Elder Financial Fraud: The Economic and Ethical Case for Instituting Mandatory Reporting Laws in Financial Institutions
by Lauren Tse Abstract This study examines the effectiveness of the 2016 NASAA Model Act, specifically if states that implemented its provisions see greater levels of elder fraud reporting. This legal reform introduces reporting requirements for broker-dealers and investment advisers to report suspected elder fraud to government authorities, granting explicit immunity to those who comply. To […]
Financial Inclusion and Women’s Economic Empowerment in India
by Nehal Jain Abstract On August 14th, 2014 India’s Prime Minister Narendra Modi implemented the largest ever financial inclusion scheme to date known as Pradhan Mantri Jan Dhan Yojana (PMJDY). The program aimed to bank all of India’s unbanked population. Prior to the program, India had one of the highest rates of unbanked citizens. The […]
The Hidden Costs of Central Bank Borrowing
By Shane Hunt This paper explores a previously overlooked unintended consequence of a private bank accepting Central Bank loans as a lender of last resort. Applying the basic Markowitz Security Model, I explore the potential effect of a private bank accepting a Central Bank loan as a signal of increased risk of investment in that […]
Taming the Dragon: The Modernization of the Chinese Equity Markets and its Effects on IPO Underpricing
By William Benesh The extreme underpricing of Chinese Initial Public Offerings in the early days of the Chinese equity markets was reduced by several reforms instituted by the Chinese government from around 2000 to 2002. These reforms reduced 1-day returns on IPOs from 295% to 72%. The reforms reduced IPO underpricing by decreasing the inequality […]
