Part I General Aspects, 5 The Disclosure Paradigm: Conventional Understandings and Modern Divergences

2020 ◽  
Author(s):  
Hu Henry T C
Keyword(s):  
United States ◽  
Technological Innovation ◽  
Financial Innovation ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Financial Innovations ◽  
The Core ◽  
Corporate Governance Mechanisms ◽  
Core Mission ◽  
General Aspects

This chapter focuses on the United States' (US) disclosure paradigm. It explains that the disclosure paradigm contemplates a unique regulatory role for the Securities and Exchange Commission (SEC). Here, the fulfilment of its core mission is essential not only to investor protection and market efficiency, but to a wide variety of transparency-dependent corporate governance mechanisms. Financial innovation is contributing to a ‘too complex to depict’ problem that brings into question the sufficiency of the core approach to information that the SEC has used since its creation. Moreover, particular financial innovations pose product-specific challenges to the fulfilment of the SEC's mission. Additionally, changing conceptions of the ends to be achieved by public disclosure, within the SEC disclosure system itself and pursuant to a new disclosure system driven by regulators with far different mindsets, raise new issues. It is now demonstrable that the new modes of information and the alternative data made possible by technological innovation can help address some of the disclosure challenges posed by financial innovation. At the same time, these new modes and alternative data introduce regulatory complexities. The chapter thus concludes that modern divergences are making life interesting for regulators, practitioners, and academics alike.

scholarly journals Analysis Of The Relationship Between Economic Cycle Swings And Adoption Rate Models Of Financial Innovation Diffusion

2015 ◽  
Vol 13 (2) ◽  
pp. 103
Author(s):  
Acie S. Forrer ◽  
Donald A. Forrer
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Innovation Diffusion ◽  
Financial Innovation ◽  
The United States ◽  
Unintended Consequences ◽  
Financial Industry ◽  
Economic Cycle ◽  
Financial Innovations ◽  
The Relationship

The United States financial crisis, starting with the credit boom of 2007 and ending with the failure of Lehman Brothers in September 2008, has led to a loss of confidence in the United States financial system. The Financial Crisis Inquiry Commission indicated that the financial crisis affected over 26 million Americans. Many scholars have attributed the crisis to financial innovations, such as mortgage backed securities, adjustable rate mortgages and no-income verified loans, as key innovations that led to the market collapse. Financial innovations have had both positive and negative impacts on the financial industry. Providing a framework that describes the relationship between economic cycle swings and adoption rates of innovative financial instruments can provide greater stability and predictability in financial innovation diffusion, which can lead to more stable returns for shareholders and enhance the public interest through a healthy, innovative and more stable financial industry. An abbreviated evidence-based systematic review was completed on financial innovations that led to the financial crisis of 2007. The research suggests that there is an equilibrium period of time that financial organizations can adopt innovation to avoid unintended consequences like the recent financial crisis. Providing a framework of adoption time can demonstrate where financial innovations can be absorbed to provide the organization with the ability to financially innovate during pro and counter cyclical economic periods. Through an understanding of the timing of financial innovations as they occur in economic cycles, managers of financial organizations can choose the adoption period of time more carefully which could have averted the financial crisis that affected millions of Americans.

Introduction

2017 ◽  
Author(s):  
Andrea Harris
Keyword(s):  
United States ◽  
Historical Context ◽  
The United States ◽  
Art World ◽  
Dance History ◽  
The Core ◽  
Political Conditions ◽  
Global Art ◽  
Scholarly Attention

The introduction presents the core historiographical problem that Making BalletAmerican aims to correct: the idea that George Balanchine’s neoclassical choreography represents the first successful manifestation of an “American” ballet. While this idea is pervasive in dance history, little scholarly attention has been paid to its construction. The introduction brings to light an alternative, more complex historical context for American neoclassical ballet than has been previously considered. It places Lincoln Kirstein’s 1933 trip to Paris, famous for bringing Balanchine to the United States, within a transnational and interdisciplinary backdrop of modernism, during a time when the global art world was shifting significantly in response to the international rise of fascism. This context reverberates throughout to the book’s examination of American ballet as a form that was embedded in and responsive to a changing set of social, cultural, and political conditions over the period covered, 1933–1963.

Spatial Social Choice

2019 ◽  
pp. 207-244
Author(s):  
Norman Schofield
Keyword(s):  
United States ◽  
Stochastic Model ◽  
Social Choice ◽  
Spatial Models ◽  
The United States ◽  
Multinomial Logit ◽  
Experimental Results ◽  
The Core ◽  
Voting Game ◽  
Voter Choice

A key concept of social choice is the idea of the Condorcet point or core. For example, consider a voting game with four participants so any three will win. If voters have Euclidean preferences, then the point at the center will be unbeaten. Earlier spatial models of social choice focused on deterministic voter choice. However, it is clear that voter choice is intrinsically stochastic. This chapter employs a stochastic model based on multinomial logit to examine whether parties in electoral competition tend to converge toward the electoral center or respond to activist pressure to adopt more polarized policies. The chapter discusses experimental results of the idea of the core explores empirical analyses of elections in Israel and the United States.

scholarly journals Environmental justice, settler colonialism, and more-than-humans in the occupied West Bank: An introduction

2021 ◽  
Vol 4 (1) ◽  
pp. 3-27
Author(s):  
Irus Braverman
Keyword(s):  
United States ◽  
Environmental Justice ◽  
West Bank ◽  
Settler Colonialism ◽  
The United States ◽  
Special Issue ◽  
The West ◽  
The Core ◽  
Waste Concrete

Our special issue provides a first-of-its kind attempt to examine environmental injustices in the occupied West Bank through interdisciplinary perspectives, pointing to the broader settler colonial and neoliberal contexts within which they occur and to their more-than-human implications. Specifically, we seek to understand what environmental justice—a movement originating from, and rooted in, the United States—means in the context of Palestine/Israel. Moving beyond the settler-native dialectic, we draw attention to the more-than-human flows that occur in the region—which include water, air, waste, cement, trees, donkeys, watermelons, and insects—to consider the dynamic, and often gradational, meanings of frontier, enclosure, and Indigeneity in the West Bank, challenging the all-too-binary assumptions at the core of settler colonialism. Against the backdrop of the settler colonial project of territorial dispossession and elimination, we illuminate the infrastructural connections and disruptions among lives and matter in the West Bank, interpreting these through the lens of environmental justice. We finally ask what forms of ecological decolonization might emerge from this landscape of accumulating waste, concrete, and ruin. Such alternative visions that move beyond the single axis of settler-native enable the emergence of more nuanced, and even hopeful, ecological imaginaries that focus on sumud, dignity, and recognition.

scholarly journals Air Maidans, Can It Be?

Societies ◽  
2018 ◽  
Vol 8 (3) ◽  
pp. 75
Author(s):  
Zeynep Correia
Keyword(s):  
United States ◽  
Production Process ◽  
Urban Infrastructure ◽  
The United States ◽  
Capital Movement ◽  
Space Technology ◽  
The Core ◽  
Public Expression ◽  
The Uk

Airports are located at the core of the production process, but can they also be where the “revolutionary subject” is hidden? We know what airports stand for nowadays, but have we pushed for what they could possibly stand for? Can airports, as a form of urban technology, be reimagined beyond their current roles of a “space technology nexus” driving capital movement? Can we imagine, idealize, and locate them somewhere else in a period dominated by the economy of time, where speed and accessibility matter the most? In this framework, this provocative essay aims to frame airports as a protest and public expression venue. Drawing inspiration from recent examples, such as the Stansted Airport protests in the UK, the Occupy Airports protests that occurred all around the United States, and touching upon the divergent example of Turkey’s 15th of July night protests in 2016, I provide a glimpse of an alternative prospect for this key urban infrastructure.

Significant Differences in Proved Reserves Estimates Using SPE/WPC Definitions Compared to United States Securities and Exchange Commission (SEC) Definitions

2005 ◽  
Vol 8 (06) ◽  
pp. 520-527 ◽  
Author(s):  
D.R. Harrell ◽  
Thomas L. Gardner
Keyword(s):  
United States ◽  
Oil And Gas ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Classification Systems ◽  
Direct Function ◽  
Oil Companies ◽  
Publicly Owned ◽  
Hydrocarbon Reserves ◽  
The U.S

Summary A casual reading of the SPE/WPC (World Petroleum Congresses) Petroleum Reserves Definitions (1997) and the U.S. Securities and Exchange Commission(SEC) definitions (1978) would suggest very little, if any, difference in the quantities of proved hydrocarbon reserves estimated under those two classification systems. The differences in many circumstances for both volumetric and performance-based estimates may be small. In 1999, the SEC began to increase its review process, seeking greater understanding and compliance with its oil and gas reserves reporting requirements. The agency's definitions had been promulgated in 1978 in connection with the Energy Policy and Conservation Act of 1975 and at a time when most publicly owned oil and gas companies and their reserves were located in the United States. Oil and gas prices were relatively stable, and virtually all natural gas was marketed through long-term contracts at fixed or determinable prices. Development drilling was subject to well-spacing regulations as established through field rules set by state agencies. Reservoir-evaluation technology has advanced far beyond that used in 1978;production-sharing contracts were uncommon then, and probabilistic reserves assessment was not widely recognized or appreciated in the U.S. These changes in industry practice plus many other considerations have created problems in adapting the 1978 vintage definitions to the technical and commercial realities of the 21st century. This paper presents several real-world examples of how the SEC engineering staff has updated its approach to reserves assessment as well as numerous remaining unresolved areas of concern. These remaining issues are important, can lead to significant differences in reported quantities and values, and may result in questions about the "full disclosure" obligations to the SEC. Introduction For virtually all oil and gas producers, their company assets are the hydrocarbon reserves that they own through various forms of mineral interests, licensing agreements, or other contracts and that produce revenues from production and sale. Reserves are almost always reported as static quantities as of a specific date and classified into one or more categories to describe the uncertainty and production status associated with each category. The economic value of these reserves is a direct function of how the quantities are to be produced and sold over the physical or contract lives of the properties. Reserves owned by private and publicly owned companies are always assumed to be those quantities of oil and gas that can be produced and sold at a profit under assumed future prices and costs. Reserves under the control of state-owned or national oil companies may reflect quantities that exceed those deemed profitable under the commercial terms typically imposed on private or publicly owned companies.

The Business of Rhyming: Burma-Shave Poetry and Popular Culture

PMLA ◽  
2010 ◽  
Vol 125 (1) ◽  
pp. 29-47
Author(s):  
Mike Chasar
Keyword(s):  
United States ◽  
Popular Culture ◽  
The United States ◽  
Reception History ◽  
Reading Practices ◽  
Advertising Campaign ◽  
Reading And Writing ◽  
The Core ◽  
Nineteenth And Twentieth Centuries ◽  
Creative Forces

This essay uses the example of the long‐lived and popular Burma‐Shave advertising campaign to argue that literary critics should extend their attention to the vast amounts of poetry written for advertising purposes in the nineteenth and twentieth centuries. The Burma‐Shave campaign—which featured sequences of rhyming billboards erected along highways in the United States from 1926 to 1963—not only cultivated characteristics of literary and even avantgarde writing but effectively pressured that literariness into serving the commercial marketplace. At the same time, as the campaign's reception history shows, the spirit of linguistic play and innovation at the core of Burma‐Shave's poetry unintentionally distracted consumers' attention away from the commercial message and toward the creative forces of reading and writing poetry. A striking example of popular reading practices at work, this history shows how poetry created even in the most commercial contexts might resist the commodification that many twentieth‐century poets and critics feared. (MC)

Jewish Body Politics

2018 ◽  
Author(s):  
Eliyahu Stern
Keyword(s):  
United States ◽  
Minority Rights ◽  
The United States ◽  
Body Politics ◽  
Eastern European ◽  
The Core ◽  
Two Sides ◽  
Core Features

The idea of a Jewish body provides the background to understand the major Jewish migrations, the core features of modern Jewish politics, the transformation of Judaism as a religion and the role played by Jews in the Minority Rights Movement. Eastern European Jews’ immigration to the United States or Palestine as two sides of the same coin.

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