scholarly journals Business Groups and Risk Sharing around the World

2005 ◽  
Vol 78 (1) ◽  
pp. 301-340 ◽  
Author(s):  
Tarun Khanna ◽  
Yishay Yafeh
2005 ◽  
pp. 72-89 ◽  
Author(s):  
Ya. Pappe ◽  
Ya. Galukhina

The paper is devoted to the role of the global financial market in the development of Russian big business. It proves that terms and standards posed by this market as well as opportunities it offers determine major changes in Russian big business in the last three years. The article examines why Russian companies go abroad to attract capital and provides data, which indicate the scope of this phenomenon. It stresses the effects of Russian big business’s interaction with the world capital market, including the modification of the principal subject of Russian big business from integrated business groups to companies and the changes in companies’ behavior: they gradually move away from the so-called Russian specifics and adopt global standards.


Author(s):  
Truman Packard ◽  
Ugo Gentilini ◽  
Margaret Grosh ◽  
Philip O’Keefe ◽  
Robert Palacios ◽  
...  
Keyword(s):  

2020 ◽  
Vol 18 (1) ◽  
pp. 79-95
Author(s):  
Oliver Kühschelm

Since the eighteenth century, but with increased dynamism in the twentieth century, calls on consumers to buy national products have proliferated all around the world. This article discusses which historical constellations have given rise to the demand for patriotic shopping. Each case raises the question whether the demand was voiced within the framework of a broad national movement with political, cultural, and economic goals or was rather a case of business interest groups attempting to increase sales. These are not mutually exclusive alternatives: calls to buy national have often entailed an element of both. However, some have more the character of a movement beyond the immediate control of business groups, while others are just a promotional campaign. All in all, the demand for nationally minded consumption has mostly sought to establish business as deserving the solidarity of citizens. It has also displayed a patriarchal and authoritarian bent. But have such exhortations produced the desired effect? It is doubtful that any buy national campaign or movement has fundamentally changed the shopping patterns of consumers, at least if we discount physical violence and short-term success. Yet the call for patriotic consumption has often prepared the discursive ground for protectionist measures. As an effort to promote consent, they have tied into the hegemonic project of the capitalist nation state.


2001 ◽  
Vol 91 (4) ◽  
pp. 1031-1054 ◽  
Author(s):  
Stefano G Athanasoulis ◽  
Robert J Shiller

A method is constructed for decomposing the variance of changes in incomes in the world into components, to indicate the most important risk-sharing opportunities among people of the world. A constant absolute risk premium (CARP) model, an intertemporal general-equilibrium model of the world, is presented to permit optimal contract design. For a contract designer maximizing a social welfare function, the optimal contracts maximize the equilibrium world real interest rate. Securities are defined in terms of eigenvectors of a transformed variance matrix. The method is applied using Penn World Table data on the G-7 countries, 1950–1992. (JEL F00, G00, G10)


2016 ◽  
Vol 27 (03) ◽  
pp. 1650025
Author(s):  
Xiaobing Feng ◽  
Haibo Hu

To control counterparty risk, financial regulations such as the Dodd–Frank Act are increasingly requiring standardized derivatives trades to be cleared by central counterparties (CCPs). It is anticipated that in the near term future, CCPs across the world will be linked through interoperability agreements that facilitate risk sharing but also serve as a conduit for transmitting shocks. This paper theoretically studies a networked network with CCPs that are linked through interoperability arrangements. The major finding is that the different configurations of networked network CCPs contribute to the different properties of the cascading failures.


2020 ◽  
Vol 4 (1) ◽  
pp. 17
Author(s):  
Chenxi Hu

Since the development of Chinese firms, more and more Chinese firms would like to operate their business over the world to increase their strength. For the difficulty of expanding the scale of the company in a short term, many Chinese firms made use of strategy asset seeking to achieve their goal. This article will develop the evidence of Haier Group and Lenovo Group and find the role and effect of their outward strategy asset seeking.


2020 ◽  
Vol 13 (8) ◽  
pp. 183
Author(s):  
Viral V. Acharya ◽  
Aaditya M. Iyer ◽  
Rangarajan K. Sundaram

We address the paradox that financial innovations aimed at risk-sharing appear to have made the world riskier. Financial innovations facilitate hedging idiosyncratic risks among agents; however, aggregate risks can be hedged only with liquid assets. When risk-sharing is primitive, agents self-hedge and hold more liquid assets; this buffers aggregate risks, resulting in few correlated failures compared to when there is greater risk sharing. We apply this insight to build a model of a clearinghouse to show that as risk-sharing improves, aggregate liquidity falls but correlated failures rise. Public liquidity injections, for example, in the form of a lender-of-last-resort can reduce this systemic risk ex post, but induce lower ex-ante levels of private liquidity, which can in turn aggravate welfare costs from such injections.


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