China’s meteoric rise as a global economic powerhouse has thrown its financial market regulations into sharp focus. In particular, the country’s antitakeover laws have been the subject of intense scrutiny. My recent paper examines these laws and the issues surrounding them, highlighting their shortcomings and underscoring the pressing need for reforms. Furthermore, it provides comprehensive… Read More »
Recent years have seen a growing divergence in how central banks approach climate change. For instance, while Jerome Powell, Chairman of the Federal Reserve System, underscores that the Fed doesn’t view itself as a “climate policymaker,” the Bank of England and the European Central Bank have been more proactive, advocating for an economy-wide transition to… Read More »
Corporate bonds are a significant source of funding for US firms. In fact, between 2000 and 2022, US firms issued almost six times more in non-convertible bonds than they did in equity. A common feature in these bonds allows issuers to repurchase them before their due date at a set price – this is known… Read More »
The harmonization of reporting standards has come a long way since the mandatory adoption of International Financial Reporting Standards (IFRS) for public firms in the European Union (EU) and other countries in 2005. In our recent paper, we focus on private firms and examine whether an increase in accounting comparability of local financial reporting practices… Read More »
Climate change is undeniably a significant and looming threat, impacting both the global environment and the stability of our economies and financial sector. There is an immediate and pressing need to comprehensively assess and effectively manage this multifaceted risk. Recently, we’ve seen a proactive response from regulatory bodies and standard-setting organizations worldwide, as they’ve taken… Read More »
Climate change is undeniably one of the most pressing challenges of our era. The scientific consensus regarding the urgency of addressing climate change has spurred international efforts to combat its effects. Central to this endeavor is the Paris Agreement, a historic international climate accord signed by 196 countries in 2015. This agreement aims to mitigate… Read More »
On July 9, 2020, a criminal complaint was filed against Joshua Thomas Argires, a Houston business owner, for submitting materially false loan applications to obtain and misuse funds from the Paycheck Protection Program (PPP). Around May 2020, Mr. Argires opened an account in the name of Texas Barbecue at Coinbase and began trading crypto, ultimately… Read More »
Increasingly, sustainability standards are recognized as important tools for helping companies navigate the complex sustainability landscape. These standards help companies tackle their social and environmental challenges and serve as credible signals to stakeholders that they are doing the right thing, thus creating potential opportunities for the market to reward these companies. But what really… Read More »
Crypto assets exhibit considerable design and value proposition differences, ranging from inflation protection to facilitating more streamlined payments, ensuring censorship-resistant computing, and safeguarding property rights. Nevertheless, their prices often exhibit similar cyclical patterns. Surge periods with substantial returns have lured both retail and institutional investors. Meanwhile, the subsequent market downturns have garnered growing scrutiny from… Read More »
Text-based artificial intelligence (AI) tools such as GPT-4 enable tech-savvy laypeople to conduct tasks in complex domains with little prior experience. The financial sector, dealing with vast amounts of data daily, is among the industries most eagerly working on AI solutions. For example, Morgan Stanley’s asset management division was one of GPT-4’s first customers and… Read More »
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