Crashes, Bailouts, Regulations
With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems...
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| Format: | Brief |
| Language: | English |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2009/03/10333897/crashes-bailouts-regulations http://hdl.handle.net/10986/11124 |
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okr-10986-11124 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ADVISORY GROUP ARBITRAGE ASSET PRICES AUDITS BAILOUTS BANK FOR INTERNATIONAL SETTLEMENTS BANKRUPTCY BASIS POINTS BOND BORROWER BROKERS BUSINESS SCHOOL BUSINESS SCHOOLS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CASH MARKET CDS CENTRAL BANK CENTRAL BANKS COLLATERAL CONFLICTS OF INTEREST CORPORATE GOVERNANCE CORPORATE PERFORMANCE CREDIBILITY CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT DERIVATIVE CREDIT DERIVATIVES CREDIT RISK CURRENCY CURRENCY MARKET CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT DEBT MARKET DEBT OBLIGATIONS DEPOSITORS DERIVATIVE INSTRUMENTS DERIVATIVE MARKETS DERIVATIVE PRODUCTS DERIVATIVES DERIVATIVES MARKETS DEVELOPMENT BANK DISCLOSURE NORMS DISCLOSURE REQUIREMENT DISCLOSURE STANDARDS DUE DILIGENCE EARNINGS ECONOMIC EFFECTS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORM ECONOMIC REFORMS ECONOMICS EMERGING MARKETS EQUITY DERIVATIVES EQUITY MARKETS EQUITY PRICES EXCHANGE BOARD EXCHANGE RATE FAIR FAIR VALUE FEDERAL RESERVE FINANCE COMPANIES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATIONS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SHOCK FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN EXCHANGE FOREIGN EXCHANGE MANAGEMENT FOREIGN INSTITUTIONAL INVESTORS FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FRAUD FRAUDS FREE MARKET FUND MANAGERS FUTURES GLOBAL EQUITY GLOBAL EQUITY MARKETS GLOBAL FINANCIAL MARKETS GLOBAL MARKET GLOBAL MARKETS GOOD GOVERNANCE GOVERNANCE STANDARD GOVERNANCE STANDARDS GOVERNMENT POLICIES HEDGE FUNDS HOLDING HOUSING HOUSING MARKET INCOME INDIVIDUAL INVESTORS INFLATION INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURERS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL SECURITIES INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT BANKS INVESTMENT OPPORTUNITIES INVESTMENT RETURNS IRRATIONAL EXUBERANCE JURISDICTION LACK OF TRANSPARENCY LEGAL FRAMEWORK LEGAL OBLIGATIONS LEGAL SYSTEM LIQUIDITY LIQUIDITY CRISIS LOAN PORTFOLIO LOAN RECOVERY LOW-INCOME LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET DISCIPLINE MARKET EFFICIENCY MARKET REGULATION MARKET REGULATIONS MARKET REGULATOR MARKET REGULATORS MARKET STRUCTURE MARKET SUPERVISION MARKET VOLATILITY MICROCREDIT MINORITY SHAREHOLDERS MONETARY FUND MORAL IMPERATIVE MORTGAGE MORTGAGE-BACKED SECURITIES MUTUAL FUNDS NATIONAL STOCK EXCHANGE NEW INVESTORS NEW PRODUCTS OIL PRICES OUTSTANDING LOAN OWNERSHIPS PENSION PENSION FUND PENSION FUNDS PRIVATE EQUITY PRIVATE SECTOR BANKS PROSPERITY RAPID GROWTH REAL ESTATE RECESSION REFORM PROGRAMS REGULATORY BODY REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY SYSTEM RESERVE BANK RETURN RETURNS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SALES SAVERS SAVINGS SECURITIES SECURITIES MARKET SECURITIES MARKET REGULATIONS SECURITIES MARKETS SELF REGULATION SETTLEMENT SETTLEMENT SYSTEMS SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER ACTIVISM SPREAD STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK MARKET INDICES STOCK MARKETS STOCK PRICES STOCKS SUPPLIERS SUPPLIERS OF CREDIT SWAPS TAX TRADING TRADING FLOOR TRADING PLATFORM TRANSITION ECONOMIES TRUST FUND UNEMPLOYMENT VALUATION |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ADVISORY GROUP ARBITRAGE ASSET PRICES AUDITS BAILOUTS BANK FOR INTERNATIONAL SETTLEMENTS BANKRUPTCY BASIS POINTS BOND BORROWER BROKERS BUSINESS SCHOOL BUSINESS SCHOOLS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CASH MARKET CDS CENTRAL BANK CENTRAL BANKS COLLATERAL CONFLICTS OF INTEREST CORPORATE GOVERNANCE CORPORATE PERFORMANCE CREDIBILITY CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT DERIVATIVE CREDIT DERIVATIVES CREDIT RISK CURRENCY CURRENCY MARKET CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT DEBT MARKET DEBT OBLIGATIONS DEPOSITORS DERIVATIVE INSTRUMENTS DERIVATIVE MARKETS DERIVATIVE PRODUCTS DERIVATIVES DERIVATIVES MARKETS DEVELOPMENT BANK DISCLOSURE NORMS DISCLOSURE REQUIREMENT DISCLOSURE STANDARDS DUE DILIGENCE EARNINGS ECONOMIC EFFECTS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORM ECONOMIC REFORMS ECONOMICS EMERGING MARKETS EQUITY DERIVATIVES EQUITY MARKETS EQUITY PRICES EXCHANGE BOARD EXCHANGE RATE FAIR FAIR VALUE FEDERAL RESERVE FINANCE COMPANIES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATIONS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SHOCK FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN EXCHANGE FOREIGN EXCHANGE MANAGEMENT FOREIGN INSTITUTIONAL INVESTORS FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FRAUD FRAUDS FREE MARKET FUND MANAGERS FUTURES GLOBAL EQUITY GLOBAL EQUITY MARKETS GLOBAL FINANCIAL MARKETS GLOBAL MARKET GLOBAL MARKETS GOOD GOVERNANCE GOVERNANCE STANDARD GOVERNANCE STANDARDS GOVERNMENT POLICIES HEDGE FUNDS HOLDING HOUSING HOUSING MARKET INCOME INDIVIDUAL INVESTORS INFLATION INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURERS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL SECURITIES INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT BANKS INVESTMENT OPPORTUNITIES INVESTMENT RETURNS IRRATIONAL EXUBERANCE JURISDICTION LACK OF TRANSPARENCY LEGAL FRAMEWORK LEGAL OBLIGATIONS LEGAL SYSTEM LIQUIDITY LIQUIDITY CRISIS LOAN PORTFOLIO LOAN RECOVERY LOW-INCOME LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET DISCIPLINE MARKET EFFICIENCY MARKET REGULATION MARKET REGULATIONS MARKET REGULATOR MARKET REGULATORS MARKET STRUCTURE MARKET SUPERVISION MARKET VOLATILITY MICROCREDIT MINORITY SHAREHOLDERS MONETARY FUND MORAL IMPERATIVE MORTGAGE MORTGAGE-BACKED SECURITIES MUTUAL FUNDS NATIONAL STOCK EXCHANGE NEW INVESTORS NEW PRODUCTS OIL PRICES OUTSTANDING LOAN OWNERSHIPS PENSION PENSION FUND PENSION FUNDS PRIVATE EQUITY PRIVATE SECTOR BANKS PROSPERITY RAPID GROWTH REAL ESTATE RECESSION REFORM PROGRAMS REGULATORY BODY REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY SYSTEM RESERVE BANK RETURN RETURNS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SALES SAVERS SAVINGS SECURITIES SECURITIES MARKET SECURITIES MARKET REGULATIONS SECURITIES MARKETS SELF REGULATION SETTLEMENT SETTLEMENT SYSTEMS SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER ACTIVISM SPREAD STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK MARKET INDICES STOCK MARKETS STOCK PRICES STOCKS SUPPLIERS SUPPLIERS OF CREDIT SWAPS TAX TRADING TRADING FLOOR TRADING PLATFORM TRANSITION ECONOMIES TRUST FUND UNEMPLOYMENT VALUATION World Bank Crashes, Bailouts, Regulations |
| relation |
Private Sector Opinion; No. 11 |
| description |
With the recent stock market frauds in
markets around the world such as the Madoff case in the U.S.
and the recent Satyam fraud in India, no nation can hold its
head high and claim to have good corporate governance. The
reality is that the problems of fraud, faulty audits,
misleading accounts, lack of transparency, conflicts of
interest, criminal destruction of records and a long list of
other corporate governance violations, are not limited to
emerging markets but are very much in evidence in developed
markets as well. Given recent events then, the importance of
sound corporate governance is becoming increasingly
apparent. International organizations like the Organization
for Economic Co-operation and Development (OECD), the World
Bank and the International Corporate Governance Network
(ICGN), along with major fund managers, are formulating sets
of codes and principles that can be applied globally. It is
also clear, however, that governments have generally done a
poor job of policing the complex world of finance and that
the greater part of the task will be left to self policing
on the part of the participants. There is no doubt about it:
sound corporate governance pays. Several studies undertaken
by various organizations have shown that: there is a direct
relationship between good corporate governance and
investment returns. The oversight that comes from
transparency and accountability creates a structure where
the managers are discouraged from mismanaging the company,
be it though a lack of diligence or care, improper
decision-making, or even intentioned unconscionable behavior. |
| format |
Publications & Research :: Brief |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Crashes, Bailouts, Regulations |
| title_short |
Crashes, Bailouts, Regulations |
| title_full |
Crashes, Bailouts, Regulations |
| title_fullStr |
Crashes, Bailouts, Regulations |
| title_full_unstemmed |
Crashes, Bailouts, Regulations |
| title_sort |
crashes, bailouts, regulations |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2009/03/10333897/crashes-bailouts-regulations http://hdl.handle.net/10986/11124 |
| _version_ |
1764415611955314688 |
| spelling |
okr-10986-111242021-04-23T14:02:54Z Crashes, Bailouts, Regulations World Bank ACCOUNTING ACCOUNTING STANDARDS ADVISORY GROUP ARBITRAGE ASSET PRICES AUDITS BAILOUTS BANK FOR INTERNATIONAL SETTLEMENTS BANKRUPTCY BASIS POINTS BOND BORROWER BROKERS BUSINESS SCHOOL BUSINESS SCHOOLS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CASH MARKET CDS CENTRAL BANK CENTRAL BANKS COLLATERAL CONFLICTS OF INTEREST CORPORATE GOVERNANCE CORPORATE PERFORMANCE CREDIBILITY CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT DERIVATIVE CREDIT DERIVATIVES CREDIT RISK CURRENCY CURRENCY MARKET CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT DEBT MARKET DEBT OBLIGATIONS DEPOSITORS DERIVATIVE INSTRUMENTS DERIVATIVE MARKETS DERIVATIVE PRODUCTS DERIVATIVES DERIVATIVES MARKETS DEVELOPMENT BANK DISCLOSURE NORMS DISCLOSURE REQUIREMENT DISCLOSURE STANDARDS DUE DILIGENCE EARNINGS ECONOMIC EFFECTS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORM ECONOMIC REFORMS ECONOMICS EMERGING MARKETS EQUITY DERIVATIVES EQUITY MARKETS EQUITY PRICES EXCHANGE BOARD EXCHANGE RATE FAIR FAIR VALUE FEDERAL RESERVE FINANCE COMPANIES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL REFORMS FINANCIAL REGULATION FINANCIAL REGULATIONS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SHOCK FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN EXCHANGE FOREIGN EXCHANGE MANAGEMENT FOREIGN INSTITUTIONAL INVESTORS FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FRAUD FRAUDS FREE MARKET FUND MANAGERS FUTURES GLOBAL EQUITY GLOBAL EQUITY MARKETS GLOBAL FINANCIAL MARKETS GLOBAL MARKET GLOBAL MARKETS GOOD GOVERNANCE GOVERNANCE STANDARD GOVERNANCE STANDARDS GOVERNMENT POLICIES HEDGE FUNDS HOLDING HOUSING HOUSING MARKET INCOME INDIVIDUAL INVESTORS INFLATION INSTITUTIONAL INVESTMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURERS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL SECURITIES INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT BANKS INVESTMENT OPPORTUNITIES INVESTMENT RETURNS IRRATIONAL EXUBERANCE JURISDICTION LACK OF TRANSPARENCY LEGAL FRAMEWORK LEGAL OBLIGATIONS LEGAL SYSTEM LIQUIDITY LIQUIDITY CRISIS LOAN PORTFOLIO LOAN RECOVERY LOW-INCOME LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET DISCIPLINE MARKET EFFICIENCY MARKET REGULATION MARKET REGULATIONS MARKET REGULATOR MARKET REGULATORS MARKET STRUCTURE MARKET SUPERVISION MARKET VOLATILITY MICROCREDIT MINORITY SHAREHOLDERS MONETARY FUND MORAL IMPERATIVE MORTGAGE MORTGAGE-BACKED SECURITIES MUTUAL FUNDS NATIONAL STOCK EXCHANGE NEW INVESTORS NEW PRODUCTS OIL PRICES OUTSTANDING LOAN OWNERSHIPS PENSION PENSION FUND PENSION FUNDS PRIVATE EQUITY PRIVATE SECTOR BANKS PROSPERITY RAPID GROWTH REAL ESTATE RECESSION REFORM PROGRAMS REGULATORY BODY REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY SYSTEM RESERVE BANK RETURN RETURNS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SALES SAVERS SAVINGS SECURITIES SECURITIES MARKET SECURITIES MARKET REGULATIONS SECURITIES MARKETS SELF REGULATION SETTLEMENT SETTLEMENT SYSTEMS SHARE PRICE SHARE PRICES SHAREHOLDER SHAREHOLDER ACTIVISM SPREAD STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKET INDEX STOCK MARKET INDICES STOCK MARKETS STOCK PRICES STOCKS SUPPLIERS SUPPLIERS OF CREDIT SWAPS TAX TRADING TRADING FLOOR TRADING PLATFORM TRANSITION ECONOMIES TRUST FUND UNEMPLOYMENT VALUATION With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts, lack of transparency, conflicts of interest, criminal destruction of records and a long list of other corporate governance violations, are not limited to emerging markets but are very much in evidence in developed markets as well. Given recent events then, the importance of sound corporate governance is becoming increasingly apparent. International organizations like the Organization for Economic Co-operation and Development (OECD), the World Bank and the International Corporate Governance Network (ICGN), along with major fund managers, are formulating sets of codes and principles that can be applied globally. It is also clear, however, that governments have generally done a poor job of policing the complex world of finance and that the greater part of the task will be left to self policing on the part of the participants. There is no doubt about it: sound corporate governance pays. Several studies undertaken by various organizations have shown that: there is a direct relationship between good corporate governance and investment returns. The oversight that comes from transparency and accountability creates a structure where the managers are discouraged from mismanaging the company, be it though a lack of diligence or care, improper decision-making, or even intentioned unconscionable behavior. 2012-08-13T14:13:00Z 2012-08-13T14:13:00Z 2009-03 http://documents.worldbank.org/curated/en/2009/03/10333897/crashes-bailouts-regulations http://hdl.handle.net/10986/11124 English Private Sector Opinion; No. 11 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Washington, DC Publications & Research :: Brief Publications & Research |