Market discipline across countries and industries

書誌事項

Market discipline across countries and industries

edited by Claudio Borio ... [et al.]

MIT Press, c2004

タイトル別名

Healing with destabilizing "market discipline"

大学図書館所蔵 件 / 23

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注記

Papers presented at a conference cosponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements, held on Oct. 30 to Nov. 1, 2003, at the Federal Reserve Bank of Chicago

Includes bibliographical references and index

収録内容

  • Market discipline and public policy : the role of the IMF / Anne O. Krueger
  • Three observations on market discipline / Malcolm Knight
  • Effective market discipline : the roles of auditors, companies, and analysts / Susan Schmidt Bies
  • A review of the New Basel Capital Accord / Jaime Caruana
  • Market discipline : players, processes, and purposes / Robert R. Bliss
  • Market discipline in banking : where do we stand? / Jean-Charles Rochet
  • Market discipline for financial institutions and sovereigns / Hal S. Scott
  • Comments on the theory of market discipline / Kostas Tsatsaronis
  • Market discipline of U.S. Financial firms : recent evidence and research issues / Mark J. Flannery and Stanislava Nikolova
  • Bank market discipline and indicators of banking system risk : the European evidence / Reint Gropp
  • Weakening market and regulatory discipline in the Japanese financial system / Mitsuhiro Fukao
  • Market discipline in emerging economies : beyond bank fundamentals / Eduardo Levy-Yeyati, Maria Soledad Martinez Peria, and Sergio L. Schmukler
  • Inside the "black box" of market discipline / David T. Llewellyn
  • Market discipline in insurance and reinsurance / Scott E. Harrington
  • Conflicts of interest and market discipline / Ingo Walter
  • Market discipline and corporate control / Clifford W. Smith, Jr.
  • Capital controls : mud in the wheels of market discipline / Kristin J. Forbes
  • Equity integration in times of crisis / Robert P. Flood and Andrew K. Rose
  • Assessing the evidence on market discipline for countries / Andrew G. Haldane
  • U.S. corporate governance : what went wrong and can it be fixed? / Franklin R. Edwards
  • Corporate governance in Europe : competition versus harmonization / Marco Becht and Colin Mayer
  • Evolving corporate governance in Japan / Hugh Patrick
  • Quis custodiet ipsos custodes? controlling conflicts of interest in the financial industry? / Eugene N. White
  • The role and limitations of financial accounting and auditing for market discipline / George J. Benston
  • Fair values and financial statement volatility / Mary E. Barth
  • Enron and effective corporate governance / Charles M. Elson
  • Interaction of market discipline and public policy : discussion / Shyam Sunder
  • Can the unsophisticated market provide discipline? / Gerard Caprio and Patrick Honohan
  • How can the invisible hand strengthen prudential supervision? and how can prudential supervision strengthen the invisible hand? / Richard J. Herring
  • Healing with destabilizing 'market discipline' / Daniel Cohen and Richard Portes
  • Comments on market discipline and public policy / Charles Freedman
  • Reestablishing market discipline as part of bank regulation / Charles W. Calomiris
  • Comment on policy / Christine M. Cumming
  • Market discipline -- interaction with public policy / Patricia Jackson

内容説明・目次

内容説明

Leading academics and policymakers address the theory of market discipline and consider evidence across different industries and countries. The effectiveness of market discipline -- the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently -- commands much attention today, particularly in light of recent accounting scandals. As government discipline, in the form of regulation, seems to grows less effective as the banking industry and financial markets grow more complex, the role of market discipline becomes increasingly important. In this collection, which grew out of a conference cosponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements in Basel, Switzerland, a diverse group of academics and policymakers address different aspects of the ability of market discipline to affect corporate behavior and performance. A major purpose of the book is to develop evidence on how market discipline operates across non-government regulated industries and in different countries, how successful it has been, and how it may transfer to a regulated industry. The chapters examine such topics as the theory of market discipline, evidence of market discipline in banking and other industries, evidence of market discipline for countries, the current state of corporate governance, and the interaction of market discipline and public policy.

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