The post-financial crisis challenges for corporate governance and banking reform in China

The purpose of this paper is to review the impact of the global financial crisis on banking reform in China. The significant doubt concerning the efficiencies of Anglo-American model of corporate governance has raised a critical political question amongst scholars and practitioners as to whether China should continue to follow the U.K.-U.S. path in relation to financial reform. This conceptual paper provides an insightful review of the corporate governance literature and regulatory reports. After examining the fundamental limitations of the laissez-faire philosophy that underpins the neo-liberal model of capitalism, which promotes greater liberalization and less control, the paper considers the risks in opening China’s financial markets and relaxing monetary and fiscal policies. A critique of shareholder-capitalism is outlined in relation to the German’s “social market economy” styled capitalism. Through such analysis the paper explores a number of implications for China to consider in terms of developing a new and sustainable corporate governance model applicable to the Chinese context.

Do dot coms add value : a preliminary study of the market capitalisation of Australian and Indian telecoms and banking sectors

E-Business is increasingly reshaping the way businesses operate across the globe. Globally, businesses in the banking and telecoms sectors have been re-engineering their value chains by adopting e-Business presence by means of dot com launches. The second half of the 1990s, however, saw both the rise and subsequent collapse of dot com entities as a major focus of investment interest, with consequent speculation over the viability of this corporate vehicle. The perceived increase in market capitalisation by means of these ventures during the boom period is now not so certain. In this paper, we report the results of a preliminary study which investigated the impact of dot com launches on market capitalisation within the banking and telecoms sectors of Australia and India.

Effect of labour market reform on women in the Australian banking industry

[No Abstract]

Interjurisdictional allocation of multinational banking income : aligning taxation principles with economic activity

This thesis argues that one type of multinational entity – the multinational bank – poses particularly significant challenges to the international tax regime in terms of its current profit allocation rules. Multinational banks are a unique subset of multinational entities, and as a consequence of their unique traits, the traditional international tax regime foes not yield an optimal interjurisdictional allocation of taxing rights. The opportunity for tax minimisation, achievable because of the unique traits, and realised through exploitation of the traditional source and transfer pricing regime, results in a jurisdictional distribution of taxing rights which does not reflect economic reality. There are two distinct ways in which the traditional international tax regime fails to reflect economic activity. The first way that economic activity may not be reflected in the distribution of the taxing rights to income from multinational banking is through the application of traditional source rules. The traditional sources rules allocate income where transactions are completed rather than where the intermediation services are arranged. As a result of their unique commercial role as financial intermediaries, by separating intermediary economic activity from legal transactions with third parties, multinational banks may distort the true location of the activity giving rise to income. The second way in which the traditional tax regime may fail to reflect economic activity is through the traditional transfer pricing regime requiring related or internal transaction to be undertaken at an arm’s length price. The arm’s length pricing requirement is theoretically deficient in its failure to recognise the highly integrated nature of multinational banking. In practice, the arm’s length pricing requirement is also difficult, if not impossible, to apply to multinational banks because of the requirement of comparability. The difficulties associated with the current model have resulted in a subtle move by multinational banks towards global formulary apportionment. This thesis concludes that, for the international taxation of multinational banks, the current source regime should be replaced with a system that allocates profits for tax purposes on the basis of income source, with source determined using a unitary taxation or global formulary apportionment system. It is argued that global formulary apportionment is a theoretically superior model that provides both jurisdiction to tax and allocated profits on the basis of the economic activity that generates the income.

Dot.Com rise as an indicator of business growth and economic progress : a retrospective view on telecom and banking sectors in Australia and India

In the year 2000, businesses in banking and telecom sectors worldwide re-engineered their value chain by extending their services by adapting ebusiness through dot.com launches. Subsequently, their validity became questionable with the spate of dot.com crashes and the IT stock meltdown. This book takes a retrospective view, indicating that e-business, as measured by dot.com growth trends, was a positive indicator for business growth in the sector and overall economic growth as it stimulated the respective economies. The book details an inductive analysis that studied if dot.com floats suggested any positive market capitalisation (broadly regarded as a measure of profitability) for the organisations, within two sectors, in two economies. In addition, there is detailed content analysis of global business trends, drivers, theories, sector/economy perspectives, achieved progress and instrumental cases. The book will be a view in retrospect for economists, business analysts, students of ebusiness and management (particularly MBA); academics and researchers.

Comparison of Reactive Power Support in Distribution Networks Provided by Capacitor Banks and Distributed Generators

This paper presents a comparison of reactive power support in distribution networks provided by switched Capacitor Banks (CBs) and Distributed Generators (DGs). Regarding switched CBs, a Tabu Search metaheuristic algorithm is developed to determine their optimal operation with the objective of reducing the power losses in the lines on the system, while meeting network constraints. on the other hand, the optimal operation of DGs is analyzed through an evolutionary Multi-Objective (MO) programming approach. The objectives of such approach are the minimization of power losses and operation cost of the DGs. The comparison of the reactive power support provided by switched CBs and DGs is carried out using a modified IEEE 34 bus distribution test system.

Transnational banks and the external finance of Latin America: the experience of Peru

Includes bibliography

Regulación y supervisión de la banca e instituciones financieras: estudios de caso de América Latina y el Caribe: conclusiones y recomendaciones, Santiago 3-5 diciembre 1990 y 22-23 agosto 1991 = Regulation and supervision of banks and financial institutions: case studies in Latin America and the Caribbean: conclusions and recommendations, Santiago, 3-5 December 1990 and 22-23 August 1991

Documentos presentados a dos seminarios realizados en la Sede de CEPAL en Santiago entre el 3 y 5 de diciembre de 1990 y el 22 y 23 de agosto de 1991

The relation between foreign exchange and banking crises in emerging countries: information and expectations problems

Includes bibliography

Report on the Workshop on Projects Banks and Investment Programming for Officials of Caribbean Planning Units

Presenta los objetivos principales de la reunión: discutir la metodología y operacionalidad de los bancos de proyectos computarizados como instrumentos de política para los programas de inversiones del sector público; y examinar métodos para medir el impacto macroeconómico de las inversiones públicas en ciertas variables como el empleo, la actividad económica y el financiamiento interno y externo.

Report of the Ad Hoc Group of Experts' Meeting on Trade Finance, Transnational Banks and External Finance

Presenta el informe de la reunión que tuvo como objetivo analizar los mecanismos financieros del comercio en el Caribe de habla inglesa, y revisar el rol de los bancos transnacionales y el financiamiento externo en la región

International commercial banks and their cross-border lending to governments of developing countries: a study of Peru, 1965-1976: preliminary version

Includes bibliography