Law and Financial Markets Review最新文献_第6页

Law and Financial Markets Review Pub Date : 2020-10-01 DOI: 10.1080/17521440.2020.1853983

J. Richter

引用次数: 0

The impact of data breaches on corporations and the status of potential regulation and litigation 数据泄露对企业的影响以及潜在的监管和诉讼状况

Law and Financial Markets Review Pub Date : 2020-10-01 DOI: 10.1080/17521440.2020.1833432

Tim Klaus, Brian Elzweig

引用次数: 0

Trade finance in Qatar: blockchain and economic diversification 卡塔尔的贸易融资:b区块链与经济多元化

Law and Financial Markets Review Pub Date : 2020-10-01 DOI: 10.1080/17521440.2020.1833431

A. Dahdal, J. Truby, H. Botosh

{"title":"Trade finance in Qatar: blockchain and economic diversification","authors":"A. Dahdal, J. Truby, H. Botosh","doi":"10.1080/17521440.2020.1833431","DOIUrl":"https://doi.org/10.1080/17521440.2020.1833431","url":null,"abstract":"Trade finance helps businesses deal with abnormal cash flows whilst managing counterparty risk and enhancing confidence in commercial transactions. It also allows parties to overcome trust barriers that may inhibit commercial activity in both a domestic and international commercial context. Globally, particularly among micro, small and medium enterprises (MSMEs), there exists a significant and widening unmet demand for documentary finance. Securing trade finance is laborious and time-consuming. For MSMEs, the trade finance application process alone, can be an insurmountable barrier that usually ends in rejection. By its nature, trade finance arrangements engage with decentralized stakeholders and diffused information sources across supply chains. Issuers and underwriters of trade finance instruments are required to draw on disparate elements of information, not merely during the application phase, but indeed throughout the life of a transaction. Blockchain technology is similarly decentralized and can capture information in a secure, transparent and immutable manner potentially improving and reinvigorating the trade finance space. As Qatar embarks on a strategy of widening its economic base away from a singular reliance on the hydrocarbon fuel sector, the introduction of blockchain technology holds the potential to overcome the transactional friction associated with trade finance. A more efficient and accessible trade finance sector will ultimately enhance the competitiveness of MSMEs whilst simultaneously fostering the growing FinTech sector in Qatar.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"14 1","pages":"223 - 236"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17521440.2020.1833431","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42650464","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

REMIT: ten years and counting REMIT：十年还在继续

Law and Financial Markets Review Pub Date : 2020-09-21 DOI: 10.1080/17521440.2020.1805870

L. Hiemstra

引用次数: 0

AFCA: the first foothill between Australia’s Twin Peaks AFCA:澳大利亚双峰之间的第一个山麓

Law and Financial Markets Review Pub Date : 2020-09-15 DOI: 10.1080/17521440.2020.1810906

A. Schmulow, Dore Virginia, Reardon Jacob, H. William

引用次数: 0

Will the COVID Pandemic Spark a Return in GFC-Type Financial Market Litigation? 新冠疫情是否会引发全球金融危机类型的金融市场诉讼?

Law and Financial Markets Review Pub Date : 2020-07-02 DOI: 10.1080/17521440.2020.1788264

J. Heller, Gene Phillips

引用次数: 1

Hail the new private debt machine: private equity, leveraged loans, and collateralised loan obligations 欢迎新的私人债务机器:私人股本、杠杆贷款和贷款抵押债券

Law and Financial Markets Review Pub Date : 2020-07-02 DOI: 10.1080/17521440.2020.1802547

Vincenzo Bavoso

{"title":"Hail the new private debt machine: private equity, leveraged loans, and collateralised loan obligations","authors":"Vincenzo Bavoso","doi":"10.1080/17521440.2020.1802547","DOIUrl":"https://doi.org/10.1080/17521440.2020.1802547","url":null,"abstract":"The Covid-19 pandemic and the subsequent worldwide economic slowdown have exposed the fragility of the financial sector, among others. This article argues that the seeds of this fragility, while being exposed by the pandemic, were sown earlier, in the post-2008 years, through the revived synergy of three elements of the financial system: private equity firms ascending the role of ultimate intermediaries in the system of private debt creation; leveraged loans becoming the new asset class that replaced what mortgages represented in the pre-2008 years; and collateralised loan obligations (CLOs) which in some ways replicated the function of CDOs as mechanisms of private debt creation. This article explains this phenomenon, analysing in particular how CLO structures morphed during the last decade and how this new transactional innovation facilitated a return to dangerous levels of leverage. As of 2019, the level of CLO issuance neared $120bn in the US, whereas in the EU they were close to Euro30bn. While the IMF warned at the end of 2019 about the dangers associated with the increasing levels of corporate leverage, confidence in the banking system was reiterated, largely due to the alleged safeness of CLOs, and particularly the capacity of these transactional structures to shift risks away from systemic banks. This article provides some clarity on these apparently contrasting statements, drawing inter alia some parallels with the crisis of 2008.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"72 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138513683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Hail the new private debt machine: private equity, leveraged loans, and collateralised loan obligations 欢迎新的私人债务机器:私人股本、杠杆贷款和贷款抵押债券

Law and Financial Markets Review Pub Date : 2020-07-02 DOI: 10.2139/ssrn.3656652

Vincenzo Bavoso

{"title":"Hail the new private debt machine: private equity, leveraged loans, and collateralised loan obligations","authors":"Vincenzo Bavoso","doi":"10.2139/ssrn.3656652","DOIUrl":"https://doi.org/10.2139/ssrn.3656652","url":null,"abstract":"The Covid-19 pandemic and the subsequent worldwide economic slowdown have exposed the fragility of the financial sector, among others. This article argues that the seeds of this fragility, while being exposed by the pandemic, were sown earlier, in the post-2008 years, through the revived synergy of three elements of the financial system: private equity firms ascending the role of ultimate intermediaries in the system of private debt creation; leveraged loans becoming the new asset class that replaced what mortgages represented in the pre-2008 years; and collateralised loan obligations (CLOs) which in some ways replicated the function of CDOs as mechanisms of private debt creation. This article explains this phenomenon, analysing in particular how CLO structures morphed during the last decade and how this new transactional innovation facilitated a return to dangerous levels of leverage. As of 2019, the level of CLO issuance neared $120bn in the US, whereas in the EU they were close to Euro30bn. While the IMF warned at the end of 2019 about the dangers associated with the increasing levels of corporate leverage, confidence in the banking system was reiterated, largely due to the alleged safeness of CLOs, and particularly the capacity of these transactional structures to shift risks away from systemic banks. This article provides some clarity on these apparently contrasting statements, drawing inter alia some parallels with the crisis of 2008.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"14 1","pages":"141 - 150"},"PeriodicalIF":0.0,"publicationDate":"2020-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41663001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Non-bank financial intermediation in Malta 马耳他的非银行金融中介

Law and Financial Markets Review Pub Date : 2020-06-07 DOI: 10.1080/17521440.2020.1759235

C. Buttigieg, Mariana Gkoutse, Theresa Fenech

{"title":"Non-bank financial intermediation in Malta","authors":"C. Buttigieg, Mariana Gkoutse, Theresa Fenech","doi":"10.1080/17521440.2020.1759235","DOIUrl":"https://doi.org/10.1080/17521440.2020.1759235","url":null,"abstract":"The paper presents a first estimate of the size of the non-bank financial intermediation (NBFI) in Europe's smallest member state as well as the regulatory implications for its monitoring. The assessment is based on the narrowing-down approach introduced by the Financial Stability Board. Results show that although the broad measure of NBFI is large, the actual NBFI perimeter is rather small, dominated by the locally-based investment funds. The paper also provides an extensive review of the EU and national regulatory framework within which NBFI entities operate, listing also the challenges arising from this sector. Based on extensive research and analysis of information from various reports, articles, web-sites and other sources referenced throughout the paper, it transpires that NBFI in Malta is not only small, but also subject to significant EU and national regulation. Given the benefits that the real economy could gain from NBFI, the main challenge for the regulators is to strike a balance between the optimisation of their benefits and the minimisation of potential losses due to the build-up of risks emanating from this sector.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"14 1","pages":"156 - 169"},"PeriodicalIF":0.0,"publicationDate":"2020-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17521440.2020.1759235","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49405569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Short-run performance evaluation of under-priced Indian IPOs 印度IPO定价偏低的短期业绩评估

Law and Financial Markets Review Pub Date : 2020-05-26 DOI: 10.1080/17521440.2020.1759239

B. Manjunath, J. Raju, M. Rehaman

{"title":"Short-run performance evaluation of under-priced Indian IPOs","authors":"B. Manjunath, J. Raju, M. Rehaman","doi":"10.1080/17521440.2020.1759239","DOIUrl":"https://doi.org/10.1080/17521440.2020.1759239","url":null,"abstract":"The under-pricing of Initial Public Offerings (IPO) speaks to one of the inconsistencies seen in essential markets (primary market) worldwide, however, the profundity and broadness of its shift from nation to nation. In this context, the study is a posteriori analysis of the short-run performance of Indian IPOs in the National Stock Exchange (NSE). The study aims to determine the relationship between the returns of IPOs and NIFTY50 (benchmark index) using correlation and regression analysis. To determine the performance of the IPOs, whether they are outperforming or underperforming using Wealth Relative Model. As the investors look for attractive returns through primary market opportunities, therefore, historical returns of trading days 1, 5, 10, 15 and 20 are taken into consideration. The study uses data of 114 Indian IPOs that were listed in the NSE during the period 2014–2018 as part of secondary data, however, a total of 71 under-priced IPOs listed in the NSE are utilized for analysis. The study concludes there is a significant under-pricing of IPOs with trading day 15th showing the highest initial returns.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"14 1","pages":"170 - 175"},"PeriodicalIF":0.0,"publicationDate":"2020-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17521440.2020.1759239","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48611340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3