Governance In The Absence Of Regulation
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Governance In The Absence Of Regulation
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Author : William C. Johnson
language : en
Publisher:
Release Date : 2019
Governance In The Absence Of Regulation written by William C. Johnson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
We examine whether the market for ICOs can alleviate asymmetric information and incentive problems through self-imposed governance mechanisms despite the limited regulation in this market. We propose what we call the substitution hypothesis which states that market forces incentivize ICO issuers to voluntarily adopt governance mechanisms which effectively bind their behavior as a substitute for regulatory involvement. The substitution hypothesis also predicts that these voluntarily adopted governance mechanisms lead to lower underpricing, better ex-post performance, higher ICO success and more efficient price discovery in the secondary market. We find comprehensive empirical support for the substitution hypothesis. Our results suggest that these governance mechanisms help to make ICOs a viable and innovative method of financing.
Corporate Governance Regulation
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Author : Nicholas V. Vakkur
language : en
Publisher: John Wiley & Sons
Release Date : 2013-01-10
Corporate Governance Regulation written by Nicholas V. Vakkur and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-10 with Business & Economics categories.
Why U.S. corporate governance regulation has lost its way, and what must be done to improve it Modern history persuasively demonstrates the inexorable link that binds comprehensive regulation to the global economy. This important book, rather than simply recount a litany of corporate governance failures, persuasively explains why, despite policymakers' best intentions, regulation has failed in the modern era. An objective study intended for a diverse readership, Corporate Governance Regulation unveils the underlying, root causes of regulatory failure. The result: A compelling and original analysis, broadly suited for a global audience of all backgrounds. Written by published, subject-area experts, the authors carefully delineate how U.S. corporate governance regulation, beginning with Sarbanes Oxley, lacks an adequate rational basis, as may be attributed to a non-existent policy dialogue The witnessed result: A conspicuous lack of regulatory efficacy, enormous costs, coupled with paltry benefits The focus is upon reigniting a stalled, non-productive policy dialogue, by eschewing stale, overly-polemicized arguments, as needed to develop a common ground Drawing from an eclectic, analytic framework, governance experts Nicholas Vakkur and Zulma Herrera offer both the professional and global citizen alike a multi-dimensional understanding of issues critical to global economic health. Nuanced and persuasively argued, Corporate Governance Regulation represents a formidable catalyst in the elusive, ongoing quest for global economic stability.
Creating Order In The Absence Of Formal Regulations And Law
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Author : Damian Tobin
language : en
Publisher:
Release Date : 2017
Creating Order In The Absence Of Formal Regulations And Law written by Damian Tobin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
The legal and political explanations that underpin the contemporary literature on corporate governance have focused how the prevailing political or legal system determines how large corporations are governed. They imply that in order to facilitate good corporate practices, emerging economies should converge towards governance systems that offer strong legal protection for investors. Distinguishing itself from this approach, this paper adopts a historical account of the major political economy factors that either impeded or facilitated the evolution of the Anglo American Joint Stock Company (JSC). This illustrates how the JSC did note merge by blueprint or design as is implied in the literature. It also describes the implicit costs associated with the JSC including political rent seeking, the expropriation of small investors, market crises and monopolies. Under these circumstances legal and political developments often enhanced corporate power at the expense of the public interest. This account suggests that the JSC is better viewed as an adaptive and innovative organisational form that has thrived in the absence of formal regulations and law, rather than as a nexus of contracts arising from market failure. The evolution of the JSC and its corporate governance structures are therefore best understood within a political economy framework that accounts for market developments, political and legal interventions and the rise of the regulatory state. For developing economies the main lesson is not that they should replicate either the US or UK, but rather they can draw on the factors that allowed both countries to lessen the costs of mobilising finance, and adapt them to suit local market structures.
Governance Without Government
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Author : James N. Rosenau
language : en
Publisher: Cambridge University Press
Release Date : 1992-03-26
Governance Without Government written by James N. Rosenau and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-03-26 with Law categories.
A world government capable of controlling nation-states has never evolved, but governance does underlie order among states and gives direction to problems arising from global interdependence. This book examines the ideological bases and behavioural patterns of this governance without government.
Governing The Healthcare Market
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Author : Hongwen Zhao
language : en
Publisher:
Release Date : 2005
Governing The Healthcare Market written by Hongwen Zhao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Health care reform categories.
Without an effective state health financing tool, nor mature market institutions, China is not able to use neither performance-based regulation nor technology-based regulation. China has adopted a management-based regulatory strategy but the absence of effective governance structure hinders effective regulation. If the reform objectives of improving healthcare quality while costs are to be attained, China will need to develop purchasing tools to alter the current perverse incentives for provider behavior. Government will also need to work with civil society organizations to develop tools for clinical governance, such as clinical audit for risk management and hospital accreditation programs. To do so requires establishing arms-length governance mechanisms between health departments and hospitals, and appropriate corporate governance structures within hospitals. Specifically, MOH needs to establish a technical policy think tank to investigate all the policy issues arising from the announcement of the 1997 health reform, including coordination with other line ministries and provincial authorities, and formulation and implementation of a policy research agenda, in order to attain a market-based governance system for health by 2010.
Achieving Regulatory Excellence
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Author : Cary Coglianese
language : en
Publisher: Brookings Institution Press
Release Date : 2016-12-20
Achieving Regulatory Excellence written by Cary Coglianese and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-20 with Political Science categories.
Whether striving to protect citizens from financial risks, climate change, inadequate health care, or the uncertainties of the emerging “sharing” economy, regulators must routinely make difficult judgment calls in an effort to meet the conflicting demands that society places on them. Operating within a political climate of competing demands, regulators need a lodestar to help them define and evaluate success. Achieving Regulatory Excellence provides that direction by offering new insights from law, public administration, political science, sociology, and policy sciences on what regulators need to do to improve their performance. Achieving Regulatory Excellence offers guidance from leading international experts about how regulators can set appropriate priorities and make sound, evidence-based decisions through processes that are transparent and participatory. With increasing demands for smarter but leaner government, the need for sound regulatory capacity—for regulatory excellence—has never been stronger.
The Theory Of Competitive Price
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Author : George Joseph Stigler
language : en
Publisher:
Release Date : 1946
The Theory Of Competitive Price written by George Joseph Stigler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1946 with Competition categories.
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-05-06
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-06 with categories.
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Global Business Regulation
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Author : John Braithwaite
language : en
Publisher: Cambridge University Press
Release Date : 2000-02-13
Global Business Regulation written by John Braithwaite and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-02-13 with Business & Economics categories.
How has the regulation of business shifted from national to global institutions? What are the mechanisms of globalization? Who are the key actors? What of democratic sovereignty? In which cases has globalization been successfully resisted? These questions are confronted across an amazing sweep of the critical areas of business regulation--from contract, intellectual property and corporations law, to trade, telecommunications, labor standards, drugs, food, transport and environment. This book examines the role played by global institutions such as the World Trade Organization, World Health Organization, the OECD, IMF, Moodys and the World Bank, as well as various NGOs and significant individuals. Incorporating both history and analysis, Global Business Regulation will become the standard reference for readers in business, law, politics, and international relations.
The Politics Of Regulation
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Author : Jacint Jordana
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004-01-01
The Politics Of Regulation written by Jacint Jordana and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-01 with Political Science categories.
These changes, together with the general advance in the study of regulation, undoubtedly demand a re-evaluation of the theory of regulation, its methodologies and scope of application. This book is a perceptive investigation of recent evolutions in the manner and extent of governance through regulation. Scholars and students of comparative politics, public policy, regulation theory, institutional economics and political sociology will find it to be essential reading. It will also prove a valuable source of reference for those working or dealing with regulatory authorities and for business managers in private industries and services operating under a regulatory framework.