Lessons from the Last Financial Crisis and the Future Role of Institutional Investors:
The dynamics of the financial crisis were driven by underpricing of risk and lack of transparency, which led to a loss of confidence when the bubble finally burst. Crisis resolution involved massive government interventions that caused a permanent transfer of losses to the public sector as well as s...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch Buchkapitel |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2011
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| Schlagworte: | |
| Online-Zugang: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 Volltext |
| Zusammenfassung: | The dynamics of the financial crisis were driven by underpricing of risk and lack of transparency, which led to a loss of confidence when the bubble finally burst. Crisis resolution involved massive government interventions that caused a permanent transfer of losses to the public sector as well as sovereign-debt crises that may involve painful solutions. Letting banks fail is a necessary disciplinary factor, but this requires a well-defined "game plan" which did not exist in the crisis. Regulatory reforms underway aim at restoring confidence, but they may hamper the long-term potential of institutional investors. Nevertheless, institutional investors should still be able to provide risk capital - except for perhaps pension funds, which have been weakened by demographic developments. Finally, improving governance and reducing excessive risk-taking are important but challenging tasks. More active and involved shareholders could further these goals, but such participation will be hard to achieve. Therefore, transparent bonus and remuneration plans are perhaps the most important initiatives for preventing future systemic financial crises |
| Beschreibung: | 1 Online-Ressource (6 Seiten) 21 x 28cm |
| DOI: | 10.1787/fmt-2011-5kg55qw1t335 |
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| spelling | Rohde, Lars Verfasser aut Lessons from the Last Financial Crisis and the Future Role of Institutional Investors Lars Rohde Paris OECD Publishing 2011 1 Online-Ressource (6 Seiten) 21 x 28cm txt rdacontent c rdamedia cr rdacarrier The dynamics of the financial crisis were driven by underpricing of risk and lack of transparency, which led to a loss of confidence when the bubble finally burst. Crisis resolution involved massive government interventions that caused a permanent transfer of losses to the public sector as well as sovereign-debt crises that may involve painful solutions. Letting banks fail is a necessary disciplinary factor, but this requires a well-defined "game plan" which did not exist in the crisis. Regulatory reforms underway aim at restoring confidence, but they may hamper the long-term potential of institutional investors. Nevertheless, institutional investors should still be able to provide risk capital - except for perhaps pension funds, which have been weakened by demographic developments. Finally, improving governance and reducing excessive risk-taking are important but challenging tasks. More active and involved shareholders could further these goals, but such participation will be hard to achieve. Therefore, transparent bonus and remuneration plans are perhaps the most important initiatives for preventing future systemic financial crises Finance and Investment https://doi.org/10.1787/fmt-2011-5kg55qw1t335 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Rohde, Lars Lessons from the Last Financial Crisis and the Future Role of Institutional Investors Finance and Investment |
| title | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors |
| title_auth | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors |
| title_exact_search | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors |
| title_exact_search_txtP | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors |
| title_full | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors Lars Rohde |
| title_fullStr | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors Lars Rohde |
| title_full_unstemmed | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors Lars Rohde |
| title_short | Lessons from the Last Financial Crisis and the Future Role of Institutional Investors |
| title_sort | lessons from the last financial crisis and the future role of institutional investors |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
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