Ethics Events and Conditions of Possibility: How Sell-Side Financial Analysts Became Involved in Corporate Governance

2020 ◽  
Vol 31 (1) ◽  
pp. 106-137
Author(s):  
Zhiyuan (Simon) Tan
Keyword(s):  
Corporate Governance ◽  
Financial Markets ◽  
Financial Analysts ◽  
The United States ◽  
Discursive Construction ◽  
Moral Norms ◽  
Ethical Problems ◽  
The Past ◽  
Finance Ethics ◽  
Conditions Of Possibility

ABSTRACTMobilizing Foucault’s genealogy, this article investigates how an “ethics event”—the involvement by some sell-side financial analysts in the United States and United Kingdom across the past two decades in corporate governance—emerged. It is found that the complex relations formed between specific historical precedents, normative discourses, and fields of power rendered certain issues in financial markets morally problematic and constructed analysts’ corporate governance work as a potential solution. Contributing to research in finance ethics, this article develops a novel perspective to conceptualize the rise of ethically relevant practices in financial markets, focusing on how ethical problems and their solutions are outcomes of discursive construction and power relations. This article also revises our understanding of the boundary between technical norms and moral norms in financial markets. When ethical crises occur, it is argued, transforming technical practices and revising the technical norms adopted by financial professionals has the potential to tackle ethical concerns.

The Volatility of Sovereign Wealth Funds

2009 ◽  
Vol 9 (3) ◽  
pp. 1850172 ◽  
Author(s):  
Thomas J. Grennes
Keyword(s):  
Corporate Governance ◽  
Political Influence ◽  
The United States ◽  
Relative Importance ◽  
Energy Prices ◽  
Sovereign Wealth Funds ◽  
The Past ◽  
Global Recession ◽  
Steady Growth ◽  
Recent Developments

This paper evaluates sovereign wealth funds in light of the extreme volatility of energy prices and the severe global recession that began in 2008. A recent paper by Das characterized the assets of funds as showing steady growth in the past and likely increased importance in the future. However, recent developments have reduced the relative importance of funds and have demonstrated the sensitivity of the funds to energy prices and world business cycles. Investments by sovereign wealth funds have the potential to introduce political influence into corporate governance, but this potential is much smaller than the interventions into corporate governance by governments of the United States and elsewhere connected to corporate bail-outs during the recession. Lack of transparency remains a problem for certain sovereign wealth funds, but anti-recession interventions by governments have been characterized by extreme lack of transparency.

scholarly journals Snapshot and Trends of Corporate Governance Research in the Past 5 Years: Statistics and Visual Analysis Based on CiteSpace

2020 ◽  
pp. 120-129
Author(s):  
Oleh Pasko ◽  
◽  
Fuli Chen ◽  
Xuefeng Yao ◽  
◽  
...  
Keyword(s):  
Corporate Governance ◽  
Family Firms ◽  
Visual Analysis ◽  
Emerging Market ◽  
Academic Research ◽  
The United States ◽  
Current Status ◽  
Future Research ◽  
The Past ◽  
Research Hotspots

Corporate governance is not only one of the important issues of modern enterprise management, but also a hot topic in academic research. Bibliometric analysis of the current status of global corporate governance research in the past five years can help researchers and decision-makers grasp the main trends in corporate governance at present and in the future. The purpose of this research is to analyze the current status, hot spots and trends of corporate governance research in the past five years. Using the core collection of the WOS database as the data source, we searched English language journals related to corporate governance and obtained 607 literature search results. We utilize bibliometric methods and use CiteSpace to conduct statistical analysis and visual analysis. Through statistical literature publication year, country (region), author and literature citation situation, draw keyword co-occurrence map, research hotspot map, clustering map, burst hotspot map, systematically show the corporate governance research field in the past 5 years Basic information, research hotspots and development trends.The research results show that the number of corporate governance-related documents has continued to increase in the past five years. The United States, the United Kingdom, China, Spain, and Australia are the five countries with the largest number of corporate governance studies. The top 5 most cited authors are M.C. Jensen, A. Shleifer, E.F. Fama, R.La. Porta and P. Gompers. Among the top 10 most cited documents, the most cited are 178 words and the least cited 65 times. Research hotspots in corporate governance include agency theory, emerging market, capital structure, family firms, and real earnings management. Future research trends include merger, ownership concentration, equity and institution.

scholarly journals Corporate Governance: Is It Time For Global Standards?

2011 ◽  
Vol 7 (2) ◽  
Author(s):  
Peter A. Stanwick
Keyword(s):  
United States ◽  
European Union ◽  
Corporate Governance ◽  
Financial Markets ◽  
Focal Point ◽  
Action Plan ◽  
Cultural Beliefs ◽  
The United States ◽  
The European Union ◽  
Governance System

Financial markets depend on the integrity of the financial information generated by management. In order for that integrity to be ensured, an effective corporate governance system must be in place by the corporation. While the United States has been the initial focal point on the effectiveness of corporate governance through the actions at Enron and WorldCom, European companies such as Ahold, Parmalat and Adecco have also demonstrated that the European Union faces challenges pertaining to corporate governance. The purpose of this paper is to compare how the United States and the European Union address the issue of corporate governance. The paper will examine and compare the Sarbanes-Oxley Act in the United States, the European Commissions Action Plan on corporate governance and the new corporate governance guidelines issues by the Organization for Economic Cooperation and Development. The paper will conclude with a discussion on whether global corporate governance standards are necessary to ensure the stability of global financial markets. The author will argue that certain core standards are universal in nature. However, flexibility is still warranted in some areas due to specific cultural beliefs and established business standards.

Finding the Edges of Payday Lending

2013 ◽  
Vol 12 (3) ◽  
pp. 377-409
Author(s):  
Rob Aitken
Keyword(s):  
United States ◽  
Financial Markets ◽  
The United States ◽  
Payday Lending ◽  
Political Movement ◽  
The Past ◽  
The Poor ◽  
Global Reach

Abstract Although virtually unknown in 1990, payday lending has become an important and profitable credit practice over the past two decades. Because of this growth, and because it has been implicated in ever-increasing levels of debt among the poor, payday lending has been confronted by an active political movement which has had some success in imposing forms of regulation in the United States and abroad. This paper argues, however, that this activism has failed to address the increasingly globalized nature of payday lending. Over the past five years, in particular, payday lending has become a thoroughly globalized practice deeply connected to and enabled by liberalized global financial markets. This paper reflects on the distance between the activism that now confronts it in national or subnational contexts and this increasingly global reach of payday lending. It concludes by making the case for a more fully globalized conception of global financial justice.

“The More Things Change…”: Business Litigation and Governance in the American Automobile Industry

1996 ◽  
Vol 21 (03) ◽  
pp. 631-678 ◽  
Author(s):  
Lane Kenworthy ◽  
Stewart Macaulay ◽  
Joel Rogers
Keyword(s):  
United States ◽  
Corporate Governance ◽  
Dispute Resolution ◽  
Automobile Industry ◽  
The United States ◽  
Business Practice ◽  
Automotive Sector ◽  
The Past ◽  
Past Generation ◽  
Over Time

Business litigation is a relatively neglected area of corporate governance, particularly given its enormous rise in the United States over the past generation. As a preliminary effort to engage this issue, we examine dispute avoidance and resolution in the automotive sector since the early 1970s-focusing on relationships between auto manufacturers and their suppliers and dealers. We generally presume intercorporate litigation to be a “last resort” in business practice, chosen only on the breakdown of less costly means of dispute avoidance or resolution; we take such breakdown typically to be caused by shifts in the terms of competition among firms (e. g., increased competition, instability, uncertainty); and we expect that, over time, the costs of litigation will motivate efforts to construct new structures of nonlitigious dispute resolution. In the case of the U. S. auto industry, we find disruptive shifts in the terms of competition and increased recourse to litigation. Throughout, however, this litigation effect is mitigated by the dominance of major manufacturers over their suppliers and dealers. Over time, it is further dampened by industry development of mechanisms for arbitration or other nonlitigious dispute resolution.

TECHNOLOGY AND CORPORATE GOVERNANCE — LESSONS LEARNT

2004 ◽  
Vol 01 (01) ◽  
pp. 115-126 ◽  
Author(s):  
FREDERICK BETZ
Keyword(s):  
United States ◽  
Economic Growth ◽  
Corporate Governance ◽  
Financial Markets ◽  
Technological Innovation ◽  
The United States ◽  
Business Climate ◽  
Corporate Fraud ◽  
Financial Bubble ◽  
Proper Science

The commercial benefits of technological change arise only from the proper convergence of several factors — corporate governance, financial markets, tax policy, and technological innovation. We explore a case in the United States in the 1990s when these factors were improperly handled and created a financial bubble without economic advance. There must be together — a proper business climate, proper tax laws, proper corporate governance, proper investment in innovation, and proper science & technology infrastructures. Distortion of these factors fosters not economic growth but corporate fraud.

The Facilitation of Money Laundering Through Western Europe and the United States by Russian Organised Crime Groups

2000 ◽  
Vol 3 (3) ◽  
pp. 199-203
Author(s):  
Peter Johnstone ◽  
Mark Jones
Keyword(s):  
United States ◽  
Soviet Union ◽  
Financial Markets ◽  
Former Soviet Union ◽  
Western Europe ◽  
The United States ◽  
Organised Crime ◽  
The Past ◽  
Banking Structure ◽  
Organised Crime Groups

Over the past decade the Russian Mafia has established itself as capable of causing serious disruptions within the world's financial markets. Organised crime groups control a substantial number of the banks within Russia and as a consequence they are capable of infiltrating major sources of money supply and taking control of legitimate businesses, both foreign and domestic. Once an organised crime group has entered the banking structure, it can expand its operations by using the veneer of legitimacy provided by the bank as a source of utility for further criminal ventures. The laundering of illegal proceeds, both national and international, has now become one of the major activities conducted by Russian organised crime groups in the former Soviet Union.

International Research and Variation in Views of Ethnicity

2012 ◽  
Vol 2 (2) ◽  
pp. 66-72
Author(s):  
Ella Inglebret ◽  
Amy Skinder-Meredith ◽  
Shana Bailey ◽  
Carla Jones ◽  
Ashley France
Keyword(s):  
United States ◽  
Classification System ◽  
International Research ◽  
The United States ◽  
Research Articles ◽  
Journal Articles ◽  
Research Participants ◽  
The Past ◽  
International Scale ◽  
Publication Patterns

The authors in this article first identify the extent to which research articles published in three American Speech-Language-Hearing Association (ASHA) journals included participants, age birth to 18 years, from international backgrounds (i.e., residence outside of the United States), and go on to describe associated publication patterns over the past 12 years. These patterns then provide a context for examining variation in the conceptualization of ethnicity on an international scale. Further, the authors examine terminology and categories used by 11 countries where research participants resided. Each country uses a unique classification system. Thus, it can be expected that descriptions of the ethnic characteristics of international participants involved in research published in ASHA journal articles will widely vary.

Proportion of Individuals With Past-Year Suicidal Ideation Who Attempted Suicide Over the Past 10 Years in the United States, and the Influence of Age and Sex

Crisis ◽  
2020 ◽  
pp. 1-5
Author(s):  
Shannon Lange ◽  
Courtney Bagge ◽  
Charlotte Probst ◽  
Jürgen Rehm
Keyword(s):  
United States ◽  
Suicidal Ideation ◽  
Random Effects ◽  
Attempted Suicide ◽  
Suicide Attempts ◽  
The United States ◽  
Individual Level ◽  
The Past ◽  
Meta Analyses ◽  
Age Category

Abstract. Background: In recent years, the rate of death by suicide has been increasing disproportionately among females and young adults in the United States. Presumably this trend has been mirrored by the proportion of individuals with suicidal ideation who attempted suicide. Aim: We aimed to investigate whether the proportion of individuals in the United States with suicidal ideation who attempted suicide differed by age and/or sex, and whether this proportion has increased over time. Method: Individual-level data from the National Survey on Drug Use and Health (NSDUH), 2008–2017, were used to estimate the year-, age category-, and sex-specific proportion of individuals with past-year suicidal ideation who attempted suicide. We then determined whether this proportion differed by age category, sex, and across years using random-effects meta-regression. Overall, age category- and sex-specific proportions across survey years were estimated using random-effects meta-analyses. Results: Although the proportion was found to be significantly higher among females and those aged 18–25 years, it had not significantly increased over the past 10 years. Limitations: Data were self-reported and restricted to past-year suicidal ideation and suicide attempts. Conclusion: The increase in the death by suicide rate in the United States over the past 10 years was not mirrored by the proportion of individuals with past-year suicidal ideation who attempted suicide during this period.

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