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Author: Michael Lounsbury
Publisher: Emerald Group Publishing
ISBN: 0857242059
Category : Social Science
Languages : en
Pages : 347
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Book Description
Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This title addresses the global financial crisis debates.
Author: Michael Lounsbury
Publisher: Emerald Group Publishing
ISBN: 0857242059
Category : Social Science
Languages : en
Pages : 347
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Book Description
Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This title addresses the global financial crisis debates.
Author: Jeffrey C. Williams
Publisher: Cambridge University Press
ISBN: 9780521063470
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The unprecedented rise and fall in silver's price during 1979-80 resulted in charges of market manipulation against the Hunt brothers of Dallas, charges that led to a lengthy trial and a guilty verdict. In this book Jeffrey Williams, who was an expert witness in the actual trial, focuses on the economic analysis used at the trial, the relationship of that analysis to the attorneys' arguments, and its effectiveness before the jury. Manipulation on Trial draws broadly applicable lessons from this important case. Through a series of essays, it investigates the elusive definition of manipulation, the difficulties of interpreting statistical evidence, the imprecision in calculating damages, and the hazards introduced when economic analysis enters complex litigation.
Author: Michael Lounsbury
Publisher: Emerald Group Publishing
ISBN: 0857242075
Category : Social Science
Languages : en
Pages : 405
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Book Description
Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This title addresses the global financial crisis debates and struggles around how to organize economies and societies around the world.
Author: Walter Adams
Publisher:
ISBN: 9780691602073
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Is it the central purpose of American antitrust policy to encourage decentralization of economic power? Or is it to promote "consumer welfare"? Is there a painful trade-off between market dominance and economic "efficiency"? What is the proper role of government in this area? In recent years the public policy debate on these core questions has been marked by a cacophony of divergent opinions--theorists against empiricists, apostles of the "new learning" against defenders of the traditional structure-conduct-performance paradigm, "laissez-faire" advocates against "interventionists." Utilizing a distinctively innovative format, Walter Adams and James Brock examine these issues in the context of a courtroom dialogue among a proponent of the new learning (Chicago School), a prosecuting attorney, and a U.S. district judge. In contrast to bloodless "scientific" treatises or ideologically inspired polemical tracts, this book lays bare the central arguments in the debate about free-market economics and the latent assumptions and disguised terminology on which those arguments are based. The dialogue is both gripping and entertaining--designed by the authors to be reminiscent at times of the Theater of the Absurd. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Michael Lounsbury
Publisher: Emerald Group Publishing Limited
ISBN: 9780857242051
Category : Social Science
Languages : en
Pages : 0
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Book Description
Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This title addresses the global financial crisis debates.
Author: Hilary Till
Publisher:
ISBN:
Category :
Languages : en
Pages : 8
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Book Description
Financial professionals are well aware that the ongoing implementation of the Dodd-Frank Act may cause changes to market structure, including in the futures markets. Should market participants be concerned? The short answer is not necessarily, given that the history of U.S. futures trading is one of responding to constant adversity through innovation. This paper reviews the evolution of US futures markets including: how and why modern futures trading started in Chicago; the transformation of U.S. futures exchanges from primarily agricultural futures exchanges to financial futures exchanges; how the Chicago and New York futures exchanges have had to constantly innovate in order to remain in business; and why some futures contracts fail.
Author: Jean Bethke Elshtain
Publisher: House of Anansi
ISBN: 0887848540
Category : Political Science
Languages : en
Pages : 162
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Book Description
Is democracy as we know it in danger? More and more we confront one another as aggrieved groups rather than as free citizens. Deepening cynicism, the growth of corrosive individualism, statism, and the loss of civil society are warning signs that democracy may be incapable of satisfying the yearnings it itself unleashes - yearnings for freedom, fairness, and equality. In her 1993 CBC Massey Lectures, political philosopher Jean Bethke Elshtain delves into these complex issues to evaluate democracy's chances for survival.
Author: Mukesh Bajaj
Publisher:
ISBN:
Category :
Languages : en
Pages : 51
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Book Description
Following the Supreme Court's 1988 decision in Basic, securities class plaintiffs can invoke the “rebuttable presumption of reliance on public, material misrepresentations regarding securities traded in an efficient market” [the “fraud-on-the market” doctrine] to prove class-wide reliance. Although this requires plaintiffs to prove that the security traded in an informationally efficient market throughout the class period, Basic did not identify what constituted adequate proof of efficiency for reliance purposes. Market efficiency cannot be presumed without proof because even large publicly-traded stocks do not always trade in efficient markets, as documented in the economic literature that has grown significantly since Basic. For instance, during the recent global financial crisis, lack of liquidity limited arbitrage (the mechanism that renders markets efficient) and led to significant price distortions in many asset markets. Yet, lower courts following Basic have frequently granted class certification based on a mechanical review of some factors that are considered intuitive “proxies” of market efficiency (albeit incorrectly, according to recent studies and our own analysis). Such factors have little probative value and their review does not constitute the rigorous analysis demanded by the Supreme Court. Instead, to invoke fraud-on-the market, plaintiffs must first establish that the security traded in a weak-form efficient market (absent which a security cannot, as a logical matter, trade in a “semi-strong form” efficient market, the standard required for reliance purposes) using well-accepted tests. Only then do event study results, which are commonly used to demonstrate “cause and effect” (i.e., prove that the security's price reacted quickly to news -- a hallmark of a semi-strong form efficient market) have any merit. Even then, to claim class wide reliance, plaintiffs must prove such cause and effect relationship throughout the class period, not simply on selected disclosure dates identified in the complaint as plaintiffs often do. These issues have policy implications because, once a class is certified, defendants frequently settle to avoid the magnified costs and risks associated with a trial, and the merits of the case (including the proper application of legal presumptions) are rarely examined at a trial.
Author: Henry B. McFarland
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
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Book Description
This paper addresses issues concerning how to present and assess economic evidence that arose in the recent antitrust litigation involving the U.S. Department of Justice (DOJ) and America n Express (Amex). It focuses on how Amex's nature as a two-sided platform affected market definition and the analysis of market power. DOJ proposed a market definition based on one side of the platform, general purpose credit and charge card services sold to merchants. The court accepted that definition. DOJ also analyzed market power that was exercised solely on one side of the platform -- against merchants. The court was willing to find market power based on one side of the platform if there was no compelling offsetting evidence pertaining to the other side. Defining markets and looking for market power on only one side of a two-sided platform risks missing conditions on the other side that would undermine those findings.
Author: David Greising
Publisher: John Wiley & Sons
ISBN:
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
Describes the two year government undercover operation investigating corruption and illegal practices in the two Chicago commodity exchanges and culminating in the indictments of 46 industry professionals. Describes how these very complicated markets function and how their ``old-boy club'' style first created the problems and later shielded many of its members from investigation and prosecution. A true inside account, it explores rampant fraud and abuse in the futures markets.
