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Herding in Finance, Stock Market Crashes, Frenzies, and Bank Runs

Markus K. Brunnermeier

in Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198296980
eISBN:
9780191596025
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198296983.003.0006
Subject:
Economics and Finance, Financial Economics

This chapter shows that herding can help to explain many empirical phenomena in finance, like stock market crashes. In a setting with widely dispersed information, even relatively unimportant news ... More


Re-Imagining Capitalism

Dominic Barton, Dezsö Horváth, and Matthias Kipping (eds)

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785453
eISBN:
9780191827372
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785453.001.0001
Subject:
Business and Management, International Business

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing proportion of humanity out of ... More


Corporate Governance in Contention

Ciaran Driver and Grahame Thompson (eds)

Published in print:
2018
Published Online:
July 2018
ISBN:
9780198805274
eISBN:
9780191843402
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198805274.001.0001
Subject:
Business and Management, Corporate Governance and Accountability, Finance, Accounting, and Banking

This book addresses major modern controversies in corporate governance, clarifying the issues at stake and assessing the arguments for corporate reform. The main focus is on governance of the large ... More


Designing Institutions for Future Generations: An Introduction

Iñigo González-Ricoy and Axel Gosseries

in Institutions For Future Generations

Published in print:
2016
Published Online:
January 2017
ISBN:
9780198746959
eISBN:
9780191809248
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198746959.003.0001
Subject:
Political Science, Political Theory, Environmental Politics

This chapter presents the book’s goals and structure as well as key notions that should be kept in mind while going through the book’s seventeen proposals. Short-termism and the diversity of its ... More


The Financing of Biotech

Geoffrey Owen and Michael M. Hopkins

in Science, the State, and the City: Britain's Struggle to Succeed in Biotechnology

Published in print:
2016
Published Online:
May 2016
ISBN:
9780198728009
eISBN:
9780191794308
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198728009.003.0007
Subject:
Business and Management, Innovation, International Business

This chapter addresses the question of whether the progress of the UK biotech sector has been held back by lack of support from the financial system. It looks in particular at whether UK investor ... More


The Professionalization Challenge

Georges Romme

in The Quest for Professionalism: The Case of Management and Entrepreneurship

Published in print:
2016
Published Online:
March 2016
ISBN:
9780198737735
eISBN:
9780191801266
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198737735.003.0002
Subject:
Business and Management, Innovation

This chapter develops the professionalization framework that is central to The Quest for Professionalism. First, the historical context of this quest is explored, and then several examples serve to ... More


The Big Picture

Graeme Salaman and John Storeym

in A Better Way of Doing Business?: Lessons from The John Lewis Partnership

Published in print:
2016
Published Online:
September 2016
ISBN:
9780198782827
eISBN:
9780191825996
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198782827.003.0001
Subject:
Business and Management, Organization Studies, Business History

Something is wrong with the modern corporation, especially the US/UK version. The problem is what the firm is organized to achieve and for whom, and the ways in which it is exposed to the market ... More


“Maximizing Shareholder Value” Is an Unnecessary and Unworkable Corporate Objective

Lynn Stout

in Re-Imagining Capitalism

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785453
eISBN:
9780191827372
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785453.003.0012
Subject:
Business and Management, International Business

chapter argues that “maximizing shareholder value” is unnecessary and unworkable as a business objective. Each element—maximize, shareholder, and value—is problematic. First, while maximizing a ... More


Imagining a Sustainable Financial System

Simon Zadek

in Re-Imagining Capitalism

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785453
eISBN:
9780191827372
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785453.003.0014
Subject:
Business and Management, International Business

Financial and capital markets create externalities, positively when serving the needs of an inclusive, sustainable economy, and negatively when holding back economic development, and increasing ... More


Conclusion: Capitalism Re-Imagined

Dezsö Horváth and Dominic Barton

in Re-Imagining Capitalism

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785453
eISBN:
9780191827372
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785453.003.0021
Subject:
Business and Management, International Business

This chapter presents a response to the challenges facing capitalism today, including the erosion in public trust and a growing focus on short-term performance. After briefly highlighting the ... More


The Partial Disinfectant of Sunlight

Donald C. Langevoort

in Selling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor Protection

Published in print:
2016
Published Online:
June 2016
ISBN:
9780190225667
eISBN:
9780190225698
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190225667.003.0005
Subject:
Economics and Finance, Financial Economics, Economic History

The mandatory disclosure regime makes fraud harder and plays other economic, social, and political roles, many of them highly contested. The content is interesting partly because of what doesn’t have ... More


Workers’ Voice in Company Decision-Making

Janet Williamson and Tim Page

in New Perspectives on Industrial Policy for a Modern Britain

Published in print:
2015
Published Online:
August 2015
ISBN:
9780198706205
eISBN:
9780191775307
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198706205.003.0012
Subject:
Economics and Finance, Public and Welfare, Macro- and Monetary Economics

This chapter explores UK corporate governance and puts forward the case for greater worker representation (voice) on UK corporate boards. The chapter explores the prevailing features of UK corporate ... More


Institutional Design and Sources of Short-Termism

Michael K. MacKenzie

in Institutions For Future Generations

Published in print:
2016
Published Online:
January 2017
ISBN:
9780198746959
eISBN:
9780191809248
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198746959.003.0002
Subject:
Political Science, Political Theory, Environmental Politics

Future-oriented institutions aim to correct short-term biases in political systems and produce policies that achieve a better balance between the legitimate concerns of the present and the potential ... More


Political Institutions for the Future: A Fivefold Package

Simon Caney

in Institutions For Future Generations

Published in print:
2016
Published Online:
January 2017
ISBN:
9780198746959
eISBN:
9780191809248
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198746959.003.0008
Subject:
Political Science, Political Theory, Environmental Politics

Governments often adopt short-term policies that unnecessarily reduce the standard of living of the current generation and also violate their responsibilities to future generations. It is therefore ... More


The Debiasing Role of the Cross-Border Insolvency System

Irit Mevorach

in The Future of Cross-Border Insolvency: Overcoming Biases and Closing Gaps

Published in print:
2018
Published Online:
April 2018
ISBN:
9780198782896
eISBN:
9780191826115
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198782896.003.0002
Subject:
Law, Company and Commercial Law, Private International Law

This chapter explores what the reasons for deviating from modified universalism in practice may be. To do so, it draws on behavioural international law and economics. The chapter argues that certain ... More


A primer on pay: Executive Compensation and Efficient Contracting

Graeme Guthrie

in The Firm Divided: Manager-Shareholder Conflict and the Fight for Control of the Modern Corporation

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190641184
eISBN:
9780190641214
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190641184.003.0005
Subject:
Economics and Finance, Financial Economics

One of a board’s most important roles is setting executive pay. This chapter introduces the various components of executive compensation schemes and analyzes the pay-setting process using the ... More


Constitutionalizing Intergenerational Provisions

Iñigo González-Ricoy

in Institutions For Future Generations

Published in print:
2016
Published Online:
January 2017
ISBN:
9780198746959
eISBN:
9780191809248
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198746959.003.0010
Subject:
Political Science, Political Theory, Environmental Politics

The chapter provides an overview of the main forms that intergenerational constitutional provisions, i.e. provisions addressing the interests of future generations, can adopt. It then addresses the ... More


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