scholarly journals Corporate Governance and Commercial Banking: A Comparative Examination of Germany, Japan, and the United States

1995 ◽  
Vol 48 (1) ◽  
pp. 73 ◽  
Author(s):  
Jonathan R. Macey ◽  
Geoffrey P. Miller
Keyword(s):  
United States ◽  
Corporate Governance ◽  
The United States ◽  
Commercial Banking ◽  
Comparative Examination

The Statistics of American Commercial Banking, 1782–1818

1965 ◽  
Vol 25 (3) ◽  
pp. 400-413 ◽  
Author(s):  
J. Van Fenstermaker
Keyword(s):  
United States ◽  
Economic Development ◽  
Capital Stock ◽  
Annual Report ◽  
The United States ◽  
Commercial Banking ◽  
Early America ◽  
Bank Note ◽  
Treasury Department

In spite of its importance to economic development, much remains unknown about commercial banking in early America. The Historical Statistics of the United States gives the number of banks, their capital stock, bank note circulation, deposits, and specie for only four years prior to 1830, and these data are far from complete. Economic and financial historians generalize about this period from statistics presented in Albert Gallatin's Considerations on the Currency of the United States and from the reports of the Treasury Department, summarized in the Annual Report of the Comptroller of the Currency, 1876.

Financial accounting scandals and the reform of corporate governance in the United States and in Italy

2017 ◽  
Vol 17 (1) ◽  
pp. 77-88 ◽  
Author(s):  
Daniel P. Sorensen ◽  
Scott E. Miller
Keyword(s):  
United States ◽  
Corporate Governance ◽  
Financial Reporting ◽  
The United States ◽  
Class Action ◽  
Financial Accounting ◽  
Private Enforcement ◽  
Content Type ◽  
Accounting Scandals ◽  
The Usa

Purpose In the 1990s and beginning of the next decade, a series of financial accounting scandals occurred in the United States (USA or US) and in several other countries of the world. The USA and Italy (among others) responded with legislation to reform financial reporting and corporate governance in these jurisdictions. This paper aims to compare the regulatory response of Italy to that of the USA. Design/methodology/approach This paper includes a review of relevant literature and evaluation of the actions of the regulatory authorities. Findings In the case of the financial reporting crises, the rapid response put the USA into the role of the “first mover” with the European Union (EU) reacting to US initiatives and eventually converging to a large degree with the provisions of the US legislation. Italy has adopted many of the same regulatory reforms as the USA and has added some reforms that are directed to the specific needs to Italy. Research limitations/implications In conjunction with legislative initiatives like Sarbanes-Oxley, private enforcement mechanisms, such as shareholder class action suits in the USA, play an important role in discouraging and punishing financial accounting fraud. Practical implications In the absence of significant reforms of the Italian private enforcement system, corporate governance abuses and the potential for accounting scandals may still be persistent. As a whole, cooperative efforts continue between the USA and the EU. Such efforts are needed more and more, as companies become increasingly globalized. Originality/value This paper provides comparison and evaluation of corporate governance reform efforts in the USA and Italy.

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