Uninvited Us Investors Economic Consequences Of Involuntary Cross Listings

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Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings

Author : Peter Iliev
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings by : Peter Iliev

Download or read book Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings written by Peter Iliev and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the economic consequences of a recent Securities and Exchange Commission securities regulation change that grants foreign firms trading on the U.S. over-the-counter (OTC) market an automatic exemption from the reporting requirements of the 1934 Securities Act. We document that the number of voluntary (sponsored) OTC cross-listings did not increase following the regulation change, suggesting that it did not achieve its intended purpose of increasing voluntary OTC cross-listings through a reduction in compliance costs. We do find that the design of the regulation allowed financial intermediaries to create an unprecedented number of involuntary (unsponsored) OTC ADRs: 1,700 unsponsored ADR programs for 920 firms were created for companies that had previously chosen not to cross-list in the United States. Our difference-in-differences analysis based on a matched sample approach documents that foreign firms forced into the U.S. capital markets experience a significant decrease in firm value, and we further show that the decrease in firm value is related to an increase in U.S. litigation risk. We also find that depositary banks' propensity to involuntarily cross-list firms is positively related to banks' expected fee revenue, and that banks chose firms that incur high costs when involuntarily cross-listed. Our results provide evidence that securities regulation can be exploited for private gain and result in costly unintended consequences.

The Evidence and Impact of Financial Globalization

Author :
Publisher : Academic Press
ISBN 13 : 012405899X
Total Pages : 807 pages
Book Rating : 4.1/5 (24 download)

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Book Synopsis The Evidence and Impact of Financial Globalization by :

Download or read book The Evidence and Impact of Financial Globalization written by and published by Academic Press. This book was released on 2012-12-31 with total page 807 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works

Chasing the Tape

Author : Onnig H. Dombalagian
Publisher : MIT Press
ISBN 13 : 026202862X
Total Pages : 381 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Chasing the Tape by : Onnig H. Dombalagian

Download or read book Chasing the Tape written by Onnig H. Dombalagian and published by MIT Press. This book was released on 2015-03-20 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of regulation and use of information in capital markets, offering comparisons across different jurisdictions, regulated entities, and financial instruments. Financial information is a both a public resource and a commodity that market participants produce and distribute in connection with other financial products and services. Legislators, regulators, and other policy makers must therefore balance the goal of making information transparent, accessible, and useful for the collective benefit of society against the need to maintain appropriate incentives for information originators and intermediaries. In Chasing the Tape, Onnig Dombalagian examines the policy objectives and regulatory tools that shape the information production chain in capital markets in the United States, the European Union, and other jurisdictions. His analysis offers a unique cross section of capital market infrastructure, spanning different countries, regulated entities, and financial instruments. Dombalagian uses four key categories of information—issuer information, market information, information used in credit analysis, and benchmarks—to survey the market forces and regulatory regimes that govern the flow of information in capital markets. He considers the similarities and differences in regulatory aims and strategies across categories, and discusses alternative approaches proposed or adopted by scholars and policy makers. Dombalagian argues that the long-term regulatory challenges raised by economic globalization and advanced information technology will require policy makers to decouple information policy in capital markets from increasingly arbitrary historical classifications and jurisdictional boundaries.

Florida Law Review

Author :
Publisher :
ISBN 13 :
Total Pages : 604 pages
Book Rating : 4.3/5 (126 download)

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Book Synopsis Florida Law Review by :

Download or read book Florida Law Review written by and published by . This book was released on 2015-03 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Shareholder Empowerment

Author : Maria Goranova
Publisher : Springer
ISBN 13 : 1137373938
Total Pages : 519 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis Shareholder Empowerment by : Maria Goranova

Download or read book Shareholder Empowerment written by Maria Goranova and published by Springer. This book was released on 2015-12-27 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading management experts offer critical insights into the promises and illusions of shareholder empowerment, the discrepancies between theory and practice, and the challenges posed by variations in global corporate governance regimes.

Productive Equity

Author : Zia Qureshi
Publisher : Brookings Institution Press
ISBN 13 : 0815736584
Total Pages : 0 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Productive Equity by : Zia Qureshi

Download or read book Productive Equity written by Zia Qureshi and published by Brookings Institution Press. This book was released on 2019-02-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An agenda for economic growth and equity In recent decades global economic productivity has slowed, while income inequality within nations has increased. The global economic pie has been growing more slowly—and more unequally—feeding the social discontent that is so evident in much of the world today. The contributors to this volume argue that the paradox of slowing productivity growth despite booming new technologies is real, not illusory. Most discussions of these trends in productivity growth and income distribution treat them as separate problems, with independent solutions. This book by economic experts with long experience in studying the global economy and development argues that lagging productivity and growing inequality are, in fact, linked by common causes and must have common solutions. Chief among those causes are the nature of today’s technological changes and the failures of markets and policymakers to keep up with those changes. In essence, the potential benefits of technological change, which coincided with the era of accelerated globalization, have not been harnessed to foster more robust, and more inclusive, economic growth. The authors maintain that reviving productivity growth and reducing inequality are not competing objectives for policy. Rather, they propose an integrated agenda emphasizing the synergistic nature of achieving long-term productivity growth and equity. The authors call for an agenda of "productive equity" that highlights the need for innovative policies, at both the national and international levels, that take advantage of the technological changes now reshaping markets and the world of work.

Extraterritorial Jurisdiction in Theory and Practice

Author : Karl Matthias Meessen
Publisher : Martinus Nijhoff Publishers
ISBN 13 : 9789041108999
Total Pages : 294 pages
Book Rating : 4.1/5 (89 download)

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Book Synopsis Extraterritorial Jurisdiction in Theory and Practice by : Karl Matthias Meessen

Download or read book Extraterritorial Jurisdiction in Theory and Practice written by Karl Matthias Meessen and published by Martinus Nijhoff Publishers. This book was released on 1996-08-06 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work contains the proceedings of a symposium held in Dresden addressing the topic of extraterritorial jurisdiction with respect to financial services, tax, arms control, environmental law, antitrust matters and mergers and acquisitions. It provides an overview of how differently jurisdictional issues are perceived and dealt with, especially in the USA and UK. Contributions are from experts in the field. The book differs from others in the field in that it provides a resolution on extraterritorial jurisdiction. "Audience: " Civil servants, practising lawyers and academics in the field of international public law and private international law.

A Journey in the Seaboard Slave States

Author : Frederick Law Olmsted
Publisher :
ISBN 13 :
Total Pages : 760 pages
Book Rating : 4.R/5 (3 download)

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Book Synopsis A Journey in the Seaboard Slave States by : Frederick Law Olmsted

Download or read book A Journey in the Seaboard Slave States written by Frederick Law Olmsted and published by . This book was released on 1856 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Report 2020

Author : Human Rights Watch
Publisher : Seven Stories Press
ISBN 13 : 1644210061
Total Pages : 782 pages
Book Rating : 4.6/5 (442 download)

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Book Synopsis World Report 2020 by : Human Rights Watch

Download or read book World Report 2020 written by Human Rights Watch and published by Seven Stories Press. This book was released on 2020-01-28 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: The best country-by-country assessment of human rights. The human rights records of more than ninety countries and territories are put into perspective in Human Rights Watch's signature yearly report. Reflecting extensive investigative work undertaken by Human Rights Watch staff, in close partnership with domestic human rights activists, the annual World Report is an invaluable resource for journalists, diplomats, and citizens, and is a must-read for anyone interested in the fight to protect human rights in every corner of the globe.

Ernst & Young's Personal Financial Planning Guide

Author : Ernst & Young LLP
Publisher : John Wiley & Sons
ISBN 13 : 9780471697459
Total Pages : 544 pages
Book Rating : 4.6/5 (974 download)

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Book Synopsis Ernst & Young's Personal Financial Planning Guide by : Ernst & Young LLP

Download or read book Ernst & Young's Personal Financial Planning Guide written by Ernst & Young LLP and published by John Wiley & Sons. This book was released on 2004-10-06 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you want to take control of your financial future and unlock thedoors to financial success, you must have a plan that will allowyou to find good investments, reduce taxes, beat inflation, andproperly manage money. Whether you're new to financial planning or a seasoned veteran,this updated edition of Ernst & Young's Personal FinancialPlanning Guide provides valuable information and techniques you canuse to create and implement a consistent personalized financialplan. It also takes into consideration the new tax rules thataffect home ownership, saving for college, estate planning, andmany other aspects of your financial life. Filled with in-depth insight and financial planning advice, thisunique guide can help you: * Set goals * Build wealth * Manage your finances * Protect your assets * Plan your estate and investments It will also show you how to maintain a financial plan inconjunction with life events such as: * Getting married * Raising a family * Starting your own business * Aging parents * Planning for retirement Financial planning is a never-ending process, and with Ernst &Young's Personal Financial Planning Guide, you'll learn how totailor a plan to help you improve all aspects of your financiallife.

Beyond Growth

Author : Herman E. Daly
Publisher : Beacon Press
ISBN 13 : 0807047066
Total Pages : 265 pages
Book Rating : 4.8/5 (7 download)

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Book Synopsis Beyond Growth by : Herman E. Daly

Download or read book Beyond Growth written by Herman E. Daly and published by Beacon Press. This book was released on 2014-09-30 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Daly is turning economics inside out by putting the earth and its diminishing natural resources at the center of the field . . . a kind of reverse Copernican revolution in economics." --Utne Reader "Considered by most to be the dean of ecological economics, Herman E. Daly elegantly topples many shibboleths in Beyond Growth. Daly challenges the conventional notion that growth is always good, and he bucks environmentalist orthodoxy, arguing that the current focus on 'sustainable development' is misguided and that the phrase itself has become meaningless." --Mother Jones "In Beyond Growth, . . . [Daly] derides the concept of 'sustainable growth' as an oxymoron. . . . Calling Mr. Daly 'an unsung hero,' Robert Goodland, the World Bank's top environmental adviser, says, 'He has been a voice crying in the wilderness.'" --G. Pascal Zachary, The Wall Street Journal "A new book by that most far-seeing and heretical of economists, Herman Daly. For 25 years now, Daly has been thinking through a new economics that accounts for the wealth of nature, the value of community and the necessity for morality." --Donella H. Meadows, Los Angeles Times "For clarity of vision and ecological wisdom Herman Daly has no peer among contemporary economists. . . . Beyond Growth is essential reading." --David W. Orr, Oberlin College "There is no more basic ethical question than the one Herman Daly is asking." --Hal Kahn, The San Jose Mercury News "Daly's critiques of economic orthodoxy . . . deliver a powerful and much-needed jolt to conventional thinking." --Karen Pennar, Business Week Named one of a hundred "visionaries who could change your life" by the Utne Reader,Herman Daly is the recipient of many awards, including a Grawemeyer Award, the Heineken Prize for environmental science, and the "Alternative Nobel Prize," the Right Livelihood Award. He is professor at the University of Maryland's School of Public Affairs, and coauthor with John Cobb, Jr., of For the Common Good.

Culture and Public Action

Author : Vijayendra Rao
Publisher : Stanford University Press
ISBN 13 : 9780804747875
Total Pages : 462 pages
Book Rating : 4.7/5 (478 download)

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Book Synopsis Culture and Public Action by : Vijayendra Rao

Download or read book Culture and Public Action written by Vijayendra Rao and published by Stanford University Press. This book was released on 2004 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: Led by Amartya Sen, Mary Douglas, and Arjun Appadurai, the distinguished anthropologists and economists in this book forcefully argue that culture is central to development, and present a framework for incorporating culture into development discourse. For further information on the book and related essays, please visit www.cultureandpublicaction.org.

Crude Existence

Author : Kristin Reed
Publisher : Univ of California Press
ISBN 13 : 0520258223
Total Pages : 338 pages
Book Rating : 4.5/5 (22 download)

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Book Synopsis Crude Existence by : Kristin Reed

Download or read book Crude Existence written by Kristin Reed and published by Univ of California Press. This book was released on 2009-11-15 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: After decades of civil war and instability, the African country of Angola is experiencing a spectacular economic boom thanks to its most valuable natural resource: oil. Focusing on the everyday realities of people living in the extraction zones, Reed explores the exclusion, degradation, and violence that are the fruits of petrocapitalism in Angola.

Innovative Business Practices

Author : Alkis Thrassou
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443849936
Total Pages : 403 pages
Book Rating : 4.4/5 (438 download)

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Book Synopsis Innovative Business Practices by : Alkis Thrassou

Download or read book Innovative Business Practices written by Alkis Thrassou and published by Cambridge Scholars Publishing. This book was released on 2013-07-16 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second decade of the millennium finds the world changing at a once unimaginable pace. Businesses, tangled in the interwoven threads of galloping globalization, technological advances, cultural diversity, economic recession and deep-rooted human social evolution, struggle to keep up with incessant changes; consequently and inexorably experiencing severe difficulties and disorientation. Executives, much bewildered, habitually turn to conventional, time-honoured strategies and practices, which increasingly fail to offer the much-sought answers and means to survival, competitiveness and growth. We are currently experiencing a business era of turbulence and dynamic change – an era that inherently rejects conventionality and orthodox business theory to reward businesses embracing agility, reflex-style adaptability, innovation and creativity. This turbulence is, however, not a parenthesis or even a pattern, but the new reality in which each business must reinvent and redefine itself. This is a new reality of stakeholders that shift focus from the external to the internal, from the tangible to the intangible, and from fact to perception. This book presents research and paradigms that transcend classical theory in order to examine how business practice is positively affected by these conditions. Across a multitude of sectors and organisational types, scholars of different business specialisations set the theoretical foundations of contemporary thinking and present their practical implementations.

Apollo's Warriors

Author : Michael E. Haas
Publisher : DIANE Publishing
ISBN 13 : 9780788149832
Total Pages : 388 pages
Book Rating : 4.1/5 (498 download)

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Book Synopsis Apollo's Warriors by : Michael E. Haas

Download or read book Apollo's Warriors written by Michael E. Haas and published by DIANE Publishing. This book was released on 1998-05 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a fascinating insider's view of U.S.A.F. special operations, this volume brings to life the critical contributions these forces have made to the exercise of air & space power. Focusing in particular on the period between the Korean War & the Indochina wars of 1950-1979, the accounts of numerous missions are profusely illustrated with photos & maps. Includes a discussion of AF operations in Europe during WWII, as well as profiles of Air Commandos who performed above & beyond the call of duty. Reflects on the need for financial & political support for restoration of the forces. Bibliography. Extensive photos & maps. Charts & tables.

Conflicts of Interest in the Financial Services Industry

Author : Andrew Crockett
Publisher : Centre for Economic Policy Research
ISBN 13 : 9781898128793
Total Pages : 144 pages
Book Rating : 4.1/5 (287 download)

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Book Synopsis Conflicts of Interest in the Financial Services Industry by : Andrew Crockett

Download or read book Conflicts of Interest in the Financial Services Industry written by Andrew Crockett and published by Centre for Economic Policy Research. This book was released on 2003 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth report in this series focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking. In the recent stock market collapse, confidence in the financial industry was shaken by numerous scandals. Beginning with Enron in 2001, scandals brought about the demise of prominent financial figures, damaged the reputation of premiere firms and destroyed the global accounting giant Arthur Andersen. Central to this crisis was the exploitation of conflicts of interest. Research analysts at investment banks were found to be distorting information at the behest of underwriting departments eager to promote new issues. Auditors appeared to sanction misleading accounting in order to gain business for the consulting side of their firms. Policy response in the United States was quick. Large fines were levied and regulators compelled the separation of financial security function, constraining financial conglomerates. But are these new regulations and safeguards adequate protection? What costs do they impose on the industry? This fifth title in the ICMP/CEPR series of Geneva Reports on the World Economy examines the problem of conflicts of interest in the financial system. Conflicts of interest lead to a decrease in information that makes it harder for the system to provide savers wit the accurate, essential information that induces them to provide credit to borrowers. This study focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking. Determining the appropriate remedy for a conflict is a challenge because the elimination of conflicts may also eliminate benefits from economies of scope. This study examines five generic remedies: market discipline, regulation for increased transparency, supervisory oversight, separation of financial activities by function, and socialization of the collection and distribution of information. The authors apply this framework to assess critically the Sarbanes-Oxley Act and the Global Settlement between American regulators and investment banks.

REITs

Author : David M. Einhorn
Publisher : Law Journal Seminars Press
ISBN 13 : 9781588521408
Total Pages : pages
Book Rating : 4.5/5 (214 download)

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Book Synopsis REITs by : David M. Einhorn

Download or read book REITs written by David M. Einhorn and published by Law Journal Seminars Press. This book was released on 2017-12-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides essential discussion of how the customs of corporate and real estate transactions differ and how conflicts involving letters of intent and contingencies to the deal can be resolved.