The Mortgage and Financial Crises: The Role of Credit Risk Management and Corporate Governance

Lang, William W.; Jagtiani, Julapa

doi:10.1007/s11293-010-9221-7

Cited by 49 publications

(41 citation statements)

References 25 publications

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“…The enormous consequences, namely catastrophic losses of financial firms which almost led to a collapse of the financial system followed by the deep global recession emphasises the importance of CG (Lang & Jagtiani, 2010).…”

Section: Introductionmentioning

confidence: 99%

The Effect of Ownership Structure and Corporate Governance on Capital Structure of Ghanaian Listed Manufacturing Companies

Agyei¹,

Owusu²

2014

IJARAFMS

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Section: Introductionmentioning

confidence: 99%

The Effect of Ownership Structure and Corporate Governance on Capital Structure of Ghanaian Listed Manufacturing Companies

Agyei¹,

Owusu²

2014

IJARAFMS

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“…(Erkens, Hung and Matos, 2012;Brunnermeier, 2009). William W. Lang and J. Jagtiani saw the problem as linked to failing risk management strategies of banks and financial institutions, relying on untested risk models which failed to correctly predict the housing downturn (Lang and Jagtiani, 2010).…”

Section: The 2008 Global Crisis Liberal-keynesian Dispute: Liberal Viewmentioning

confidence: 99%

Turkey: In the Midst of Crisis, Between Liberal Utopia and Keynesian Regulation

Üşenmez¹

2017

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As Turkey's growth numbers signalled negative news about the near future, possible economic remedies to solve an upcoming economic slowdown have been discussed. In this article by looking at the financial and banking sector performance of the country during 2001 local and 2008 global crisis, I tried to compare two mainstream strands of theory, i.e. liberal and Keynesian approaches to the economic crisis. It seems like the country has experienced a neo-liberal, unregulated financial episode until 2001 crisis, while in post-2001 period we have witnessed more regulatory and Keynesian financial remedies which were successful to save the country from more harmful effects of the Great Recession. Those Keynesian style regulations were mainly inspired from the effects of changes within the governing style of international financial institutions. But in the final section of the analysis, through pointing out the potential triggers for another economic crisis, this article argues that though Keynesian solutions are more logical and helpful in alleviating the symptoms of crisis, they could not make Turkey crisis-free. High current account deficits, persistent inflation, adamant unemployment and insufficient domestic production in the face of rising imports, all of these can be classified as the symptoms of the still crisis prone economic structure in the country. Then, other, more radical alternatives should be on the agenda for a better future.

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“…Gorton (2009) explains the genesis of the mortgage crisis by stating that CDOs were too complex to be effectively analyzed by market participants. Lang and Jagtiani (2010) argue that this opacity made these instruments attractive to business managers precisely because they enabled managers to increase their activities without triggering risk alerts.…”

Section: Evaluating Stress Testing As a Tool To Enhance Financiamentioning

confidence: 99%

Enhancing Prudential Standards in Financial Regulations

et al. 2016

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The financial crisis has generated fundamental reforms in the financial regulatory system in the U.S. and internationally. Much of this reform was in direct response to the weaknesses revealed in the precrisis system. The new “macroprudential” approach to financial regulations focuses on risks arising in financial markets broadly, as well as the potential impact on the financial system that may arise from financial distress at systemically important financial institutions. Systemic risk is the key factor in financial stability, but our current understanding of systemic risk is rather limited. While the goal of using regulation to maintain financial stability is clear, it is not obvious how to design an effective regulatory framework that achieves the financial stability objective while also promoting financial innovations. This paper discusses academic research and expert opinions on this vital subject of financial stability and regulatory reforms. Specifically, among other issues, it discusses the impact of increasing public disclosure of supervisory information, the effectiveness of bank stress testing as a tool to enhance financial stability, whether the financial crisis was caused by too big to fail (TBTF), and whether the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) resolution regime would be effective in achieving financial stability and ending TBTF

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The Mortgage and Financial Crises: The Role of Credit Risk Management and Corporate Governance

Abstract: Financial crisis, Risk management, Corporate governance, Subprime crisis, G01, G18, G21, G28,

Cited by 49 publications

References 25 publications

The Effect of Ownership Structure and Corporate Governance on Capital Structure of Ghanaian Listed Manufacturing Companies

The Effect of Ownership Structure and Corporate Governance on Capital Structure of Ghanaian Listed Manufacturing Companies

Turkey: In the Midst of Crisis, Between Liberal Utopia and Keynesian Regulation

Enhancing Prudential Standards in Financial Regulations

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