hedge fund investments during the recent financial crisis

... Nonetheless, after months of study, the directors of the funds accepted my recommendation that we separate the activities of the funds themselves from their adviser and distributor, so that the funds ... corporate managers to place their own financial interests ahead of the interests of their shareowners Soaring fund expenses As fund assets soared during the 1980s and 1990s, fund fees grew even faster, ... even the knowledge of their stockholders; [and] financial institutions which, in the infinite variety of their operations, consider only last, if at all, the interests of those who funds they...

Ngày tải lên: 16/01/2014, 22:20

... customers in the absence of the financial crisis Further, while affected banks significantly reduce their acceptance rates during the financial crisis, we find relationships help mitigate the supply ... to the financial crisis significantly restricting the access to loans The diagnostic section of Panel B further reports the p-value from the Wald test under the null hypothesis that, within the ... after the financial crisis as well as (ii) the cross-section of savings banks affected and not affected by the crisis based on the privately available information on the subprime losses that their...

Ngày tải lên: 16/02/2014, 10:20

... countries with lower values of the indicators during the pre -crisis period were also the countries where the provision of real credit was affected the most during the global crisis This section also ... growth during the global crisis Section concludes the paper Real credit growth in emerging markets during the global financial crisis: a brief literature review There is a growing literature on the ... that the financial systems of emerging market economies with the highest values of the resilience indicators during the pre -crisis period were best prepared to cope with the global financial crisis...

Ngày tải lên: 06/03/2014, 08:20

... concentration The Big Four’s dominance of the audit market was the direct focus of the Lords’ inquiry and one of the key issues in the EC Green Paper The ‘systemic risk’ posed by such an oligarchy and the ... that prove their value 10 Audit committees Since the financial crisis, regulatory inquiries have shown much interest in the potential strengthening of the role of audit committees (ACs) These comprise ... many parts of the business The chairs appreciated the auditors’ expertise on accounting matters and the fact that they brought issues to the AC’s attention of which they might not otherwise have...

Ngày tải lên: 06/03/2014, 19:20

... in the light of the framework described above PERCEIVED RISK AND THE COST OF BANK FUNDING Since the beginning of the sovereign debt crisis the effectiveness of the bank lending channel for the ... the other two indicators, the two-step FCI encompasses a large range of financial series Chart B The two-step financing conditions index since the beginning of the financial crisis Assessing the ... Assessing the financing conditions for the euro area private sector during the sovereign debt crisis The fourth aspect is the impact of non-standard measures adopted by the ECB and the Eurosystem...

Ngày tải lên: 22/03/2014, 17:20

... to weaken the connections between the macroeconomic environment in the run-up to the crisis and the likelihood of subsequent bank failure These hypotheses are taken to the data in the next sections ... able to capture the evolution of bank financial conditions in the run up to the crisis (2001–07) as well as throughout the crisis (2008–09) For the purpose of the analysis, we split the sample according ... country: the average GDP growth in the pre -crisis period, and the money market rates All the explanatory variables are measured by the average of the respective series during the pre -crisis period...

Ngày tải lên: 22/03/2014, 21:20

... these transactions .To the curent financial crisis On this time the states are going through a financial crisis which force the state to intervene to save the banks, the financial institutions ... providing them The responsibility for drafting and presenting the financial statements represents the duty of the company’s management team, so that solutions to improve the perception and the situation ... and the second aspect reveals that the resulting arrangements which emerge from this financial engineering are initiated depending on their incidence upon the balance sheet and the results of the...

Ngày tải lên: 23/03/2014, 00:20

... with the secondary effects of the crisis, and the interface between domestic and international financial institutions The length and breadth of the list indicates the extent that the financial crisis ... of the financial crisis, how it developed, proposals for regulatory change, and a review of how the crisis is affecting other regions of the world The role for Congress in this financial crisis ... point: the United States is still a major center of the financial world Regional financial crises (such as the Asian financial crisis, Japan’s banking crisis, or the Latin American debt crisis) ...

Ngày tải lên: 23/03/2014, 02:20

... they are the clearly the epicenter of the global financial crisis This Article argues that they were also the principal private-sector catalysts for the enormous credit boom that led to the crisis ... mutual funds during the same period Nevertheless, Congress did not seriously consider the question of whether financial conglomerates threatened the stability of the financial markets and the general ... the continuing collapse in financial markets around the globe reflected an absence of faith” in the ability of governments and regulators to deal with the financial crisis. 11 The turmoil in financial...

Ngày tải lên: 25/03/2014, 10:26

... East Asia After the Crisis Meredith Jung-En Woo 53 Asia and the International Monetary Fund:  Ten Years After the Asian Crisis David Burton 63 The Aftermath of the Asian Financial Crisis:  From ... the reigning ideology of financial globalization and the design of the international financial architecture The volume of literature and analyses on the root causes of the Asian crisis, and the ... communities, there is no one single consensus on the causes of the crisis One group of experts maintains that the crisis resulted from the “fundamental weaknesses in the domestic financial institutions”...

Ngày tải lên: 09/08/2014, 19:22

... the governor of Bank Indonesia from 1992 to 1998 and a key player in Indonesian policymaking during the Asian financial crisis, provides an Indonesian insider’s view of the Asian crisis The crisis, ... the director for the Asia and Pacific department at the IMF, offers the perspectives of the Fund on the causes of the crisis In his essay, he illustrates how Asia has strengthened its economic ... the crisis to the policies and programs of the IMF Meanwhile, in her essay Woo describes the financial crisis as a “liquidity crisis, exacerbated by idiosyncratic institutional practices in the...

Ngày tải lên: 09/08/2014, 19:22

... in the mid-1980s and the banking crisis that followed, which led to a tightening of regulatory control with the Banking and Financial Institutions Act of 1989 At the beginning of the 1990s, there ... emphasized the role of the International Monetary Fund (IMF, or the Fund) —particularly its policy prescriptions and conditionalities attached to loans—in exacerbating the crises.3 By the mid-1990s, there ... or contagion, as the currency crisis spread This contagion spread quickly due to the financial “globalization” that had already been occurring across the region The financial crisis and contagion...

Ngày tải lên: 09/08/2014, 19:22

... interpretation of the crisis I have learned from these studies that the differences from one crisis to another seem to be more prominent than the similarities In other words, the financial crisis seems ... them? Furthermore, there has also been the issue of whether the pre -crisis growth (and investment rates) are the normal pattern, or if the decreased rates post -crisis are the normal pattern The implication ... million.3 The basic differences in the arguments and theories about the Asian crisis are hinged to the central question of whether the causes of the crisis originated domestically, through weak fundamentals,...

Ngày tải lên: 09/08/2014, 19:22

... less back on their feet Those who had quarreled over the causes of the financial crisis such as the sister institutions, the World Bank and the International Monetary Fund (IMF, or the Fund) , as ... After the Crisis the three decades of the New Order regime under President Suharto— they now vented their anger and frustration on the victims who had just as little to with the crisis as the angry ... over the otherwise crisp days of autumn The Thais will likely push the onset of the crisis back a few months to the early summer of 1997, when the currency traders could not trade away the Thai...

Ngày tải lên: 09/08/2014, 19:22

... and financial globalization However, before considering the changes in Asia and at the IMF, it is important to briefly review the crisis itself R eviewing the Crisis The Asian financial crisis ... Asia and the International Monetary Fund: Ten Years After the Asian Crisis As a result of these changes at both the national and regional level, the strength and resilience of Asia’s financial ... and holds a Ph.D in economics from the University of Western Ontario | 63 | David Burton were at the root of the crisis Other ingredients that contributed to the crisis included pegged exchange...

Ngày tải lên: 09/08/2014, 19:22

... Robert Wade After the several major financial crises of the 1990s, the authorities of the international financial system—meaning the International Monetary Fund (IMF, or the Fund) , the Bank for International ... if they wish to | 80 | The Aftermath of the Asian Financial Crisis On the other hand, the negative results are substantial First, the FSAP and the ROSCs have tended to amount to a checklist They ... government not to the Fund s liking would send a negative signal to the markets, possibility precipitating a financial crisis. 2 In short, in the aftermath of the Asian financial crisis there has been...

Ngày tải lên: 09/08/2014, 19:22

... strengthen the global financial system after the Asian crisis was disproportionately shaped by the preferences of the developed country states and developed country private financial actors, to the ... guarantees Furthermore, the options should include alternative ways of providing liquidity during a crisis, because contrary to the thrust of Basel II, the problem for banks during a financial crisis ... marginalizing the preferences of developing country states and their private financial actors.22 Conclusion Post-Asian financial crisis, the international financial system continues to place the onus...

Ngày tải lên: 09/08/2014, 19:22

... The IMF’s Failure in the Asian Crisis The IMF’s failure in the Asian crisis was profound and publicized as | 106 | Ten Years After: The Lasting Impact of the Asian Financial Crisis never before, ... forth the argument that the crisis was due to “fundamental structural weaknesses”12 in these economies, rather than the much more easily resolvable liquidity problem that actually caused the crisis ... would have been toward the beginning of the crisis, which began with the devaluation of the Thai baht in July 1997 At that time the economies of the region were not beset by the kinds of serious...

Ngày tải lên: 09/08/2014, 19:22

... After: The Lasting Impact of the Asian Financial Crisis provided no help Instead, together with the World Bank, the Fund drained a net $4 billion, or a sizeable percent of GDP, out of the economy ... financing arrangement, thereby called the Chiang Mai Initiative, after the location of the meeting in 2000 With the combined powers of the ASA and the network of BSAs, the CMI acts as the region’s self-help ... among the region’s settlement systems | 125 | Worapot Manupipatpong Conclusion These four initiatives the ASP, the ERPD, the CMI, and the ABMI— have fundamentally contributed to strengthening the...

Ngày tải lên: 09/08/2014, 19:22

... effect is the strengthened role of China in financial markets The role for Congress in this financial crisis is multifaceted While the recent focus has been on combating the recession, the ultimate ... of the financial crisis, how it developed, proposals for regulatory change, and a review of how the crisis is affecting other regions of the world The role for Congress in this financial crisis ... point: the United States is still a major center of the financial world Regional financial crises (such as the Asian financial crisis, Japan’s banking crisis, or the Latin American debt crisis) ...

Ngày tải lên: 09/08/2014, 20:20