Financial Crises: Types, Causes and Consequences
Published on 26. October 2020
321 pages
978-1-5361-8630-7 (ISBN)
Description
While the world is witnessing a new wave of financial slowdown and great recession due to the coronavirus pandemic, the understanding of financial crises has not been complete. The contributors of this book look into financial crises from economic, legal, political science, social science lens with the aim of understanding the types, causes, consequences and impacts of financial crises in a comprehensive way. More importantly, the authors investigate regulatory responses, regulatory effectiveness, regulatory responses by applying a variety of approaches and methodologies through the study of financial, corporate, business, healthcare, capital market, banking sectors. This is a timely contribution to our understanding of financial crises and preparation for the next financial recession on the horizon.
More details
Other editions
Additional editions
Book
10/2020
Nova Science Publishers Inc
€303.55
Shipment within 15-20 days
Content
- Intro
- Contents
- Preface
- Chapter 1
- The (Im)morals of Financial Markets: A (Pre)cautionary Look Back to the Global Financial Crisis
- Abstract
- 1. Distilling Corporate Stock
- 2. Securitizing the Kitchen Sink
- 3. A Question of Legitimacy
- Epilogue
- References
- Chapter 2
- Causes and Costs of U.S. Financial Crisis: Moral Hazards and Recidivist Financial Institutions
- Abstract
- 1. Recidivism in U.S. Financial Institutions
- 1.1. Financial Institutions as Criminal Actors
- 1.2. The Recidivist Nature of the Actors
- 1.3. Incentives to Engage in Recidivism
- 1.3.1. The Moral Hazards of "Too Big To Fail"
- 1.3.2. Regulatory Factors
- 1.4. Financial Institutional Fraud as a Proximate Cause of Financial Crisis
- 2. Costs of Financial Crisis
- 2.1. Severe and Sustained Economic Costs
- 2.2. Questioning the System: Cynicism and Undermining U.S. Social Cohesion
- 2.3. Hegemonic Rivalry and Financial Stability
- Conclusion
- Chapter 3
- Complexity in Financial Crises
- Abstract
- Introduction
- Financial Systems: Increasingly Complex
- What Role Has Complexity Played in Triggering Financial Crises?
- Complexity Analysis and Financial Crises
- Conclusion
- References
- Chapter 4
- The 2008 Financial Crisis Revisited: Risks and Responses
- Abstract
- 1. Introduction
- 2. Major Risk Patterns
- 2.1. Growth Outrunning Capability
- 2.2. Complacency
- 2.3. "Normalization of Deviance"
- 2.4. "Stanton's Law"
- 2.5. The Ancient Curse: Regulated Firms May Get What They Seek
- 2.6. Strategic Risk
- 3. Successfully Navigating the Crisis
- 4. Enterprise Risk Management: A Tool for Organizational Self-Defense
- Conclusion
- References
- Government Documents
- Books
- Chapters, Journal Articles and Periodicals
- Other Sources
- Chapter 5
- Neo-Austrian Views of the Global Financial Crisis and Its Aftermath: A Non-Exhaustive Overview
- Abstract
- Introduction
- "Canonical" Austrian Business Cycle Theory and Its Mainstream Critics
- Extensions of Canonical ABCT to Explain GFC and Its Aftermath
- Complementary Applications of ABCT on the Subprime Crisis and Its Aftermath
- Neo-Austrian Deflationist Critique of Fed's Post-Crisis Management
- Questioning Deflationist Laissez Faire and Recent Neo-Austrian Responses
- Conclusion
- References
- Appendix
- Chapter 6
- The Transitional Dynamic of Finance Led Growth
- Abstract
- 1. Introduction
- 2. The Model
- 3. Data and Measurements
- Measuring
- Measuring
- Measuring
- Measuring
- Measuring
- 4. Examining the Model's Predictions
- 4.1. The Relationship between Research Efforts and TFP
- 4.2. The Transitional Dynamic
- 4.2.1. Does Excess Knowledge in the Financial Sector Explain Aggregate
- Productivity Growth?
- Conclusion
- Data Appendix
- Acknowledgment
- References
- Chapter 7
- Impact of Cognitive Abilities on Direct and Indirect Stock Market Participation before and after Crisis
- Abstract
- 1. Introduction
- 2. Literature Review
- 2.1. Cognitive Behaviour and Portfolio Choice
- 2.2. Effects of Global Financial Crisis on Banking Systems and Corporation
- 2.3. The Effect of the Crisis on Individual Investor's Behaviour
- 3. Methodology
- 4. Empirical Results
- 4.1. Descriptive Statistics and Correlation Matrix
- Conclusion
- References
- Chapter 8
- The Effect of Financial Crisis on the Relationship between Intellectual Capital and Financial Performance in the European Context
- Abstract
- Introduction
- Literature Review and Hypothesis Development
- Intellectual Capital Concepts
- Intellectual Capital, Financial Performance and Financial Crisis
- Data, Variables and Method
- Database
- Estimation Method and Variable Measurement
- Empirical Results
- Descriptive Statistics and Correlation Matrix
- Intellectual Capital, Financial Performance and Financial Crisis
- Discussion of the Empirical Results
- Conclusion
- References
- Chapter 9
- Theorizing Corporate Governance after the Financial Crisis: Towards Ethical and Relational Governance Theories
- Abstract
- Introduction
- Theorizing Corporate Governance After the Crisis
- From Compliance to Ethics
- New Corporate Governance Models
- Socially Responsible Investing
- Benefit Corporations
- Virtue Ethics in Corporate Governance
- Conclusion
- Ethics Training Programs
- References
- Chapter 10
- Internal Demarketing amongst Organisations Emerging from Financial Crises
- Abstract
- Introduction
- Internal Marketing
- Demarketing
- Internal Demarketing
- Revisiting Internal Demarketing through Fresh Data
- The Methodological Approach
- Case 1: Jack, the Retired Regional Sales Manager
- Case 2: Colin, the Former Civil Servant
- Key Findings
- Unintentional ID
- Ostensible IM
- Selective IM
- Selective ID
- Conclusion
- References
- Chapter 11
- Cross-Border Insolvency Law and Practice of Financial Institutions in the Aftermath of Global Financial Crisis
- Abstract
- Introduction
- Resolution of Financial Institutions
- Administrative Resolution
- Resolution vis-à-vis Insolvency
- Principles of Cross-Border Insolvency
- Modified Universalism
- MLCBI and EIR
- Cross-Border Insolvency of Financial Institutions
- The Status Quo
- U.S.
- EU
- China
- Issues to Be Addressed
- Choice of Model: Supranational Authority, Cooperation or Recognition?
- Jurisdiction: Shift from COMI/Establishment to Home/Host
- Balance of Local Interests: Public Policy Exceptions and Secondary Proceedings
- Public Policy Exceptions
- Secondary Proceedings
- Conclusion
- References
- Chapter 12
- The Impact of the Financial Crisis in Healthcare Sector: Lessons Learned from Six European Countries after the Crisis of 2007
- Abstract
- Introduction
- Greece
- Ireland
- Portugal
- Cyprus
- Italy and Spain
- Healthcare Systems Overview
- Aim
- Methods
- Design
- Eligibility Criteria
- Exclusion Criteria
- Search Strategy
- Results
- Literature Search
- Studies Results per Country
- Spain
- Greece
- Portugal
- Italy
- Ireland
- Cyprus
- Discussion
- Strengths and Limitations of the Study
- Conclusion
- References
- Chapter 13
- Shadow Banking Risks in China:
- Are They the Outcome of the Market or Regulations?
- Abstract
- Introduction
- 1. Systemic Risks Caused by Chinese Shadow Banks
- 1.1. Chinese Banking Liquidity Crisis of 2013
- 1.2. 2015 Stock Market Turbulence
- 2. Origins of the Chinese Shadow Banking System
- 2.1. An Overview of the Chinese Financial System
- 2.2. Dilemma for Local Governments
- 3. Chinese Practice: Players and Patterns
- 3.1. Shadow Banking Borrowers
- 3.1.1. Enterprises Subject to the Government Credit Policy Restriction
- 3.1.2. Local Government Financing Vehicles (LGFVs)
- 3.1.3. Hybrid Sector
- 3.2. Shadow Bank 'Deposits': Wealth Management Products
- 3.2.1. Banks' Wealth Management Products
- 3.2.2. Wealth Management Products Issued by Peer-to-Peer Lending Marketplaces
- 3.3. Asset Pool-Modelled Credit Intermediation
- 4. Regulatory Interplay: How Chinese Shadow Banks Evolved
- 4.1. General Regulatory Strategy on Shadow Banks
- 4.2. Regulatory Interplay and the Evolution of Bank Wealth Management Products
- Conclusion
- References
- Chapter 14
- The 2015 Stock Panic: Stoke Market, Finance and Regulation in China(
- Abstract
- 1. Introduction: The Case for Bull Market
- 2. The Bull Run
- 3. The Government Attitude toward the Bull Market
- 4. The Crash
- 5. The Government Response to the Crash
- Epilogue and Conclusion
- References
- Chapter 15
- Stock Market as a Solution for Illiquidity in the Aftermath of Financial Crisis - China's Securities Regulation and New Securities Law
- Abstract
- Introduction
- Before 2020: Paternity Securities Law
- IPO before 2020: From the Quota System to Approval/Verification System
- Information Disclosure Requirements before 2020
- The Changed Notion in 2020 Securities Law
- The Registration System: The IPO
- Enhanced Information Disclosure Requirements
- Stronger Investor Protection
- Conclusion
- References
- About the Editor
- Index
- Blank Page
- Blank Page
