The Experts below are selected from a list of 246870 Experts worldwide ranked by ideXlab platform
René M. Stulz - One of the best experts on this subject based on the ideXlab platform.
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the economics of conflicts of interest in Financial Institutions
Journal of Financial Economics, 2007Co-Authors: Hamid Mehran, René M. StulzAbstract:A conflict of interest exists when a party to a transaction could potentially make a gain from taking actions that are detrimental to the other party in the transaction. This paper examines the economics of conflicts of interest in Financial Institutions and reviews the growing empirical literature (mostly focused on analysts) on the economic implications of these conflicts. Economic analysis shows that, although conflicts of interest are omnipresent when contracting is costly and parties are imperfectly informed, there are important factors that mitigate their impact and, strikingly, it is possible for customers of Financial Institutions to benefit from the existence of such conflicts. The empirical literature reaches conclusions that differ across types of conflicts of interest, but overall these conclusions are more ambivalent and certainly more benign than the conclusions drawn by journalists and politicians from mostly anecdotal evidence. Though much has been made of conflicts of interest arising from investment banking activities, there is no consensus in the empirical literature supporting the view that conflicts resulting from these activities had a systematic adverse impact on customers of Financial Institutions.
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the risks of Financial Institutions
National Bureau of Economic Research, 2007Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.
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The Risks of Financial Institutions
2007Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.(This abstract was borrowed from another version of this item.)
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The Risks of Financial Institutions - The Risks of Financial Institutions
SSRN Electronic Journal, 2005Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.
Hamid Mohtadi - One of the best experts on this subject based on the ideXlab platform.
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oil price volatility Financial Institutions and economic growth
Energy Policy, 2019Co-Authors: Uchechukwu Jarrett, Kamiar Mohaddes, Hamid MohtadiAbstract:Theory attributes finance with the ability to both promote growth and reduce output volatility. But evidence is mixed in both regards, partly due to endogeneity effects. For example, Financial Institutions themselves might be a source of volatility, as the events of 2008 suggest. We address this endogeneity issue by using oil price volatility as a source of exogenous volatility, to study the effect of finance. To do this, we use two empirical methodologies. First, we develop a quasi-natural experiment by studying the dramatic decline of oil prices in 2014 and beyond, using a synthetic control methodology. Our hypothesis is that the ability of oil-rich countries to mitigate the effects of this decline rested on the quality of their Financial Institutions. We focus on 11 oil-rich countries between 1980 and 2014 that had “poor” measures of Financial development (treatment group) out of 20 such countries and synthetically create counterfactuals from the remaining (control) group with “superior” Financial development. We subject both to the oil price shock of 2014. We find evidence that better Financial Institutions do indeed reduce output volatility and mitigate its negative effect on growth in the year that showed a sustained decline of the oil price. To address any remaining potential endogeneity between oil prices and finance, we further examine our findings by using a Panel CS-ARDL approach with 30 oil producing countries in our sample (and data over the period 1980-2016), illustrating that the effect of oil price volatility on growth is mitigated with better Financial Institutions. Our results make a strong case for the support of the positive role of Financial development in growth and development.
Mark S. Carey - One of the best experts on this subject based on the ideXlab platform.
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the risks of Financial Institutions
National Bureau of Economic Research, 2007Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.
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The Risks of Financial Institutions
2007Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.(This abstract was borrowed from another version of this item.)
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The Risks of Financial Institutions - The Risks of Financial Institutions
SSRN Electronic Journal, 2005Co-Authors: Mark S. Carey, René M. StulzAbstract:Over the last twenty years, the consensus view of systemic risk in the Financial system that emerged in response to the banking crises of the 1930s and before has lost much of its relevance. This view held that the main systemic problem is runs on solvent banks leading to bank panics. But Financial crises of the last two decades have not fit the mold. A new consensus has yet to emerge, but Financial Institutions and regulators have considerably broadened their assessment of the risks facing Financial Institutions. The dramatic rise of modern risk management has changed how the risks of Financial Institutions are measured and how these Institutions are managed. However, modern risk management is not without weaknesses that will have to be addressed.
Irsad - One of the best experts on this subject based on the ideXlab platform.
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Analysis of Public Perception of Sharia Financial Institutions in Medan City
International Journal of Research, 2020Co-Authors: Zulfikar, Rahmanta, IrsadAbstract:The purpose of this research is to determine the public perceptions of Islamic Financial Institutions in Medan. The research is categorized to descriptive qualitative so that is not to test hypothesis. This data which is used in this research is the primary and secondary data. Sampling technique is taken by purposive sampling of 50 respondents as the sample. The research collects empirical evidence by distributing questionnaires. Respondents in this research are the whole society in Medan or a city that had contact with Islamic Financial Institutions in Medan. Based on the results of the research with crosstab analysis, known to the majority of respondents have a perception about Islamic Financial Institutions in the choice of Islamic Financial Institutions to avoid usuary and following argument of the Sunnah. In addition, the perception of the majority of respondents regarding Islamic Financial Institutions is the Islamic Financial Institutions are not assessment client to interest. Then the majority of respondents have the perception that Islamic Financial Institutions have employees were friendly and polite.
David Scott - One of the best experts on this subject based on the ideXlab platform.
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strengthening the governance and performance of state owned Financial Institutions
2007Co-Authors: David ScottAbstract:Corporate governance arrangements define the responsibilities, authorities and accountabilities of owners, boards of directors, and executive managers of a company. Good corporate governance is as important for state Financial Institutions as for private sector companies. Many of the problems that commonly afflict state Financial Institutions can be associated with, if not attributed directly to, weaknesses in corporate governance. This note draws on guidelines recently published by the OECD and the Basel Committee for Banking Supervision to compile a comprehensive corporate governance evaluation framework relevant to state-owned commercial and development finance Institutions. It highlights aspects of this framework that are considered to be of particular importance to state Financial Institutions by citing innovative practices in a number of countries. Finally, it presents a detailed case study of the governance arrangements in place at the Development Bank of Southern Africa.
