Sovereign Risk Analysis RLE Banking Finance

Author: Shelagh Heffernan
Publisher: Routledge
ISBN: 1136268642
Format: PDF, Mobi
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Directed both at students of international finance and practitioners in the field, the book stresses the importance of treating the analysis of sovereign risk in a more general framework than is typically the case, identifying the components of both the demand and supply of sovereign loans. The author also discusses the link between the unique aspects of sovereign lending, the interdependence of the international banking system and the potential instability in the world financial system.

Emerging Risk in International Banking RLE Banking Finance

Author: P N Snowden
Publisher: Routledge
ISBN: 1136269134
Format: PDF, ePub, Docs
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Global payments imbalances and the rise of emerging economies provide the background to this analysis of risk exposure and near-insolvency at the world’s major banks. Emerging Risk was published in 1985, three years after the first international banking crisis of the post-War era, but prior to resolution after 1989 of the underlying sovereign debt overhang. With episodes of international financial instability punctuating the following quarter century until the Lehman collapse of 2008, this re-issue will contribute to the historical perspective on modern diagnoses of policy weakness and financial sector excess that is clearly needed. Whereas OPEC price increases in the 1970s were a source of the earlier global imbalances, Chinese surpluses and those occasioned by her rapid growth among commodity and oil producing countries are today’s equivalents. Emerging Risk documents the earlier poor employment of surplus funds ‘recycled’ to Latin America, much as the failure of the USA and others to use Asian financing productively is now evident. The role of the main global banking institutions in each of these outcomes reveals common threads. As a reading of Emerging Risk will confirm, both the special consequences of free competition in a global banking market, and the perverse incentives inherent in the remuneration of loan officers, were clearly present in the mid-1980s. The interaction of regulation and the competitive response of banks to produce increased reliance on wholesale borrowing and lending, together with enhanced gearing, have clear echoes in modern debates over the consequences of the Basel provisions.

Sovereign Credit Rating

Author: Ahmed Naciri
Publisher: Routledge
ISBN: 1317192990
Format: PDF, ePub, Mobi
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The current degradation of sovereign balance sheets raises very real concerns about how sovereign creditworthiness is measured by credit rating agencies. Given the disastrous economic and social effects of any downgrade, the book offers an alternative and calls for more transparency about the quantitative measures used in calibrating the rating process and how sovereign ratings are validated. It argues that oversight is required and procedures improved, including subjecting methodologies of assessing default to more standardization and monitoring. Sovereign Credit Rating explains the process of sovereign creditworthiness assessment and explores the consequences of possible inaccuracies in the process. Developing an innovative new methodology to assess ratings accuracy, it shows that the announcement of each rating action by the major credit rating agencies show alarming inconsistencies. Written by an internationally recognized author and professor, this unique book will be of interest to researchers and advanced students in corporate governance, accounting, public finance and regulation.

International Corporate Finance RLE International Business

Author: Harvey A Poniachek
Publisher: Routledge
ISBN: 1135126526
Format: PDF, ePub, Docs
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This thorough, comprehensive introduction to international financial management provides an expert guide to the workings of international capital markets, the financing of international business, the complexities of international taxation and the use of financial instruments such as swaps and options. Written by professionals, the book guides the reader through each key topic, targeting the issues underpinning successful financial strategy in the global markets of the 1990s.

Microfinance and Financial Inclusion

Author: Eugenia Macchiavello
Publisher: Routledge
ISBN: 1317227581
Format: PDF
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Following the recent global financial crisis there is a growing interest in alternative finance – and microfinance in particular – as new instruments for providing financial services in a socially responsible way or as an alternative to traditional banking. Nonetheless, correspondingly there is also a lack of clarity about how to regulate alternative financial methods particularly in light of the financial crisis’ lessons on regulatory failure and shadow banking’s risks. This book considers microfinance from a legal and regulatory perspective. Microfinance is the provision of a wide range of financial services, particularly credit but also remittances, savings, to low-income people or financially excluded people. It combines a business structure with social inspiration, often resorts to technological innovations to lower costs (Fintech: e.g. crowdfunding and mobile banking) and merges with traditional local experiences (e.g. financial cooperatives and Islamic finance), this further complicating the regulatory picture. The book describes some of the unique dimensions of microfinance and the difficulties that this can cause for regulators, through a comparative analysis of selected European Union (EU) countries’ regimes. The focus is in fact on the EU legal framework, with some references to certain developing world experiences where relevant. The book assesses the impact and validity of current financial regulation principles and rules, in light of the most recent developments and trends in financial regulation in the wake of the financial crisis and compares microfinance with traditional banking. The book puts forward policy recommendations for regulators and policy makers to help address the challenges and opportunities offered by microfinance.

Routledge Handbook of Social and Sustainable Finance

Author: Othmar M. Lehner
Publisher: Routledge
ISBN: 1317678834
Format: PDF, Docs
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Routledge Handbook of Social and Sustainable Finance brings together an international cast of leading authorities to map out and display the disparate voices, traditions and professional communities engaged in social finance activity. With a clear societal or environmental mission, foundations, individual and group investors, as well as public bodies around the world have become increasingly eager to finance and support innovative forms of doing business. Together, founders and established businesses alike are embracing new sustainable business models with a distinct stakeholder approach to tackle social or environmental problems in what they see as a failed economic system in crisis. As a result, the topic of social and sustainable finance is at the forefront of financial economic thought. This Handbook is divided up into three parts. The first, "The Landscape of Social and Sustainable Finance and Investments", comprises of chapters from a multitude of perspectives in an effort to grasp the entirety of the landscape. The second, "Challenges, Suggestions, Critiques and Debates", focuses on areas ranging from sociological underpinnings to critical takes on markets, and the identification of specialized business models. Amongst ethical considerations, topics include the scaling of impact, an analysis of sustainability as risk prevention and comparative analyses of various methods of justification and measurement. In the third and final section, "Markets and Institutions", contributions range from various perspectives on sustainable banking to environmental marketplaces, and finally on to practical cases and country specific observations. This volume is essential reading for both academics and students in economics and finance. It is also of interest to those who study environmental economics, microeconomics and banking.

Credit Rating Governance

Author: Ahmed Naciri
Publisher: Routledge
ISBN: 1317634357
Format: PDF, Docs
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Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country. This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements. This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.

Alternative Banking and Financial Crisis

Author: Kurt von Mettenheim
Publisher: Routledge
ISBN: 1317318633
Format: PDF, Kindle
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The recent banking crisis has brought into question the business model used by most large banks. This collection of essays explores the success of ‘alternative banks’ – savings banks, cooperative banks and development banks, using case studies from around the world and discussion of both the historical and theoretical context of banking practices.

Accountability for Effectiveness in Global Governance

Author: John Kirton
Publisher: Routledge
ISBN: 1317185889
Format: PDF, Docs
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The global community confronts a comprehensive and interconnected array of compelling economic, development and security challenges which require effective global governance. At the centre of world governance stand the new plurilateral summit institutions; the G8 and G20, and UN summits on subjects such as sustainable development and climate change. Many observers and participants regard the performance of these summits as inadequate and doubt their ability to cope with increasingly complex and numerous global challenges. This book critically examines how effectively central global institutions comply with their commitments and how their effectiveness can be improved through accountability measures designed to raise compliance and deliver better results. Expert contributors assess compliance and accountability at the key global institutions to provide an important resource for policymakers and scholars in political science, governance and accountability. For additional information and data relating to the book, please visit: http://www.g7g20.utoronto.ca/accountability/

The Big Short Wie eine Handvoll Trader die Welt verzockte

Author: Michael Lewis
Publisher: Campus Verlag
ISBN: 3593393573
Format: PDF, ePub
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"The Big Short" erzählt von der Erfindung einer monströsen Geldmaschine: Ein paar Hedgefond-Manager sehen das katastrophale Platzen der amerikanischen Immobilienblase nicht nur voraus, sondern sie wetten sogar im ganz großen Stil darauf. Den Kollaps des Systems befördern sie unter anderem mittels des sogenannten "shortings", Leerverkäufen von Aktien großer Investmentbanken. Doch zu jeder Wette gehört auf der anderen Seite auch einer, der sie hält. Lewis entlarvt anhand seiner Protagonisten ein System, das sich verselbständigt und mit moralischen Kategorien wie Habgier oder Maßlosigkeit längst nicht mehr zu fassen ist. Der Zusammenbruch der Finanzmärkte, so lernen wir in diesem Buch, war ein kurzer Moment der Vernunft: Der Wahnsinn hatte sich in den Jahren davor abgespielt.