Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
106,527
result(s) for
"FINANCIAL GOVERNANCE"
Sort by:
“The Party Must Strengthen Its Leadership in Finance!”: Digital Technologies and Financial Governance in China's Fintech Development
This article examines the roles digital technologies have played in propelling the shifts in modes of financial governance which have been led by the Chinese Communist Party and enacted by a wide spectrum of regulative actors. Based on analyses of the laws, policies and regulations surrounding digital financial technologies, or so-called fintechs, as well as in-depth interviews with government officials and fintech business executives, I argue that the proliferation of fintechs challenged the existing regulatory schemes defined by the Central Bank and the State Council. This forced a reconsideration of the Chinese government's hegemonic strategies in governing the rapidly changing financial industries. While digital technologies have been promoted to accomplish the goals set by the Party for financial marketization and modernization, a set of institutions including regulatory, organizational and normative rules have been developed to strengthen the Party's control over the digitization of finance. This contradiction is pivotal to understanding the Party's financial policymaking in the digital age.
Journal Article
Club governance and the making of global financial rules
Who writes the rules of global finance? This article explains how the transnational financial policy community can influence the content of financial governance by organizing itself via a club model. This agent-centered explanation advances the concept of a club to highlight the mechanisms through which actors operate, the expertise and skills valued by this community and the way in which principles for what constitutes appropriate financial governance are derived. Evidence is provided by an investigation of the Group of Thirty, part-think tank, part-advocacy group, a hybrid organization whose members are active in both the official and private sectors. Club characteristics can be seen in the group's high profile and prestigious membership, which self-presents a strong sense of honor. The article highlights the club as a location for those traditionally understood as financial elites. It emphasizes the collective attributes of the club, such as reputational consistency of membership, but also the importance of a track record of policy work for the enduring relevance of club arrangements in agenda-setting, consensus building and establishing mechanisms for private influence in financial governance. The study draws on 80+ interviews with key stakeholders from the community, including group members, conducted between 1998 and 2010.
Journal Article
The governance of global wealth chains
This article offers a theoretical framework to explain how Global Wealth Chains (GWCs) are created, maintained, and governed. We draw upon different strands of literature, including scholarship in International Political Economy and Economic Geography on Global Value Chains, literature on finance and law in Institutional Economics, and work from Economic Sociology on network dynamics within markets. This scholarship assists us in highlighting three variables in how GWCs are articulated and change according to: (1) the complexity of transactions, (2) regulatory liability, and (3) innovation capacities among suppliers of products used in wealth chains. We then differentiate five types of GWC governance - Market, Modular, Relational, Captive, and Hierarchy - which range from simple 'off shelf' products shielded from regulators by advantageous international tax laws to highly complex and flexible innovative financial products produced by large financial institutions and corporations. This article highlights how GWCs intersect with value chains, and provides brief case examples of wealth chains and how they interact.
Journal Article
Fixing the game : how runaway expectations broke the economy, and how to get back to reality
Using the National Football League as his primary example, Martin illustrates that it is possible to take a much more thoughtful and effective approach than we now do to the intersection of the real and the expectations markets and to governance in general in the capital markets. Martin shows how we can act to end the destructive cycle of increasing volatility, decreasing investor returns, and ongoing bad behavior by executives.
Book
Limits to the BRICS' challenge: credit rating reform and institutional innovation in global finance
Although many scholars have analyzed the BRICS' creation of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA), less attention has been paid to other - less successful - BRICS efforts to challenge the dominant global financial order through institutional innovation. This paper examines the case of BRICS' discussions to create their own credit rating agency (CrRA) which began in 2012 around the same time as the initiatives to establish the NDB and CRA. These discussions have been driven by discontent with US-based CrRAs which act as key authorities in global finance, but BRICS institutional innovation has been slower to emerge than in the NDB and CRA cases because the BRICS have shared less of a common social purpose on this issue. Even if a BRICS CrRA was created, this institution would be very unlikely to challenge the dominant order any time soon because of the enduring structural power of US and its CrRAs in this sector. The case shows how a wider case selection than the NDB and CRA reveals that the BRICS' capacity to transform the global financial order through collective institutional innovation is dependent on specific conditions: the strength of their common social purpose and the degree of the structural power of established authorities.
Journal Article
Optimation Principles of Good Financial Governance to Increase Financial Sustainability
Studies on good governance related to financial sustainability are still limited. This study analyzes the relationship between five principles ofgood financial governanceand financial sustainability. The five principles, namely Transparency, Accountability, Responsibility, Independence, and Fairness, each is tested for its effect on Financial Sustainability. Additionally, this research examines the moderating effect of Information Technology (IT) Capability. The object of this research is private universities in Indonesia which are surveyed through closed questionnaires and they were represented by their financial management leaders. Data from 627 private universities from 13 provinces in Indonesia were analyzed using structural equation modeling (SEM). The results of data analysis showed a significant positive effect of transparency (β=0.238), accountability (β=0.142), and responsibility (β=0255) on financial sustainability, while independency and fairness were found to have no significant effect. The results of the moderation test do not entirely support the hypothesis. The study results complement the study of the influence of good governance on financial sustainability as this study examines the effect of each principles of good governance on financial management. The practical implication for private universities is to improve financial sustainability they should improve good financial governance particulary on the aspects of transparency, accountability, and responsibility.
Journal Article