ownership and family management are negatively related to both offer price and market price premium, which is consistent with the suggestion that the lack of separation of ownership and management causes family-controlled firms to suffer from cloudy financial vision, resulting in a negative relationship with pricing. However, family chairman is positively associated with offer price premium which implies that underwriters view family leadership on the board as beneficial. The other family governance variables
Words: 4139 - Pages: 17
Introduction The banking industry has always been susceptible to economic fluctuations. The subprime mortgages crisis, that started to be felt in 2007 and is still going on, is not an exception. Although it had consequences all over the world, the main effects were seen in American financial markets, followed by the European ones. The top ten banks of the world also suffered the consequences; these can be seen in the changes occurred among these leading institutions in terms of market capitalization
Words: 2691 - Pages: 11
Brookings Institution, and the International Research Conference on Corporate Governance in Emerging Market Economies for helpful comments, and John Klopfer for able editorial assistance. We also thank the KDI School of Public Policy and Management for financial support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed
Words: 22756 - Pages: 92
that resulted in the Asian financial crisis and critically analyse the changes that came about as a result of this crisis. The factors are: • Sustaining a fixed exchange rate when it was no longer suitable, • Allowing too many short-term capital flows to accumulate with a high degree of currency speculation, • Lacking a sufficient risk management system at the national level as well as regional level. Changes that came about as a result of the crisis was that the governments
Words: 780 - Pages: 4
technology brand. Financial Strategy: During the Asian financial crisis of the late 1990’s when other Korean chaebols collapsed beneath a mountain of debt. Samsung, cut costs and reemphasized product quality and manufacturing flexibility, which allowed consumers electronics to go from a project phase to store shelves within six months. This was a financial strategy that Samsung’s company used in order to perform well during the crisis. Innovation: during the same crisis, the company invested
Words: 700 - Pages: 3
EC312 International Economics Assessment (Q1) Student ID: 0926451 Word Count: 1, 498 The 2008 and subsequent global economic downturns were rooted in lax monetary policies and lack of financial oversight, leading to an aftermath of widening global imbalances, global liquidity abundance and downward pressures on real world interest rates. These resulted from mercantilist trade policies and an unprecedented increase in savings and foreign reserves of emerging economies in Asia. This essay will
Words: 2362 - Pages: 10
finance, “fire sale” has been adopted to describe the distressed sales of assets at prices well below their true value. This deviation of asset price is a key amplifier during financial crisis and often acts as a contagion, spreading illiquidity problems to firms in similar industries (Caballero 2009). In the 2008 crisis, large losses for a bank would force this bank to sell assets at distressed prices. This process would force other banks to re-value the same assets at a lower price and would cause
Words: 3621 - Pages: 15
Background Financial institutions are great motivator in ensuring money navigation to the needy from the person who have plethora of that, especially for the countries of the third world alike the developed nations (Harker & Zenios, 2008). In developing economy and overall money system their contributions are of no denying. Financial institutions in the Asia pacific region are doing exactly the same. Financial institutions like large retail banks (e.g. Barclays, Citi NA), segmented financial institutions
Words: 1691 - Pages: 7
challenging than introducing it. Srinivasa Madhur (2002) indicate that ASEAN will encounter a number of limitations on the implementing of a single currency: the huge gap between the income level, insufficient of political policy and the weaknesses of financial sectors. First, there is a significant differences between the levels of economic development within the ASEAN countries. For instance, the per capita income of the worthiest country among the region, Singapore is 300 times contrast to the Myanmar
Words: 445 - Pages: 2
of Singapore, is a Southeast Asian island city. Singapore was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963 but separated two years later and became independent. Though physically small, Singapore is an economic giant. Singapore has been Southeast Asia's most modern city for over a century. Singapore has a highly developed and successful free-market economy. Since independence, Singapore is the world's fourth leading financial centre, and its port is one of
Words: 1063 - Pages: 5
