The financial crisis : issues in business, finance and global economics / Barbara L. Campos and Janet P. Wilkins, editors.

Format:

Book

Contributor:

Campos, Barbara L.

Wilkins, Janet P.

Series:

Business economics in a rapidly-changing world series.

Business economics in a rapidly-changing world

Language:

English

Subjects (All):

Financial crises--History--21st century.

Financial crises.

International finance--History--21st century.

International finance.

Globalization--History--21st century.

Globalization.

Physical Description:

1 online resource (194 p.)

Edition:

1st ed.

Place of Publication:

Hauppauge, N.Y. : Nova Science Publisher, c2011.

Language Note:

English

Summary:

Examines the financial crisis and the effect it has had in the global business, finance and economic sectors. This book includes the causes of the financial crisis; the elements needed for the management of a business corporation crisis; global operations management; an analysis of the public debt; and more.

Contents:

Intro

THE FINANCIAL CRISIS: ISSUES IN BUSINESS, FINANCE AND GLOBAL ECONOMICS

CONTENTS

PREFACE

CAUSES OF THE FINANCIAL CRISIS

SUMMARY

INTRODUCTION

GREED WITHOUT TRUST: FINANCIAL CRISIS AND THE BREAK-DOWN IN SPONTANEOUS ORDER

ABSTRACT

GREED AND TRUST

THE DISSIPATION OF TRUST AND THE BREAK-DOWN IN SPONTANEOUS ORDER

REFERENCES

ELEMENTS FOR AN EFFECTIVE MANAGEMENT OF A BUSINESS CORPORATION CRISIS SITUATION

1. INTRODUCTION

2. THE DEFINITION OF A CRISIS

3. TYPES OF CRISES

4. CRISIS MANAGEMENT

5. CRISIS MANAGEMENT PRINCIPLES

1. Understand Media Interest in a Crisis Situation and How They are Going to Handle It

2. Define the Problem That Cause the Crisis Situation and Determine the Best Strategy to Follow in Order to Reduce to the Minimum the Negative Impact in the Business Corporation Activities

3. Ensure Compliance with All Legal and Regulatory Matters Established by the Competent Government Authorities

4. Manage the Flow of Information Associated with the Crisis

5. Assume That the Worst Scenario Will Appears and That the Situation Will Escalate and Get Worse Before It Get Better

6. Remember All Constituencies When Dealing with a Crisis Situation

7. Measure Results Achieve in Managing the Crisis in Real Time

8. Identify the Facts That Need to Be Measured

9. Avoid Looking or Sounding too Defensive and Resist Being Drawn into a Situation That Could Weakness the Position of the Business Corporation during the Crisis Situation

10. Speedy Communication Is Essential, Especially with the Media and the Public

6. ASSEMBLE A CRISIS MANAGEMENT TEAM

7. CRISIS MANAGEMENT TEAM OPERATIONAL PRINCIPLES

8. THE TEN MOST COMMON MISTAKES MADE IN A CRISIS SITUATION.

9. CRISIS MANAGEMENT PLAN

9.1. Common Weaknesses in Crisis Management Planning

9.2. Crisis Communication Plan

9.2.1. The Spoken Word

9.2.2. Written Communications

9.2.3. Visual Images

9.2.4. Mixed Methods

9.2.5. Internet and Intranet

10. PHASES OF A CRISIS MANAGEMENT

10.1. Pre-crisis Phase

10.1.1. Prevention and Preparation

10.2. Crisis-Response

10.2.1. Detection

10.2.2. Mitigation

11. POST-CRISIS PHASE

11.1. Business Recovery Plan

12. RISK MANAGEMENT

13. ACTORS INVOLVED IN A CRISIS MANAGEMENT SITUATION

13.1. Government and Other Official Crisis Management Organizations

13.2. Non-governmental Organizations

13.3. Business Corporation

14. OTHER ELEMENTS THAT CHARACTERIZE A CRISIS SITUATION

14.1. Features of a Crisis

14.1.1. Someone Is to Blame

14.1.2. Something Is at Stake

14.1.3. Someone Finds Out

14.2. Usual Reaction

14.3. Handle the Crisis

14.3.1. Stop Whatever Is Causing the Problem

14.3.2. Put Out Holding Statement

14.3.3. Decide on Audiences

14.3.4. Decide What Will Be Said

15. A CASE TO BE STUDIED

CONCLUSION

ACKNOWLEDGMENT

A CONTRIBUTION TO THE POSITIVE THEORY OF THE PUBLIC DEBT

2. PUBLIC DEBT ISSUANCE AND RICARDIAN EQUIVALENCE

3. THE BASIC MODEL

3.1. Timing of the Game

3.2. Utility Functions and Budget Constraints

3.3. The Government

3.3.1. At Time t - 1

3.3.2. At time t

3.3.3. At time t + 1

3.4. EQUILIBRIUM

4. NUMERICAL SIMULATIONS

4.1. Main Findings

ACKNOWLEDGMENTS

APPENDIX

AN ANALYSIS OF THE DETERMINANTS OF CREDIT DEFAULT SWAP SPREAD CHANGES BEFORE AND DURING THE SUBPRIME FINANCIAL TURMOIL

Abstract

1.Introduction

2.A Review of the Literature on Credit Spreads

2.1.Main Determinants of Credit Spreads.

2.2.Empirical Studies

3.Merton Model

4.Methodology

4.1.Data Description

4.2.Empirical Models and Testing Methodology

5.Results

5.1.The Pre-Crisis Period

5.2.The Crisis Period

5.3.Further Analyses

Analysis by Leverage Quartiles

Analysis by Economic Sector

Analysis by Liquidity Change

6.Conclusion

References

INSOLVENCY OF SYSTEMICALLY SIGNIFICANT FINANCIAL COMPANIES: BANKRUPTCY VS. CONSERVATORSHIP/RECEIVERSHIP

COMPARISON OF DEPOSITORY INSTITUTIONS AND SYSTEMICALLY SIGNIFICANT FINANCIAL INSTITUTIONS

DIFFERENCES BETWEEN THE FDIC'S CONSERVATORSHIP/RECEIVERSHIP POWERS AND THE BANKRUPTCY CODE

Overall Objectives of Each Regime

Insolvency Initiation Authority and Timing

Oversight Structure and Appeal

Management, Shareholder, and Creditor Rights

FDIC "Superpowers," Including Contract Repudiation, versus Bankruptcy's Automatic Stay

Speed of Resolution

FINANCIAL MARKET INTERVENTION

CURRENT CONCERNS

What, if Anything, is Wrong with the Financial System?

When did Trouble in the Financial Markets Start?

What Caused Financial Market Turmoil?

If 97% of Mortgage Borrowers are not in Foreclosure, Why is the Financial Turmoil So Large?

Where are the Problem Loans Located?

Who is Affected by the Financial Turmoil?

How have Policymakers Responded to Financial Turmoil?

Why Have The Federal Reserve's Traditional Tools Not Restored Order In Financial Markets?

What is Contained in EESA, P.L. 110-343?

What has Treasury done under the EESA?

What Legislation is being Considered in the 111 Congress?

What is a Bad Bank?

THE DEBT LIMIT: HISTORY AND RECENT INCREASES

The Debt Limit and the Treasury

Why Have a Debt Limit?

A BRIEF HISTORY OF THE FEDERAL DEBT LIMIT

Origins of the Federal Debt Limit.

World War II and After

THE DEBT CEILING IN THE LAST DECADE

The Debt Limit Issue in 2002

Resolving the Debt Limit Issue in 2002

The Debt Limit Issue in 2003

The Debt Limit Issue in 2004

The Debt Limit Issue in 2005, 2006, and 2007

The Economic Slowdown and Federal Debt

Fiscal Policy Considerations

Raising the Debt Ceiling in 2008 and 2009

Revised Deficit Estimates

CONCLUDING COMMENTS

FURTHER READING

APPENDIX. DEBT SUBJECT TO LIMIT BY MONTH SINCE SEPTEMBER 2001

ECONOMIC STIMULUS: ISSUES AND POLICIES

THE CURRENT STATE OF THE ECONOMY

THE 2009 STIMULUS PACKAGE

Preliminary Discussions

House Proposal

Senate Proposal

The American Recovery and Reinvestment Act of 2009

Discussion

ISSUES SURROUNDING FISCAL STIMULUS

The Magnitude of a Stimulus

Bang for the Buck

Timeliness

Long-term Effects

Should Stimulus be Targeted?

Is Additional Fiscal Stimulus Needed?

Policies Previously Adopted

INTERVENTIONS FOR FINANCIAL FIRMS AND MARKETS

GLOBAL OPERATIONS MANAGEMENT

ARCHITECTURE OF CCPUL

Research Motivation and Goal

Problem Statement

Result and Contribution

Architecture of CCPUL

Architecture

INDEX.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record and CIP data provided by publisher.

ISBN:

1-62257-114-2

OCLC:

838123967