united states of america

Description The purpose of this paper is to discuss the key regulatory, market, and political failures that led to the 2008-2009 US financial crisis and to suggest appropriate recommendations for reform. Journal of Financial Economic Policy Contagion channels of the USA subprime financial...

Description Class action (CA) has long been used in practice (mainly in the USA) and studied by academics especially in the shareholder protection area. This paper aims to apply the same practice within the current financial meltdown context Journal of Financial Economic Policy Class action and...

Description This paper seeks to examine the role that regulation and regulatory agencies played in the creating of the subprime mortgage market, and the subsequent crash of the mortgage market. The paper has two goals. First, it seeks to document the degree to which the US housing markets, and...

Description The purpose of this paper is to examine the short-term stock market interactions between US and six major Asian markets – China, India, Hong Kong, Singapore, South Korea and Taiwan. These six economies along with Japan and Australia have the largest stock exchanges in the...

Description The purpose of this postmortem is to assess whether the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes of the financial system’s demise Journal of Financial Economic Policy An autopsy of the US financial...

Description This paper seeks to study the impact of bio-fuel policies on oil and food futures prices from December 6, 2004 to August 1, 2008. Journal of Financial Economic Policy Do bio-fuel policies lead to speculative behavior? Chia-Hsing Huang Liang-Chun Ho Article information: To cite this...

Description Systemic risk propagated through over-the-counter (OTC) derivatives can best be managed by a public-private central counterparty clearing house. The purpose of this paper is to outline the market microstructure necessary for such a clearing house. Journal of Financial Economic...

Description The purpose of this paper is to investigate whether there are any differences in the capitalization speed-of-adjustment across regulatory capitalization buckets of commercial banks in the USA, for the period 2002-2009 Journal of Financial Economic Policy US banks' capitalization...

Description The purpose of this paper is to show that state economic policies, in addition to state economic performance, impact state bond ratings. Journal of Financial Economic Policy Economic freedom, the cost of public borrowing, and state bond ratings Peter T. Calcagno J ustin D. Benefield...

Description The purpose of this paper is to determine if the US Treasury’s at-the-market sales of 5.27 billion Citigroup shares in 2010 drove down the banks’ share price. It attempts to use the evidence of Citigroup’s stock returns to accept or reject competing hypotheses of larger stock sales...

Description Sometimes resources are badly employed because of coordination failures. Actions by decision makers that affect the likelihood of such failures are sometimes said to cause “systemic risk.” This paper seeks to consider the externality in the choice of ex ante risk management policies...

Description The purpose of this paper is to test the fundamental purpose of the 1992 Small Business Incentive Act (SBIA) to reduce the regulatory burden for small firms to raise public equity capital Journal of Financial Economic Policy Efficacy of the 1992 Small Business Incentive Act J ames...

Description This paper aims to explain the economic impact of the change in the degree of contract enforcement in the USA since August 2008. This change, from solid enforcement (hard contracts), to uncertain enforcement (fuzzy contracts), is a result of political expediency during an economic...

Description The American Dream and homeownership are sometimes thought of as one and the same. Abelief that homeownership is vital to the fabric of a vibrant society has led to government policies that encourage homeownership. This suggests that homeownership and societal well-being are...

Description The purpose of this paper is to provide an overview of the major provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act passed by the US Congress and signed into law by President Obama on July 21, 2010. Journal of Financial Economic Policy US enacts sweeping...

Description The purpose of this paper is to examine the effect of the Enron scandal, Arthur Andersen’s demise and the Sarbanes-Oxley Act on audit fees. Accounting Research Journal The effect of Enron, Andersen, and Sarbanes-Oxley on the US market for audit services Sharad Asthana Steven Balsam...

Description This paper builds on the Committee of Sponsoring Organizations (COSO) Report, which examined US Accounting and Auditing Enforcement Releases (AAERs). The purpose of this paper is to provide valuable insights into the characteristics and realities of financial statement fraud in the...

Description Effective August 23, 2004, the US Securities and Exchange Commission (SEC) requires all firms to disclose restatements via an item 4.02 Form 8-K filing. However, a significant number of firms continue to disclose restatements using means other than an 8-K. Commonly referred to as...

Description Estimates of systematic risk or beta are an important determinant of the cost of capital. The standard technique used to compile beta estimates is an ordinary least squares regression of stock returns on market returns using four to five years of monthly data. This convention assumes...

Description The purpose of this paper is to examine the stability or loyalty in the auditor-client relationship. It explores the association between audit fees and auditor loyalty. Specifically, it investigates whether clients paying less audit fees relative to other companies in their...