Just when we thought high-frequency trading couldn’t get any faster, a US communications company is developing a high-speed laser network between the New Jersey data centres of the New York Stock Exchange and the NASDAQ stock exchange, to shave an additional few nanoseconds off high-frequency trading times.
Sustainable growth requires a long-term focus
Pascal Lamy, Ian Goldin, 28 March 2014
Topics: Environment, Financial markets, Global crisis, International trade
Tags: climate change, corporate governance, environment, global crisis, growth, high-frequency trading, mark-to-market accounting, short-termism, trade
Say on pay in the UK: Modest effect, even after the crisis
Ian Gregory-Smith, Steve Thompson, Peter Wright, 24 March 2014
The extensive academic literature on the growth of executive compensation has tended to polarise around one of two positions: the rents-capture view and the optimal contracting approach. These analyses lead to very different positions on the value of a ‘say on pay’ policy:
Good corporate governance is bad for bank capitalisation
Deniz Anginer, Asli Demirgüç-Kunt, Harry Huizinga, Kebin Ma, 10 November 2013
A failing bank can be defined as one that has insufficient capital. Bank capitalisation strategies thus are crucial in determining the probability of a bank failure. Confirming this, Berger and Bouwman (2013) find that higher levels of pre-crisis capital increase a bank’s probability of survival during a banking crisis.
Stock market turnover and corporate governance
Alex Edmans, Vivian W Fang, Emanuel Zur, 16 February 2013
The stock market is a powerful tool for controlling corporation’s behaviour. But what is best:
Brain drain or brain gain? Evidence from corporate boards
Mariassunta Giannetti , Guanmin Liao, Xiaoyun Yu, 3 January 2013
Development economists have long warned about the costs for developing countries of the emigration of the best and brightest that decamp to universities and businesses in the developed world (Bhagwati 1976). This brain drain has attracted a considerable amount of economic research.
The impact of corporate governance in financial institutions
Hamid Mehran, Alan Morrison, Joel Shapiro, 6 April 2012
The US left behind: The rise of IPO activity around the world
Craig Doidge, George Andrew Karolyi, René M Stulz, 3 August 2011
Over the past two decades, there has been a dramatic change in initial public offering (IPO) activity around the world. In particular, IPO activity in the US has fallen compared to the rest of the world. Figure 1 shows the ratio of IPO proceeds to GDP for the both the US and for the world, as well as the difference between the two ratios.
The era of corporate split personalities
Nicolas Véron, 23 May 2011
The saga of securities-exchanges consolidation is a vivid illustration of links between companies and nations in a state of flux. The likes of the New York Stock Exchange (NYSE) are national icons of capitalism. But they are also technology-enabled networks that connect market participants and seek a global reach to maximise economies of scale, just like Facebook or eBay.
Do inefficient stock markets drive bad governance?
Fritz Foley, Sergey Chernenko, Robin Greenwood, 1 June 2010
One of the major accomplishments of recent corporate governance research has been to expose the risks confronted by minority shareholders in public companies around the globe. Corporate ownership structures such as pyramids, business groups, and dual class shares leave control in the hands of a limited set of blockholders – exposing minority investors to potential expropriation.
Bank dividends in the crisis: A failure of governance
Viral Acharya, Hyun Song Shin, Irvind Gujral, 31 March 2009
The accumulated losses in the current crisis (at $1.11 trillion since August 2007) have been very large, but so have the headline figures for the amount of new capital raised ($900 billion) as can be seen in Figure 1.
- Internationalisation, innovation, and productivity of firmsAltomonte, Aquilante, Békés, Ottaviano
- How rich nations benefit from EU membershipCampos, Coricelli, Moretti
- The ECB should do QE via forex interventionFrankel
- The chartbook of economic inequalityAtkinson, Morelli
- Predicting economic turning pointsAhir, Loungani
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Mulgan, 11 April 2014
Campos, Coricelli, Moretti
Ostry, Berg, Tsangarides
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom <