Download or read book Corporate Reform as a Credence Service written by Omari Scott Simmons and published by . This book was released on 2014 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the recent meltdown of the U.S. economy, there is no shortage of blameworthy corporate directors and managers. But this Essay focuses on another significant dimension of the current crisis: the crucial role of lawmakers and the need to reform the reformers. In a sense, corporate governance reform is like a service: corporate constituents (e.g., managers, shareholders, employees, and populist groups) function like consumers, and corporate lawmakers (e.g., federal government and the state of Delaware) function as monopoly suppliers of reform services. These reform services, however, exhibit credence characteristics, which are service attributes whose quality cannot be fully determined even after significant use. Credence characteristics, at least in the short term, make it difficult for corporate constituents to discern the impact of corporate reform due to information asymmetries. In light of these informational constraints, corporate constituents normally rely on an array of decision-making heuristics as a risk reduction strategy. As the current crisis reveals, corporate constituent overreliance on these heuristics may not adequately prevent corporate opportunism. Making matters worse, the unobservable impact of corporate reform (i.e., credence characteristics) creates perverse incentives for lawmakers (on the supply-side) to engage in opportunistic behavior at the expense of corporate constituents (on the demand-side), who are lulled into a false sense of security. This Essay focuses on an important chapter in the story of the current economic crisis and corporate scandals that cannot be ignored because it highlights the real potential for supply side (i.e. lawmaker) inefficiencies and the need to discipline lawmaker behavior as well as enhance lawmaker competence.
Download or read book Reforming Corporate Retail Investor Protection written by Diane Bugeja and published by Bloomsbury Publishing. This book was released on 2019-12-12 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors – as opposed to corporate retail investors – by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.
Download or read book Regressive Leadership and Governance written by Chizoba "Dr Zee" Ph. D. Madueke and published by Xlibris Corporation. This book was released on 2010-06 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the heart of the litany of Nigeria's public sector problems is a fundamental crisis of governance. The current crisis of development in Nigeria can be attributed in part to a history of poor governance characterized by corruption, social injustice and political instability. Effective leadership and governance are critical to a country's economic and sociopolitical development. During the 1950s and 1960s Nigerian public sector was regarded as one of the best in Africa, today it is ranked among the worst in the world. The factors isolated include ineffective control of corruption, lack of rule of law, poorly articulated government policies, and poor policy implementations. The implications for Nigeria have been a regressive leadership, poor governance and the lack of social and societal development.
Download or read book Indian Economy Reforms and Development written by Pradip Kumar Biswas and published by Springer. This book was released on 2019-08-09 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a comprehensive study of the impact of policy reforms on output, employment, and productivity growth across sectors of India since 1991. It showcases varied responses from different sectors as they faced different degrees of policy interventions, and challenges or opportunities as regards markets, technology, and availability of skills and other complementary resources. The book also discusses the contributions of the service sector on India’s GDP and employment. The book throws light on the phenomena of rising inequality and persistent poverty which continues to shadow and be a hallmark of post-reform India, despite high economic growth. It underlines the failure of these reforms to bring about major change in social and economic organizations and institutions. The book’s contents stress on the criticality of addressing these issues as they have a serious potential of jeopardizing the country’s ability to maintain high growth momentum. With these pertinent topics, the book would be of interest not only to the research community, but also to policy makers and practitioners of various sectors addressed here.
Download or read book Handbook of Public Management Practice and Reform written by Kuo-Tsai Liou and published by CRC Press. This book was released on 2019-09-16 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt: Outlining the origins, motivations, strategies, implementations, and effectiveness of reform policies and programs, Handbook of Public Management Practice and Reform examines changes and challenges in major areas of public administration, including budgeting, finance, human resources, and organizational management, reviews the lessons of reform, an
Download or read book Bureaucrats in Business written by and published by World Bank Publications. This book was released on 1995 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Refer review of this policy book in 'Journal of International Development, vol. 10, 7, 1998. pp.841-855.
Download or read book The New Encyclopedia of Social Reform written by William Dwight Porter Bliss and published by . This book was released on 1908 with total page 1336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Establishment of a Legal Services Corporation Hearings Before the Subcommittee on Equal Opportunities written by United States. Congress. House. Education and Labor and published by . This book was released on 1973 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corruption and Reform in India written by Jennifer Bussell and published by Cambridge University Press. This book was released on 2012-03-26 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do some governments improve public services more effectively than others? Through the investigation of a new era of administrative reform, in which digital technologies may be used to facilitate citizens' access to the state, Jennifer Bussell's analysis provides unanticipated insights into this fundamental question. In contrast to factors such as economic development or electoral competition, this study highlights the importance of access to rents, which can dramatically shape the opportunities and threats of reform to political elites. Drawing on a sub-national analysis of twenty Indian states, a field experiment, statistical modeling, case studies, interviews of citizens, bureaucrats and politicians, and comparative data from South Africa and Brazil, Bussell shows that the extent to which politicians rely on income from petty and grand corruption is closely linked to variation in the timing, management and comprehensiveness of reforms.
Download or read book Civil Service Reform in Francophone Africa written by 'Ladipo Adamolekun and published by World Bank Publications. This book was released on 1997-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's financial markets are rapidly integrating into a single global marketplace, and developing countries are being drawn into this process starting from different points and moving at various speeds. Those with adequate institutions and sound policies in place may proceed smoothly along the road toward financial integration and gain the many benefits that integration can bring. Most of the developing economies lack many of the necesssary prerequisites for such a move; a few are so unprepared that integration may do them more harm than good. Developing countries may have little choice about whether to follow this path'advances in communications and new developments in finance have made the course inevitable'but they may still choose the ways in which they proceed, choosing the policies that benefit the economy and averting potential shocks. This World Bank report looks at the important challenges both sets of countries face in a new age of global capital. The book presents new and compelling evidence that, while low interest rates in industrial countries provided an initial impetus to the surge in private capital flows during 1989-93, these flows have entered a new phase, driven by increased financial integration . The report analyzes the causes and effects of integration, with a particular emphasis on how developing countries in the nascent stages of integration can learn from the experiences of the more rapidly integrating developing countries.
Download or read book Tournament Approaches to Policy Reform written by Clifford F. Zinnes and published by Rowman & Littlefield. This book was released on 2010-10-01 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: While much foreign aid achieves commendable goals, some is ineffective. In this volume, Clifford Zinnes argues that a donor's intrinsic informational limitations on the local context as well as inability to control the progress of interventions mean that lack of success is not rooting in insufficient funding but in maladapted institution designs of interventions that don't foster local ownership. He indentifies and assesses a newly emerging class of foreign aid delivery that promises to overcome these obstacles. The approach is based on "prospective inter-jurisdictional competition" (PIJC). Beneficiary groups—often local-level governments, supported by their private sector and civil society—act as teams and compete against each other under explicit predefined rules and objectives to design and implement interventions under their own aegis to achieve the highest quantitatively measured performance, either relative to others ("tournaments") or against a preset benchmark ("certification"). Teams that cooperate internally are the likeliest to win the rewards, which, aside from the longer run benefits of the intervention itself, might include more substantive financial or technical assitance from the sponsor. Since only groups serious about reforming choose to play, Zinnes says the incentives generated by the ensuing "race-to-the-top" competitiion create local ownership, encouraging recipients to draw on their own knowledge. Moreover, since all teams that compete—and not just those who "win" donor rewards—benefit from their own reform efforts, he argues that this approach can leverage aid resources more than a conventional bilateral aid agreement. Zinnes presents a dozen recent applications of the approach, including those sponsored by the World Bank, USAID, the United Nations, the Ford Foundation, and others. He also recommends improvements and ways to scale up PIJC-based projects in applications ranging from protecting the environment and reducing red tap
Download or read book Establishment of a Legal Services Corporation written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Equal Opportunities and published by . This book was released on 1973 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Networking China written by Yu Hong and published by University of Illinois Press. This book was released on 2017-01-11 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, China 's leaders have taken decisive action to transform information, communications, and technology (ICT) into the nation's next pillar industry. In Networking China , Yu Hong offers an overdue examination of that burgeoning sector's political economy. Hong focuses on how the state, in conjunction with market forces and class interests, is constructing and realigning its digitalized sector. State planners intend to build a more competitive ICT sector by modernizing the network infrastructure, corporatizing media-and-entertainment institutions, and by using ICT as a crosscutting catalyst for innovation, industrial modernization, and export upgrades. The goal: to end China's industrial and technological dependence upon foreign corporations while transforming itself into a global ICT leader. The project, though bright with possibilities, unleashes implications rife with contradiction and surprise. Hong analyzes the central role of information, communications, and culture in Chinese-style capitalism. She also argues that the state and elites have failed to challenge entrenched interests or redistribute power and resources, as promised. Instead, they prioritize information, communications, and culture as technological fixes to make pragmatic tradeoffs between economic growth and social justice.
Download or read book Legal Services Regulation at the Crossroads written by Noel Semple and published by Edward Elgar Publishing. This book was released on 2015-02-27 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who should be allowed to provide legal services to others? What characteristics must these services possess? Through a comparative study of English-speaking jurisdictions, this book illuminates the policy choices involved in legal services regulation a
Download or read book Shaping the Corporate Landscape written by Nina Boeger and published by Bloomsbury Publishing. This book was released on 2018-02-22 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currently, there exists a distrust of corporate activity in the continuing aftermath of the financial crisis and with increasing recognition of the threats of climate change and global, as well as national, inequalities. Despite efforts in the arena of corporate governance to address these, we are still beset with corporate scandals and witness companies facing large fines for their environmental and cost-cutting misdemeanours. Recognising that the usual responses to dealing with these corporate problems are not effective, this book asks whether the traditional form of the joint stock corporation itself lies at the heart of these problems. What are the features of the corporate form and how does its current regulation underscore these problems? Identifying such features provides a basis for the discussion to develop towards suggesting more progressive regulatory developments around the corporate form. More fundamentally, this book investigates a diverse range of corporate governance models that are emerging as alternatives to the shareholder corporation, including employee-owned, cooperative and social enterprises. The contributors are leading scholars from various backgrounds including law, management and organisation studies, finance and accounting, as well as experienced professionals and policy makers with expertise in social and cooperative business models and the role of employees in the corporation.
Download or read book Curbing Corruption in Asian Countries written by Jon S. T. Quah and published by Emerald Group Publishing. This book was released on 2011-07-21 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: As corruption is a serious problem in many Asian countries their governments have introduced many anti-corruption measures since the 1950s. This book analyzes and evaluates the anti-corruption strategies employed in Hong Kong SAR, India, Indonesia, Japan, Mongolia, the Philippines, Singapore, South Korea, Taiwan, and Thailand.
Download or read book The New Encyclopedia of Social Reform written by William Dwight Porter Bliss and published by . This book was released on 1970 with total page 1344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
