scholarly journals The Impact of Financial Crisis on Insurance Sector and the Regulatory Response

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
NURUL SYUHADA BINTI ZAIDI ◽  
Nazaria Md Aris ◽  
Suzila Mohamed Yusof
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Solvency Ii ◽  
2008 Financial Crisis ◽  
Regulatory Response ◽  
Insurance Sector ◽  
The Future ◽  
The 2008 Financial Crisis ◽  
The Impact

This paper aims to discuss what happen during the 2008 financial crisis and the reason behind it. This paper also aims to analyze the impact of the financial crisis to insurance sector and how they react. This paper also discussed the Solvency II (applied by the European Commission) as well as the Malaysian Risk-Based Capital.  Lastly, this paper also provides some observation and suggestion on how similar crisis can be avoided in the future as well as ways to improve the regulations.

RESPONSE OF STOCK MARKET DURING COVID-19 AND 2008 FINANCIAL CRISIS: A COMPARATIVE EVIDENCE FROM BRICS NATIONS

2021 ◽  
pp. 1-24
Author(s):  
SANJEEV KUMAR ◽  
JASPREET KAUR ◽  
MOSAB I. TABASH ◽  
DANG K. TRAN ◽  
RAJ S DHANKAR
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
2008 Financial Crisis ◽  
First Case ◽  
Egarch Model ◽  
The 2008 Financial Crisis ◽  
The Impact

This study attempts to examine the response of stock markets amid the COVID-19 pandemic on prominent stock markets of the BRICS nation and compare it with the 2008 financial crisis by employing the GARCH and EGARCH model. First, average and variance of stock returns are tested for differences before and after the pandemic, t-test and F-test were applied. Further, OLS regression was applied to study the impact of COVID-19 on the standard deviation of returns using daily data of total cases, total deaths, and returns of the indices from the date on which the first case was reported till June 2020. Second, GARCH and EGARCH models are employed to compare the impact of COVID-19 and the 2008 financial crisis on the stock market volatility by using the data of respective stock indices for the period 2005–2020. The results suggest that the increasing number of COVID-19 cases and reported death cases hurt stock markets of the five countries except for South Africa in the latter case. The findings of the GARCH and EGARCH model indicate that for India and Russia, the financial crisis of 2008 has caused more stock volatility whereas stock markets of China, Brazil, and South Africa have been more volatile during the COVID-19 pandemic. The study has practical implications for investors, portfolio managers, institutional investors, regulatory institutions, and policymakers as it provides an understanding of stock market behavior in response to a major global crisis and helps them in taking decisions considering the risk of these events.

Assessing the Impact of the 2008 Financial Crisis on the Labor Force, Employment, and Wages of Persons with Disabilities in Spain

2018 ◽  
Vol 29 (3) ◽  
pp. 178-188 ◽  
Author(s):  
Marco Garrido-Cumbrera ◽  
Jorge Chacón-García
Keyword(s):  
Financial Crisis ◽  
Labor Force ◽  
Educational Level ◽  
People With Disabilities ◽  
The United States ◽  
Average Wage ◽  
2008 Financial Crisis ◽  
Persons With Disabilities ◽  
The 2008 Financial Crisis ◽  
The Impact

The financial crisis of 2008 has had a greater effect on people with disabilities than on those without disabilities in Spain. In recent years, the number of persons with disabilities registered as part of the labor force and having a higher educational level has increased. However, the unemployment rate among people with disabilities has grown at a faster pace, especially for women and young people. A similar situation has occurred with respect to the annual gross average wage; the gap between those with and without disabilities has increased in the years following the crisis. The present study reveals that Spanish public policies aimed at improving levels of employment for people with disabilities have not achieved the expected results. Here, we explore the possible causes and compare the results with those obtained in the United States.

scholarly journals The impact of IFRS mandatory adoption on KPIs disclosure quality

2021 ◽  
Vol 11 (3) ◽  
pp. 55-66
Author(s):  
Nadia Cheikh Rouhou ◽  
Fatma Wyème Ben Mrad Douagi ◽  
Khaled Hussainey ◽  
Ahmad Alqatan
Keyword(s):  
Financial Crisis ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Disclosure Quality ◽  
2008 Financial Crisis ◽  
Special Events ◽  
Management Commentary ◽  
Mandatory Adoption ◽  
The 2008 Financial Crisis ◽  
The Impact

The aim of this study is to investigate context, the impact of International Financial Reporting Standards (IFRS) on the Key Performance Indicators’ (KPIs) disclosure quality in the United Kingdom (UK). We used the UK listed firms FTSE 350 in the stock exchange market during the pre-IFRS period and the post-IFRS period (2003 to 2004, and 2006 to 2013). In particular, we examine special events such as the emergence of the 2006 UK Accounting Standard Body (ASB) Guidelines for KPIs best practice, the 2010 IFRS Management Commentary, and the phenomenon of the 2008 financial crisis. The results of this paper show that the UK’s mandatory adoption of IFRS has had a positive and significant effect on the KPIs’ disclosure quality. The results demonstrate, also, that together with the emergence of the 2006 UK ASB Guidelines, the 2008 financial crisis, and the 2010 IFRS Management Commentary have had a positive and significant influence on the quantity and quality of the KPIs’ disclosure.

Electoral Choice—Voter Demand and Party Supply

2018 ◽  
Author(s):  
Russell J. Dalton
Keyword(s):  
Financial Crisis ◽  
2008 Financial Crisis ◽  
Party Positions ◽  
Electoral Choice ◽  
The 2008 Financial Crisis ◽  
European Election ◽  
Voting Decisions ◽  
Election Studies ◽  
The Impact ◽  
Over Time

This chapter examines the impact of the economic and cultural cleavages on Europeans’ voting choices over time. There is a strong and persisting influence of the economic cleavage on voting choices with little change after the 2008 financial crisis. There is also a growing importance of the cultural cleavage. In recent elections, the cultural cleavage outweighs the influence on the economic cleavage. The polarization of party positions on the cultural cleavage increases the influence of this cleavage, but the same pattern is not apparent for the economic cleavage. The salience of each cleavage also affects its weight in voting decisions. European voters and parties have realigned their positions so that both cleavages are now important for electoral choice. The analyses are based on the European Election Studies in 1979, 2009, and 2014.

The Neodevelopmentalist Front and Mercosur under the PT Governments: The Rise and Fall of Multidimensional Regionalism

2021 ◽  
pp. 0094582X2110293
Author(s):  
Tatiana Berringer
Keyword(s):  
Financial Crisis ◽  
Regional Integration ◽  
Political Process ◽  
The Political ◽  
2008 Financial Crisis ◽  
The Social ◽  
Integration Mechanisms ◽  
The 2008 Financial Crisis ◽  
The Impact ◽  
The Relationship

An analysis of the relationship between classes and class fractions and Mercosur under the PT (Workers’ Party) governments suggests that the transition from the open regionalism of the 1990s to the multidimensional regionalism of the 2000s and the crisis of the latter were linked to the overlap between the regional integration mechanisms Unasur and Mercosur and the social base of the neodevelopmentalist front. Multidimensional regionalism went into crisis after 2012, when the country began to suffer the impact of the 2008 financial crisis and changes in international politics and when the political process that culminated in the 2016 coup began. Uma análise da relação entre as classes e frações de classe e o Mercosul dos governos PT sugere que a transição do regionalismo aberto dos anos 1990 para o regionalismo multidimensional dos anos 2000 e a crise deste últimoestão ligados à imbricação entre os processos de integração regional, Unasur e Mercosur, e a base social da frente neodesenvolvimentista. O regionalismo multidimensional entrou em crise a partir de 2012 quando o país começou a sofrer mais o impacto da crise financeira de 2008 e das transformações na política internacional e iniciou-se o processo político que culminou no golpe de 2016.

Schemes of Arrangement

2021 ◽  
Author(s):  
Jennifer Payne
Keyword(s):  
Comparative Analysis ◽  
Financial Crisis ◽  
Financial Distress ◽  
2008 Financial Crisis ◽  
Debt Restructuring ◽  
The Future ◽  
Recent Developments ◽  
Flexible Mechanism ◽  
The 2008 Financial Crisis ◽  
Indispensable Tool

Schemes of arrangement are an important and flexible mechanism, which can be used to reorganise a company's capital. Schemes have undergone a renaissance over the last twenty years, particularly as a debt restructuring device in the aftermath of the 2008 financial crisis when companies and their advisors have needed to develop effective tools for dealing with financial distress. The COVID-19 pandemic has provided a further incentive for jurisdictions to ensure that they have an effective debt restructuring mechanism in place. Schemes have also become the mechanism of choice for recommended takeovers. This book performs a critical, contextual and comparative analysis of schemes and their uses, examines recent developments in this area, including the Corporate Insolvency and Governance Act 2020, and considers whether further reform is needed to ensure that schemes continue to develop as an indispensable tool for companies for the future.

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