Regulatory change in Australia and New Zealand following the global financial crisis

2015 ◽  
Vol 7 (1) ◽  
pp. 8-28 ◽  
Author(s):  
Christine Ann Brown ◽  
Kevin Davis ◽  
David Mayes
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Regulatory Change ◽  
Content Type ◽  
Regulatory Changes ◽  
Global Standards ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – The purpose of this study is to explain rationale for regulatory change in Australia and New Zealand after the global financial crisis. Design/methodology/approach – Outline regulatory changes and relate to crisis experience and regulatory shortcomings exposed. Findings – Regulatory change was driven primarily by need, as capital importing nations, to comply with emerging global standards, and the different approaches in both nations are also related to domestic political considerations. Research limitations/implications – The process of regulatory change in response to the crisis is ongoing. Practical implications – A number of areas for further improvement in financial regulation are identified. Social implications – Costs of poor regulation and financial crises are identified. Originality/value – A comparison of regulatory approaches in two countries dominated by the same four large banks helps understand the challenges of cross-border financial regulation cooperation.

Taking the ethical lead

2020 ◽  
Vol 34 (4) ◽  
pp. 37-39
Keyword(s):  
Financial Crisis ◽  
Oil Spill ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Content Type ◽  
Lehman Brothers ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings Take any financial or environmental scandal perpetrated by a major company – and unfortunately, there are quite a few to choose from – and people will tend to remember what went wrong and some of the fallout from the scandal, but it is unlikely they will know much about why something went wrong. For example, people will remember that Lehman Brothers went bust during the global financial crisis (GFC) in 2008 and can picture its employees leaving its offices with Iron Mountain boxes. They will also perhaps remember the Exxon Valdez oil spill in Alaska in 1989, and the devastation it caused the local wildlife. But does anyone remember exactly why these events occurred? Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

House prices and credit cycles: the case of Cyprus

2020 ◽  
Vol 38 (6) ◽  
pp. 539-550
Author(s):  
Dario Pontiggia ◽  
Petros Stavrou Sivitanides
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
House Prices ◽  
House Price ◽  
Equation Model ◽  
Housing Demand ◽  
Content Type ◽  
Bank Deposits ◽  
The Global Financial Crisis ◽  
Practical Implications

PurposeThe purpose of this paper is to assess whether the rapid accumulation of bank deposits before the global financial crisis and their subsequent drastic reduction was the main driving force of the Cyprus house price cycle over the period 2006–2015.Design/methodology/approachTo this aim we estimate a three-equation model in which house prices are determined by housing loans, among other factors, and housing loans are determined by bank deposits. All equations are estimated using partial adjustment model specifications.FindingsOur findings indicate that housing loans, which capture the effect of credit availability on housing demand, had the smallest effect on house prices, thus providing little support to our proposition of a deposits-driven cycle in house prices.Research limitations/implicationsThe main limitation of the study is the use of the housing loan stock instead of the actual volume of housing loans in each period due to lack of such data. As a result our econometric estimates may not accurately capture the magnitude of the effect of housing loans on house prices.Practical implicationsThe study has important practical implications for policy makers as it highlights the importance of availability of credit in supporting effective demand for housing during periods of economic growth. Furthermore, it highlights the key role of house price increases in combination with the collateral effect in driving the house price cycle.Originality/valueThis is among the few studies internationally and the first study in Cyprus that attempts to link econometrically the credit and house price cycles that were caused by the global financial crisis.

Is HRD weaker after financial crisis?

2016 ◽  
Vol 24 (2) ◽  
pp. 36-38
Keyword(s):  
Financial Crisis ◽  
Human Resource Development ◽  
Global Financial Crisis ◽  
Low Cost ◽  
Personal Control ◽  
Sustainable Business ◽  
Content Type ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Participants reported diminishing personal control over changes within the workplace and a cultural shift toward a harsher working climate in the UK following the global financial crisis. Human resource development was considered as silenced or absent and associated solely with low cost-based e-learning rather than acting in a strategic role to support sustainable business objectives. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Three rules for strategy at Deloitte Consulting

2015 ◽  
Vol 32 (1) ◽  
pp. 35-37
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Business Leaders ◽  
Content Type ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – A lot has been written of the consequences of the global financial crisis (GFC) in the late 2000s – who was to blame, who should have seen it coming, who didn’t see it coming and who claimed to have predicted it years later. Such speculation has contributed to what might be termed a “global crisis of confidence”, as all the established rules went out of the window. Business leaders didn’t know who to trust any more, and decision-making suddenly got a lot more difficult as a result. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Economic performance, export, systemic barriers and equity investments in innovative companies

2014 ◽  
Vol 6 (1) ◽  
pp. 33-65
Author(s):  
Lukasz Prorokowski
Keyword(s):  
Financial Crisis ◽  
Economic Performance ◽  
Global Financial Crisis ◽  
Portfolio Diversification ◽  
Content Type ◽  
International Portfolio Diversification ◽  
International Portfolio ◽  
Equity Investments ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – This paper attempts to provide insights into the functioning of innovative companies in times of the global financial crisis. In doing so, the following study investigates whether innovations protected companies from the adverse effects of the global recession. On this occasion, the paper analyzes the economic performance of innovative industries in Poland, highlighting institutional and systemic barriers that curb their development. The main purpose of this paper is to clarify whether targeting innovative companies for equity investments proved beneficial during the global financial crisis. Design/methodology/approach – This paper employs the mean return per unit of risk (MRPUR) analysis in order to investigate international portfolio diversification opportunities delivered by targeting innovative companies for equity investments in times of the global financial crisis. The paper also uses interviews and questionnaires to broaden the knowledge about issues related to the functioning of innovative companies. This is motivated by the fact that the research remains under-researched by the reviewed studies. Findings – The paper links innovations in business strategy and production to the ability of companies to resist the global financial crisis. This paper argues that innovative approach to business strategies proved far more profitable for companies than relying on novelties in production. Furthermore, the paper provides strong evidence that innovative companies could contribute to mitigation of the global economic downturn by stimulating the sustainable economic growth in Poland. As far as the main purpose of this paper is concerned, the current study delivers useful and informative insights into the international portfolio diversification processes that assume targeting innovative investees. Practical implications – This paper delivers practical implications for innovative companies, market regulators, policymakers and international investors. Originality/value – The current paper addresses the absence of the academic literature devoted to the analysis of financial performance of the Polish investee companies representing innovative industries. In doing so, this paper advises on changes in regulations that would facilitate further development of innovative companies. Moreover, the paper paints the picture of the investment environment prevailing in the Central European emerging stock market of Poland. Hereto, delivering general insights into the functioning and regulatory framework of the Polish stock market proves useful in assessing the economic and financial development of Poland.

Greed is (still) good

2014 ◽  
Vol 30 (6) ◽  
pp. 29-31 ◽  
Keyword(s):  
Financial Crisis ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
East India Company ◽  
Content Type ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Dot Com ◽  
Practical Implications

Purpose – The purpose of this paper is to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings – There are some business phenomena that, like fashion, never seem to go away, or be truly original. Think of the drainpipe trousers that first saw the light in the nineteenth century, or the 1970s frilly shirts that were not a patch on those worn in Elizabethan times. Similarly, the global financial crisis was not a Great Depression, and the dot-com bubble could not hold a candle to the bubble that did for the East India Company all those years ago. Practical implications – This study provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Original/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and an easy-to-digest format.

Does disclosure of earnings forecasts regulation affect the valuation of IPOs? Evidence from an emerging country

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chui Zi Ong ◽  
Rasidah Mohd-Rashid ◽  
Waqas Mehmood ◽  
Ahmad Hakimi Tajuddin
Keyword(s):  
Financial Crisis ◽  
Initial Public Offerings ◽  
Global Financial Crisis ◽  
Earnings Forecasts ◽  
Regulatory Change ◽  
Content Type ◽  
Crisis Period ◽  
Earnings Information ◽  
The Global Financial Crisis ◽  
The Impact

PurposeThis paper aimed to explore the effect of a regulatory change pertaining to earnings forecasts disclosure from a mandatory to a voluntary regime on the valuation of Malaysian initial public offerings (IPOs).Design/methodology/approachThe study employed ordinary least square (OLS) regression and quantile regression to analyse the impact of disclosure of earnings forecasts regulation on the valuation of IPOs which comprised 458 IPOs reported for the period 2000–2017 on Bursa Malaysia.FindingsThis paper revealed that the regulatory change in forecasted earnings disclosure from a mandatory to a voluntary regime, effective from 1 February 2008, had a negative impact on the valuation of IPOs. The regime change did not improve the transparency of firms issuing IPOs. In fact, the absence of forecasted earnings information in most IPO prospectuses caused ex ante uncertainties to increase. Voluntary disclosure, however, had a significant positive relationship with the valuation of the IPOs issued during the global financial crisis period (2008–2010). Firms concealed their poor qualities by excluding forecasted earnings information from their prospectuses in order to have a fair valuation.Practical implicationsThe findings may be used by policymakers as guidance in improving the existing regulation regarding the disclosure of forecasted earnings.Originality/valueThis paper provides new insight on the effect of a regulatory change pertaining to earnings forecasts disclosure from a mandatory to a voluntary regime on the valuation of Malaysian IPOs. It also provides evidence that the regulatory change of earnings forecast disclosure affects the IPOs' values listed during the global financial crisis period.

Survival of the fittest?

2017 ◽  
Vol 33 (7) ◽  
pp. 26-28
Keyword(s):  
Financial Crisis ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Content Type ◽  
Western Films ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Survival Of The Fittest ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings One of the less-discussed and analyzed phenomena in the wake of the global financial crisis (GFC) in 2008 was just how resilient, and even successful, some businesses had become. In the same way that in Western films the undertakers profited, when a new sheriff came to town to crack down on the bad guys, there is strong school of thought that certain types of firms and industries will benefit when all around them are failing. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals Are business school deans doomed? The global financial crisis, Brexit and all that

2016 ◽  
Vol 35 (7) ◽  
pp. 901-915 ◽  
Author(s):  
Julie Davies
Keyword(s):  
Financial Crisis ◽  
Business School ◽  
Global Financial Crisis ◽  
Multiple Stakeholders ◽  
Educational Models ◽  
Content Type ◽  
Different Types ◽  
Strategic Role ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – The purpose of this paper is to focus on different types of university-based business school dean (BSD) in a context of insecurities within the business school business and more widely with changing business and educational models and disruptions such as the global financial crisis and Brexit. The position of the BSD is contextualised within the industry sector, institutionally, and in relation to individuals’ tenures to make sense of how BSDs are operating on a burning platform. A well-established middle management strategic role framework is applied to the empirical data. Design/methodology/approach – In total, 50 one-to-one interviews were conducted with deans and their colleagues. Deans’ behaviours were analysed according to attention paid to “facilitating”, “synthesizing”, “championing”, and “implementing” strategic activities. Findings – Behaviours from primary professional identities as scholars and educators were identified as prevalent. It is suggested that to achieve greater legitimacy in declining mature markets, future deans will need to re-negotiate their roles to champion as public intellectuals the societal impact of business schools more widely in a context of shifting business and educational models. Practical implications – The study is relevant to current and aspiring deans and for those hiring and developing business school deans. Originality/value – The dean is conceptualised as a hybrid upper middle manager besieged by multiple stakeholders and challenges. Novel first-order insights into a typology of strategists are highlighted.

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