scholarly journals Economic Conditions And The SECs Enforcement Process

2011 ◽  
Vol 11 (2) ◽  
pp. 23 ◽  
Author(s):  
Mahmoud M. Nourayi
Keyword(s):  
Securities Market ◽  
Economic Conditions ◽  
Economic Downturn ◽  
Regulatory Behavior ◽  
Economic Downturns ◽  
Business Behavior ◽  
The U.S

This study analyzes enforcement activities of the U.S. Security and Exchange Commission (SEC) in conjunction with changes in economic conditions. Neoclassical regulatory theorists argue that regulators are pro-business during periods of economic downturn. However, within the securities market and the regulated reporting environments violations tend to increase during contraction periods. Therefore, more intense enforcement activities seem appropriate during such periods. The intensity of SEC enforcement activities, subject to economic conditions, is examined based on the number of litigation releases issued by the Commission over a twenty year (1972-1991) period. The test of regulatory behavior revealed that enforcement activities are more intense during economic downturns. Thus the theory that regulators exhibit pro-business behavior during economic contraction is not supported by the results of this study.

scholarly journals Washington View: Education + Money = Freedom

2020 ◽  
Vol 102 (2) ◽  
pp. 62-63
Author(s):  
Maria Ferguson
Keyword(s):  
Education System ◽  
Learning Opportunities ◽  
Economic Conditions ◽  
Economic Downturn ◽  
The U.S ◽  
School Spending

The COVID-19 pandemic and related economic downturn has made the persistent inequities in the U.S. education system even more evident than before. In her monthly Kappan column, Maria Ferguson discusses how approaches to school spending have failed to respond adequately and fairly to economic conditions. On top of the differences in funding is the phenomenon of wealthy parents spending their money to find ways out of the system by, for example, creating pandemic pods that enable their children to have in-person learning opportunities that aren’t likely to be available for poorer children. Examples like this may look like “education freedom,” but it’s freedom only available for a few.

scholarly journals Economic Conditions at School Leaving and Sleep Patterns Across the Life Course

2017 ◽  
Vol 17 (2) ◽  
Author(s):  
Johanna Catherine Maclean ◽  
Terrence D. Hill
Keyword(s):  
Sleep Quality ◽  
Instrumental Variables ◽  
Longitudinal Survey ◽  
Economic Conditions ◽  
Economic Downturn ◽  
Sleep Quantity ◽  
Quality Sleep ◽  
The Life Course ◽  
Over Time ◽  
Work Type

Abstract We use data drawn from the National Longitudinal Survey of Youth 1979 Cohort to study the effects of leaving school in an economic downturn on sleep quality and quantity. We account for the potential endogeneity of economic conditions at school leaving using instrumental variables based on birth year and early state of residence. We find that men who leave school in an economic downturn initially experience lower quality sleep, but these men are able to experience improved sleep quality over time. Women who leave school in an economic downturn experience better sleep quality, although the effect emerges over time. We find that leaving school in an economic downturn increases sleep quantity among men and women. We document heterogeneity by work type.

Why Countries ‘Get Tough on the Work-Shy’: The Role of Adverse Economic Conditions

2018 ◽  
Vol 48 (03) ◽  
pp. 615-634 ◽  
Author(s):  
CARLO KNOTZ
Keyword(s):  
Social Policy ◽  
Social Protection ◽  
Economic Conditions ◽  
Unemployment Benefit ◽  
Clear Trend ◽  
Original Dataset ◽  
Large N ◽  
Economic Downturns ◽  
Historical Periods

AbstractThere has been a clear trend toward greater conditionality and coercion in labour market and social policy in recent decades, a key part of which is tougher sanctions for unemployment benefit claimants who refuse offers of employment or otherwise fail to comply with their obligations. Our understanding of this trend and its determinants is so far built only on a corpus of small-N evidence, while systematic comparative large-N analyses are lacking. As a result, the broad patterns of policy change and their general political drivers remain underexplored. This paper fills this gap by examining unemployment benefit sanction reforms in 20 democracies between 1980 and 2012 using an original dataset. It is shown that governments introduce tougher sanctions in order to reconcile two competing pressures that arise during economic downturns: an increased need for social protection and reduced fiscal revenues. The findings, which are also applicable to other historical periods and policy areas, provide an impulse for future comparative large-N research on ‘demanding activation’ policies.

scholarly journals Investors´ protection in the U.S.: the issue of mandatory arbitration clauses in contracts between investors and brokerage/advisory firms

2017 ◽  
Vol 13 (2) ◽  
pp. 520-536
Author(s):  
DÉBORA CHAVES MARTINES FERNANDES
Keyword(s):  
United States ◽  
American Literature ◽  
Supreme Court ◽  
Securities Market ◽  
Middle Ground ◽  
Arbitration Clause ◽  
Pros And Cons ◽  
The U.S

Abstract This paper proposes a review of the American literature, as well as the main rulings of Supreme Court of United States, aiming to map the pros and cons of inserting a mandatory pre-dispute arbitration clause in contracts between investors and brokerage/advisory firms that trade on the securities market. The study discusses some proposals to banish this sort of clause and some ideas to reach a middle ground solution.

scholarly journals Price and Size Discovery in Financial Markets: Evidence from the U.S. Treasury Securities Market

2018 ◽  
Vol 9 (2) ◽  
pp. 256-295 ◽  
Author(s):  
Michael J Fleming ◽  
Giang Nguyen
Keyword(s):  
Yield Curve ◽  
Securities Market ◽  
Order Flow ◽  
Treasury Securities ◽  
Oxford University ◽  
Informed Traders ◽  
Nature Of Information ◽  
Editorial Decision ◽  
To Come ◽  
The U.S

Abstract We study the workup protocol, an important size discovery mechanism in the U.S. Treasury market. We find that workup order flow shocks explain 6%–8% of the variation of returns on benchmark notes and, across maturities, 10% of the variation of the yield curve level factor. Information related to proprietary client order flow is more likely to show up in workup trades, whereas information derived from public announcements tends to come through preworkup trades. Our findings highlight how the nature of information affects the trade-off between speed and execution price when informed traders choose between the lit and workup channels. Received May 3, 2017; Editorial decision August 1, 2018 by Editor Thierry Foucault. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online. Internet Appendix tables are numbered with “IA” prefix.

scholarly journals President Obama, poverty, and the scope and limits of social policy change

2019 ◽  
Vol 35 (1) ◽  
pp. 96-111 ◽  
Author(s):  
Alex Waddan
Keyword(s):  
Social Policy ◽  
Policy Change ◽  
Economic Conditions ◽  
Medicaid Program ◽  
President Obama ◽  
Policy Initiatives ◽  
The Poor ◽  
Poverty Measures ◽  
The Us ◽  
The U.S

AbstractThere has been a growing discussion in recent years about rising inequality in the U.S. Yet, this discourse, in focusing on the fortunes of the top 1%, distracted attention from the design of policy initiatives aimed at improving socio-economic conditions for the poor. This paper examines the development of anti-poverty politics and policy in the US during the Obama era. It analyses how effective the strategies and programmes adopted were and asks how they fit with models of policy change. The paper illustrates that the Obama administration did adopt an array of anti-poverty measures in the stimulus bill, but these built on existing programmes rather than create new ones and much of the effort was stymied by institutional obstacles. The expansion of the Medicaid program, which was part of the ACA, was also muted by institutional opposition, but it was a more path breaking reform than is often appreciated.

Long-Term Impact of Economic Conditions on Auditors' Judgment

2018 ◽  
Vol 93 (6) ◽  
pp. 203-229 ◽  
Author(s):  
Xianjie He ◽  
S. P. Kothari ◽  
Tusheng Xiao ◽  
Luo Zuo
Keyword(s):  
Financial Reporting ◽  
Formative Period ◽  
Early Career ◽  
Economic Conditions ◽  
Career Stage ◽  
Audit Opinion ◽  
Economic Downturns ◽  
Long Term Impact ◽  
Jel Classifications

ABSTRACT We find that economic conditions at the time an auditor enters the labor market have a long-term impact on her judgment and decision making. Specifically, engagement partners who started their career during economic downturns issue audit adjustments more frequently. For the subsample of company-years with no audit adjustments, downturn auditors are more likely to issue a modified audit opinion. In addition, companies audited by downturn auditors are less likely to violate financial reporting and disclosure regulations. Together, our findings suggest that the early career stage is a critical formative period for auditors. JEL Classifications: J24; M42.

scholarly journals What’s Left? Political orientation, economic conditions and incarceration in Greece under Syriza-led government

2020 ◽  
pp. 147737082096656
Author(s):  
Leonidas K. Cheliotis ◽  
Sappho Xenakis
Keyword(s):  
Political Orientation ◽  
Economic Conditions ◽  
The Political ◽  
Economic Downturn ◽  
Left Wing ◽  
State Punishment ◽  
National Economic ◽  
Political Spectrum ◽  
The One ◽  
Fiscal Implications

An important body of scholarly work has been produced over recent decades to explain variation in levels and patterns of state punishment across and within different countries around the world. Two variables that have curiously evaded systematic attention in this regard are, first, the orientation of incumbent governments along the political spectrum, and second, the experience and fiscal implications of national economic downturn. Although recent years have seen both variables receive somewhat greater consideration, there is still precious little research into the effects on state punishment that they have in interaction with one another. With a view to helping fill this gap in the literature, this article identifies the direction and assesses the extent of influence exerted by government political orientation, on the one hand, and by economic downturn alongside its fiscal repercussions, on the other hand, upon the evolution of incarceration in the context of contemporary Greece. In so doing, we offer a uniquely detailed account of carceral trends before and during the period that a coalition government led by the left-wing Syriza party was in power. With regard to carceral trends as such, the scope of our analysis extends beyond conventional imprisonment also to include immigration detention. As well as arguing that economic downturn can place crucial limits on a government’s ability to execute progressive plans in carceral matters, we additionally conclude that a government’s scope of action in this vein may be further restricted depending on the autonomy it can wield in defiance of foreign forces intervening in both economic and political realms.

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