Clearinghouses (CCPs)

Contingent Convertibles Cocos

Author : George M von Furstenberg
ISBN : 9789814619912
Genre : Business & Economics
File Size : 24. 55 MB
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Contingent Convertibles (CoCos) represent debt that is subject to being converted automatically into common equity under pre-specified terms of conversion if the chosen regulatory capital ratio falls to a level triggering conversion. CoCos are that subspecies of contingent capital that references regulatory (Basel III) concepts in its triggers. From 2014, trigger points are set by common equity (Common Equity Tier 1 [CET1]) in percent of risk-weighted assets [RWA] or of more complicated measures of total exposure to a variety of risks, particularly credit risk. This is the first comprehensive book on CoCos, an innovative instrument that has attracted growing attention since it was first issued in 2009. The book is mostly concerned with going-concern ‘recovery-’ rather than ‘resolution-’ CoCos, because avoiding failure and costly disruption of financial networks without government financing is the first order of business. CoCos hold a high promise of providing fully loss-absorbing equity capital when it is most needed and least available to financial institutions. Yet, having grown out of the 2007–2009 financial crisis, they are still an ‘infant’ reform instrument in many respects. Few of the instrument's design features (or even the rating, regulatory, and tax treatments) are entirely settled. This book seeks to move the discussion toward, and then past, the main decision points so that CoCos can prove their value for contingency planning and self-insurance all over the world. It is intended to increase the ability of issuers and investors to analyze and understand the different kinds of CoCos. Contents:Foundations:IntroductionOverview of Basel III Implementation Most Relevant for CocosCocos and the Struggle to Preserve Going-Concern ValueThe Treatment of TBTF Financial Institutions in the Last CrisisStrategic Policy Objectives in Privatizing the TBTF BackstopWhy Cocos?:High-Trigger Cocos Compared with Other Bailinable DebtSelf-Insurance with Cocos Compared to Common EquityAutomatic Cocos Conversion vs. Voluntary RestructuringReasons for Having Cocos Liabilities on the Balance SheetVarieties of Cocos Design and Rationales:Determining Conversion Price and Risk Premium in CocosWrite-Down-Only CocosActual or Prospective Recovery Rates from Converting CocosGovernment Capital Injections and Bailout CocosMisuses of Cocos in Government-Led Recapitalizations of BanksPolicy Choices and Essentials for Cocos' Success:The Tax Treatment of the Interest Paid on CocosMajor Credit Rating Agencies' Approaches to Rating CocosRegulatory Requirements at Cross-PurposesConclusions and Recommendations for Cocos Design and Evaluations Readership: Researchers in Banking, Finance, and Financial Service, Finance Professionals, Law Firms, Accounting, and Financial-Consulting Firms; Portfolio and Wealth Management Specialists; Fixed-Income Investors and Fund Managers; Government Regulators of Financial Services; Libraries and Members of Research and Capital Markets Divisions at National and International Financial Institutions. Key Features:First book in existence that is principally devoted to CoCos. The new instrument, by being triggered under Basel III rules to convert to common equity when needed to enhanceloss absorbency, could greatly strengthen self-insurance and self-discipline, especially of too-big-to-fail banking institutionsLack of standardization and regulatory uncertainty, including uncertainty about the tax treatment of interest paid on CoCos and about the extent to which they satisfy capital requirements, hinder the credit-rating and adoption of this vital reform instrument. The book explains these deficiencies and points the way to how they can be overcomeKeywords:Contingent Convertibles;CoCos;Financial Reform;Financial Crisis;Risk Management;Bank Capital;Financial Services;Fixed-Income Securities;Basel IIIReviews: “Specialists who focus on CoCos in some capacity should read this book. Anyone interested in a deeper dive into how markets and regulators deal with deteriorating financial institutions will find this book provides a useful on-the-ground view often missing from books covering financial crises. von Furstenberg has materially added to this important global discussion on how to promote financial stability. ” Global Credit Review

Diagnostics For A Globalized World

Author : Sten Thore
ISBN : 9789814641456
Genre : Political Science
File Size : 58. 4 MB
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How do you gauge the accomplishments of policy and its failures? While a number of nations are successful in optimizing a socio-economic welfare function, others are woefully falling short of the optimal frontier. Diagnostics for a Globalized World proposes a reformulation of the inherited theory of economic and social policy (codified in the 1950s by Jan Tinbergen) to find a diagnostic tool in measuring the effectiveness of economic and social policy. Using a logarithmic adaptation of data envelopment analysis, the authors explain how to rank the attainment of nations of multidimensional goals such as those expressed by the UN Millennium Development Goals (MDGs) and upcoming Sustainable Development Goals (SDGs). As presented at the World Trade Organisation Public Forum 2015 (2nd October, 2015). To download the files discussed in the book, and a free working demonstration of Frontier Analyst to view the book files from our demonstration DEA software page, please go to this link: Contents:Foreword (Dr David V Gibson)PrefaceIntroductionThe Economic and Social Policy of Nations: Achievements & Failures:OverviewThe Theory of Economic and Social Policy ReconsideredRating Country Performance by Frontier AnalysisThe BeginningsDecent WorkA Fair GlobalizationNested Decision TreesCompetitivenessDisequilibrium and ChaosAppendicesA Geneva Consensus (Ruzanna Tarverdyan):OverviewBeyond GDPBeyond the Washington ConsensusToward a Sustainable GlobalizationRemembering Times Past and Honoring Four Great Scholars (Sten Thore):OverviewJan TinbergenAbe CharnesW W CooperIlya PrigogineReferencesIndex Readership: Postgraduate students taking courses in International Trade and International Relations; students of Operations Research illustrating the use of the quantitative technique called data envelopment analysis (DEA) to gauge the economic performance of nations; national and international policy makers in charge of evaluation of effectiveness and efficiency of policy interventions. Key Features:Presents a metric for the social and economic performance of nations that international organizations such as the ILO, the World Bank, UN, WTO, UNCTAD, OECD, EC, UNECE, and the World Economic Forum are currently scrambling to developExpands on earlier work published jointly with W W Cooper, ranking 102 nations on all continents in terms of their achievements of “Decent Work” and “A Fair Globalization”. The present study also includes a study of the “competitiveness” of nations, comparing the work by the US Council for Competitiveness and the World Economic ForumIncludes the last published work by the late W W Cooper, the co-founder of data envelopment analysis, actually extending his own pioneering work of 1978. Published on the occasion of Cooper's centenary in 2014, and sponsored by Cooper's long-term academic home — the IC2 Institute (Innovation, Creativity and Capital), The University of Texas at AustinKeywords:Globalization;Performance Evaluation;Data Envelopment Analysis;DEA;Millennium Development Goals;MDGs;Sustainable Development;United Nations;Rio+20;Post-2015 Agenda;Geneva Consensus;Washington Consensus; Beyond GDP;Jan Tinbergen

The History Of Marketing Science

Author : Russell S Winer
ISBN : 9789814596497
Genre : Business & Economics
File Size : 72. 88 MB
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The field of marketing science has a rich history of modeling marketing phenomena using the disciplines of economics, statistics, operations research, and other related fields. Since it is roughly 50 years from its origins, The History of Marketing Science is a timely review of the accomplishments of marketing scientists in a number of research areas. Different research areas of marketing science, such as Pricing, Internet Marketing, Diffusion Models, and Advertising, are treated to a highly readable and easy-to-digest historical analysis by the contributing authors. Each chapter provides a chronological timeline of key historical developments in the area of marketing science covered. Readers of other disciplinary backgrounds outside of economics, statistics, and operations research will be more than able to appreciate the development of marketing science as a field of research and its pioneers through the book. Contents:The History of Marketing Science: Beginnings (Scott A Neslin and Russell S Winer)Methods:Brand Choice Models (Gary J Russell)Conjoint Analysis (Vithala R Rao)Innovation Diffusion (Eitan Muller)Econometric Models (Dominique M Hanssens)Market Structure Research (Steven M Shugan)Stochastic Models of Buyer Behavior (Peter S Fader, Bruce G S Hardie and Subrata Sen)Management:Advertising Effectiveness (Gerard J Tellis)Branding and Brand Equity Models (Tulin Edem and Joffre Swait)Distribution Channels (Richard Staelin and Eunkyu Lee)Customer Relationship Management (CRM) (Scott A Neslin)Digital and Internet Marketing (Wendy W Moe and David A Schweidel)New Products Research (Donald R Lehmann and Peter N Golder)Organizational Buying Behavior (Gary L Lilien)Pricing (Russell S Winer)Sales Force Productivity Models (Murali K Mantrala)Sales Promotions (Kusum L. Ailawadi and Sunil Gupta) Readership: Students of marketing science; researchers in the science of marketing; and general public interested in 50 years of marketing science history. Key Features:Provides a roadmap of the development of 16 areas of marketing science that is useful from a historical perspective and identifies the important gaps in the literature that can provide an impetus for future researchA great resource for the main consumers of the academic marketing research literature: doctoral students, faculty, and marketing science practitioners in consulting firms and companiesEmphasizes both the role and the importance that pioneers in marketing science have had in the rapid development of the field over the past 50 yearsKeywords:Marketing;Marketing Science;Marketing Models;Quantitative Analysis;History of Marketing

Advances In Data Envelopment Analysis

Author : Rolf Färe
ISBN : 9789814644563
Genre : Business & Economics
File Size : 82. 62 MB
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Data Envelopment Analysis (DEA) is often overlooked in empirical work such as diagnostic tests to determine whether the data conform with technology which, in turn, is important in identifying technical change, or finding which types of DEA models allow data transformations, including dealing with ordinal data. Advances in Data Envelopment Analysis focuses on both theoretical developments and their applications into the measurement of productive efficiency and productivity growth, such as its application to the modelling of time substitution, i.e. the problem of how to allocate resources over time, and estimating the "value" of a Decision Making Unit (DMU). Contents:AcknowledgementsPrefaceIntroduction:The DEA Technology and Its Representation(Axiomatic) Properties of the DEA ModelAppendixLooking at the Data in DEA:Data DiagnosticsTechnical ChangeData TranslationAppendix: Distance FunctionsDEA and Intensity Variables:On Shephard's Duality TheoryAdjoint Transformations in DEAThe Diet ProblemPricing Decision Making UnitsDEA and Directional Distance Functions:Directional VectorsAggregation and Directional VectorsEndogenizing the Directional VectorAppendixDEA and Time Substitution:Theoretical UnderpinningReassessing the EU Stability and Growth PactMethodSome Limitations of Two DEA Models:The Non-Archimedean and DEASuper-Efficiency and ZerosReferences Readership: Advanced postgraduate students and researchers in operations research and economics with a particular interest in production theory and operations management. Keywords:Optimization Techniques;Multifactor Productivity;Intertemporal Firm Choice;Technological Change: Choices and Consequences;Diffusion Processes;Data Envelopment Analysis;Operations Research

Unsere Gemeinsame Zukunft

Author :
ISBN : UCAL:B3962646
Genre :
File Size : 26. 88 MB
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Transatlantic Whistleblowing

Author : Simon Gerdemann
ISBN : 9783161559167
Genre : Law
File Size : 81. 23 MB
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English summary: Simon Gerdemann explores the origins, characteristics and ramifications of whistleblowing laws in the United States, analyzes the consequences the current rise and adoption of whistleblowing laws has on European countries like Germany and shows how learning from past experiences in the United States could shape the whistleblowing laws of tomorrow. German description: "Whistleblowing" - wohl kein anderer englischsprachiger Rechtsbegriff kann in den letzten Jahren auf eine vergleichbare Karriere sowohl in der offentlichen Diskussion und internationalen Wirtschaftspraxis als auch der deutschen Rechtswissenschaft und Rechtspolitik zuruckblicken.Simon Gerdemann geht den Ursprungen und Hintergrunden des modernen Whistleblowingrechts in den USA aus historischer, empirischer und rechtsdogmatischer Perspektive auf den Grund. Er zeigt auf, wie Whistleblowing uber Landes- und Rechtsgebietsgrenzen hinweg seinen Weg nach Deutschland gefunden hat, welche aktuellen Folgen seine Diskussion und Adaption fur das deutsche Arbeits-, Gesellschafts-, Datenschutz- und Verwaltungsrecht haben und wie man die Erfahrungswerte aus 150 Jahren der Geschichte des Whistleblowingrechts in den USA nutzen kann, um die Zukunft des Whistleblowings in Deutschland sinnvoll zu gestalten.

The Big Short Wie Eine Handvoll Trader Die Welt Verzockte

Author : Michael Lewis
ISBN : 9783593393575
Genre : Political Science
File Size : 22. 19 MB
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"The Big Short" erzählt von der Erfindung einer monströsen Geldmaschine: Ein paar Hedgefond-Manager sehen das katastrophale Platzen der amerikanischen Immobilienblase nicht nur voraus, sondern sie wetten sogar im ganz großen Stil darauf. Den Kollaps des Systems befördern sie unter anderem mittels des sogenannten "shortings", Leerverkäufen von Aktien großer Investmentbanken. Doch zu jeder Wette gehört auf der anderen Seite auch einer, der sie hält. Lewis entlarvt anhand seiner Protagonisten ein System, das sich verselbständigt und mit moralischen Kategorien wie Habgier oder Maßlosigkeit längst nicht mehr zu fassen ist. Der Zusammenbruch der Finanzmärkte, so lernen wir in diesem Buch, war ein kurzer Moment der Vernunft: Der Wahnsinn hatte sich in den Jahren davor abgespielt.


Author : Adam Tooze
ISBN : 9783641192778
Genre : Business & Economics
File Size : 45. 10 MB
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Zehn Jahre danach: Der Finanzcrash und seine dramatischen Folgen Als die US-Großbank Lehman Brothers im September 2008 zusammenbrach, war dies der Tiefpunkt der Banken- und Finanzkrise. Und obwohl der totale Kollaps der Weltwirtschaft damals verhindert wurde, ist die Finanzkrise noch lange nicht Geschichte, wie der britische Historiker Adam Tooze zeigt. Er schildert, wie es zu dieser Krise der Finanzmärkte kam und welche dramatischen Folgen sie bis heute hat. Denn nicht nur ist durch die Finanzkrise die Stabilität Europas ins Wanken geraten, sie hat auch das Vertrauen in die Kraft der globalen Wirtschaftsordnung erschüttert – und so zum Aufstieg der Populisten beigetragen.

Hoffnung Wagen

Author : Barack Obama
ISBN : 9783641224240
Genre : Biography & Autobiography
File Size : 69. 4 MB
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Persönlich, glaubwürdig, visionär – Ansichten und Standpunkte des politischen Hoffnungsträgers der USA vor seiner Wahl 2008 Wie US-Senator Barack Obama im Wahljahr 2008 Millionen Menschen für sich gewann, ist Legende. Zu seinem schnell aufsteigenden Stern in hohem Maße beigetragen hat sein zuvor erschienenes Buch »Hoffnung wagen« (»The Audacity of Hope«). Hier präsentierte Obama sich als Mann der Integration, als Liberaler im positiven Sinn mit klaren Positionen. Uns allen machte er Hoffnung auf eine Renaissance des »besseren Amerika«. Nicht wenige wünschen sich Barack Obama heute sehnsüchtig zurück ins Weiße Haus.

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