Stages of Capital
Stages of Capital

Author: Ritu Birla

Publisher: Duke University Press

Published: 2009-01-14

Total Pages: 360

ISBN-13: 082239247X

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In Stages of Capital, Ritu Birla brings research on nonwestern capitalisms into conversation with postcolonial studies to illuminate the historical roots of India’s market society. Between 1870 and 1930, the British regime in India implemented a barrage of commercial and contract laws directed at the “free” circulation of capital, including measures regulating companies, income tax, charitable gifting, and pension funds, and procedures distinguishing gambling from speculation and futures trading. Birla argues that this understudied legal infrastructure institutionalized a new object of sovereign management, the market, and along with it, a colonial concept of the public. In jurisprudence, case law, and statutes, colonial market governance enforced an abstract vision of modern society as a public of exchanging, contracting actors free from the anachronistic constraints of indigenous culture. Birla reveals how the categories of public and private infiltrated colonial commercial law, establishing distinct worlds for economic and cultural practice. This bifurcation was especially apparent in legal dilemmas concerning indigenous or “vernacular” capitalists, crucial engines of credit and production that operated through networks of extended kinship. Focusing on the story of the Marwaris, a powerful business group renowned as a key sector of India’s capitalist class, Birla demonstrates how colonial law governed vernacular capitalists as rarefied cultural actors, so rendering them illegitimate as economic agents. Birla’s innovative attention to the negotiations between vernacular and colonial systems of valuation illustrates how kinship-based commercial groups asserted their legitimacy by challenging and inhabiting the public/private mapping. Highlighting the cultural politics of market governance, Stages of Capital is an unprecedented history of colonial commercial law, its legal fictions, and the formation of the modern economic subject in India.

Governance, Compliance and Supervision in the Capital Markets, + Website
Governance, Compliance and Supervision in the Capital Markets, + Website

Author: Sarah Swammy

Publisher: John Wiley & Sons

Published: 2018-05-11

Total Pages: 176

ISBN-13: 1119380650

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The definitive guide to capital markets regulatory compliance Governance, Compliance, and Supervision in the Capital Markets demystifies the regulatory environment, providing a practical, flexible roadmap for compliance. Banks and financial services firms are under heavy regulatory scrutiny, and must implement comprehensive controls to comply with new rules that are changing the way they conduct business. This book provides a way forward, with clear, actionable guidance that strengthens governance at all levels, and balances supervisory and compliance requirements with the need to do business. From regulatory schemes to individual roles and responsibilities, this invaluable guide details the most pressing issues in today's financial services organizations, and provides expert advice. The ancillary website provides additional tools and guidance, including checklists, required reading, and sample exercises that help strengthen understanding and ease real-world implementation. Providing both a broad overview of governance, compliance, and supervision, as well as detailed guidance on application, this book presents a solid framework for firms seeking a practical approach to meeting the new requirements. Understand the importance of governance and "Tone at the Top" Distinguish the roles of compliance and supervision within a financial services organization Delve into the regulatory scheme applicable to broker dealers, banks, and investment advisors Examine the risks and consequences of inadequate supervision at the organizational or individual level The capital markets regulatory environment is complex and ever-evolving, yet compliance is mandatory. A solid understanding of regulatory structure is critical, but must also be accompanied by a practical strategy for effective implementation. Governance, Compliance, and Supervision in the Capital Markets provides both, enabling today's banks and financial services firms to get back on track and get back to business.

Capital Rules
Capital Rules

Author: Rawi Abdelal

Publisher: Harvard University Press

Published: 2009-09-30

Total Pages: 250

ISBN-13: 0674034554

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"The rise of global financial markets in the last decades of the twentieth century was premised on one fundamental idea: that capital ought to flow across country borders with minimal restriction and regulation. Freedom for capital movements became the new orthodoxy. In an intellectual, legal, and political history of financial globalization, Rawi Abdelal shows that this was not always the case. Transactions routinely executed by bankers, managers, and investors during the 1990s—trading foreign stocks and bonds, borrowing in foreign currencies—had been illegal in many countries only decades, and sometimes just a year or two, earlier. How and why did the world shift from an orthodoxy of free capital movements in 1914 to an orthodoxy of capital controls in 1944 and then back again by 1994? How have such standards of appropriate behavior been codified and transmitted internationally? Contrary to conventional accounts, Abdelal argues that neither the U.S. Treasury nor Wall Street bankers have preferred or promoted multilateral, liberal rules for global finance. Instead, European policy makers conceived and promoted the liberal rules that compose the international financial architecture. Whereas U.S. policy makers have tended to embrace unilateral, ad hoc globalization, French and European policy makers have promoted a rule-based, “managed” globalization. This contest over the character of globalization continues today."

Corporate Governance and Responsible Investment in Private Equity
Corporate Governance and Responsible Investment in Private Equity

Author: Simon Witney

Publisher: Cambridge University Press

Published: 2021-01-07

Total Pages: 241

ISBN-13: 1108627668

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Private equity-backed companies are ubiquitous and economically significant. Consequently, the corporate governance of these companies matters to all of us, and – not surprisingly – is coming under increasing scrutiny. Simon Witney, a practicing private equity lawyer, positions private equity portfolio companies within existing academic theory and examines the laws that apply to them in the UK. He analyses the actual governance frameworks that are put in place and identifies problems created by the legal rules – as well as the market's solutions to them. This book not only explains why these governance mechanisms are established, but also what they are expected to achieve. Witney suggests that private equity owners have both the incentives and the capability to focus on responsible investment practices. Good governance, he argues, is a critical success factor for the private equity industry.

Corporate Governance Matters
Corporate Governance Matters

Author: David Larcker

Publisher: FT Press

Published: 2011-04-14

Total Pages: 497

ISBN-13: 0132367076

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Corporate Governance Matters gives corporate board members, officers, directors, and other stakeholders the full spectrum of knowledge they need to implement and sustain superior governance. Authored by two leading experts, this comprehensive reference thoroughly addresses every component of governance. The authors carefully synthesize current academic and professional research, summarizing what is known, what is unknown, and where the evidence remains inconclusive. Along the way, they illuminate many key topics overlooked in previous books on the subject. Coverage includes: International corporate governance. Compensation, equity ownership, incentives, and the labor market for CEOs. Optimal board structure, tradeoffs, and consequences. Governance, organizational strategy, business models, and risk management. Succession planning. Financial reporting and external audit. The market for corporate control. Roles of institutional and activist shareholders. Governance ratings. The authors offer models and frameworks demonstrating how the components of governance fit together, with concrete examples illustrating key points. Throughout, their balanced approach is focused strictly on two goals: to “get the story straight,” and to provide useful tools for making better, more informed decisions.

Governing Finance
Governing Finance

Author: Andrew Walter

Publisher: Cornell University Press

Published: 2011-03-15

Total Pages: 255

ISBN-13: 0801458153

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The international financial community blamed the Asian crisis of 1997–1998 on deep failures of domestic financial governance. To avoid similar crises in the future, this community adopted and promoted a set of international "best practice" standards of financial governance. The G7 asked specialized public and private sector bodies to set international standards, and tasked the International Monetary Fund and the World Bank with their global dissemination. Non-Western countries were thereby encouraged to emulate Western practices in banking and securities supervision, corporate governance, financial disclosure, and policy transparency. In Governing Finance, Andrew Walter explains why Indonesia, Malaysia, South Korea, and Thailand—key targets and test cases of this international standards project—were placed under intense pressure to transform their domestic financial governance. Walter finds that the depth of the economic crisis, and more enduring aspects of Asian capitalism, such as family ownership of firms, made substantive compliance with international standards very costly for the private sector and politically difficult for governments to achieve. In spite of international compliance pressure, the result was varying degrees of cosmetic or "mock" compliance. In a book containing lessons for any agency or country attempting to implement lasting change in financial governance, Walter emphasizes the limits of global regulatory convergence in the absence of support from domestic politicians, institutions, and firms.

Lively Capital
Lively Capital

Author: Kaushik Sunder Rajan

Publisher: Duke University Press

Published: 2012-04-02

Total Pages: 523

ISBN-13: 0822348314

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This collection of anthropology of science essays explores the new forms of capital, markets, ethical, legal, and intellectual property concerns associated with new forms of research in the life sciences.

Private Equity
Private Equity

Author: Harry Cendrowski

Publisher: John Wiley & Sons

Published: 2012-05-01

Total Pages: 389

ISBN-13: 1118138503

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An authoritative guide to understanding the world of private equity (PE) investing, governance structures, and operational assessments of PE portfolio companies An essential text for any business/finance professional's library, Private Equity: History, Governance, and Operations, Second Edition begins by presenting historical information regarding the asset class. This information includes historical fundraising and investment levels, returns, correlation of returns to public market indices, and harvest trends. The text subsequently analyzes PE fund and portfolio company governance structures. It also presents ways to improve existing governance structures of these entities. A specific focus on portfolio company operations, including due diligence assessments, concludes the text. Seamlessly blends historical information with practical guidance based on risk management and fundamental accounting techniques Assists the book's professional audience in maximizing returns of their PE investments Highly conducive to advanced, graduate-level classroom use Purchase of the text includes access to a website of teaching materials for instructional use Learn more about PE history, governance, and operations with the authoritative guidance found in Private Equity: History, Governance, and Operations, Second Edition.