The damage done by the financial crisis now seems to require not a refurbishing job but an extreme makeover. While soul-searching and even self-loathing are inevitable during a crisis, this is no time for America to shy away from a capitalist system that has produced decades of economic growth, writes Krishna Kumar.
One way that U.S. households are coping with the global economic downturn is by reaching out to each other via financial help, according to recent survey results, which also reveal that many more households are giving financial help than receiving it and that help most frequently flows from parents to children.
Improving corporate compliance, ethics, and oversight has been a significant policy goal for the U.S. government for decades, and made more salient by the collapse of financial markets in late 2008. On March 5, 2009, RAND convened a conference in Washington, D.C., on the role and perspectives of corporate chief ethics and compliance officers in the detection and prevention of corporate misdeeds.
The RAND Summer Institute consists of conferences addressing critical issues facing our aging population. Select sessions from the 15th Annual RAND Summer Institute, held July 7-10, 2008 in Santa Monica, California, are available for online viewing.
Reports the results of an Internet survey conducted with the American Life Panel to address issues related to consumers' perceptions of credit unions and financial institutions and to help credit unions understand consumer behavior.
Describes ongoing RAND research on financial literacy in the Gulf States region. Financial literacy covers skills and knowledge: managing household finances requires basic mathematics and an understanding of finance providers, products, and services.
Ongoing research at the Center for Financial and Economic Decision Making (CFED) addresses the process of financial decision making over the life-cycle, in particular assessing how people collect information; how they think about risks, and probabilities; and how well they match their decisions to their preferences and interests.
RAND President and CEO James A. Thomson issued a statement today regarding President-elect Barack Obama's nomination of Timothy F. Geithner, a member of RAND's Board of Trustees as the next Secretary of the Treasury of the United States.
A positive relationship between socio-economic status and health is found in many industrialized countries. This study analyzes competing explanations and finds strong evidence of causal effects from both spouses' health on household wealth.
The financial services industry is complex and financial service professionals are becoming less distinguishable and more inter-related. However, investors are generally highly satisfied with their own financial service providers.
Analyzes experimental survey data, with a random split into respondents who get an open-ended question and those immediately directed to unfolding brackets. Once yea-saying is taken into account, no evidence of anchoring at the entry point is found.
This research brief summarizes the impact of the Sarbanes-Oxley Act (SOX) on small firms based on a review of studies of relative compliance costs, stock-price reactions, and exit patterns from the public market.
This dissertation analyzes the combination of federal and investors' class actions to enforce federal securities laws, as well as how the Sarbanes-Oxley Act disrupts joint public and private litigation to discipline self regulatory organizations like the national stock exchanges, and the effects of these attempted reforms on the market.
This paper reviews the history of Chinese banking-system reform, examines recent government reform efforts, analyzes the current condition of major commercial banks, and considers issues and challenges presented by further reforms.