POST-CRISIS SECURITIES MARKET SUPERVISION POLICIES – STANDARD FINANCE VERSUS BEHAVIOURAL FINANCE
Published In: INTERNATIONAL CONFERENCE ON ADVANCES IN ECONOMICS, SOCIAL SCIENCE AND HUMAN BEHAVIOUR STUDY
Author(s): IAN EDDIE , JINGHUI LIU , PHUONG DUONG
Abstract: the objective of this paper is to analyze the imprints of standard finance and behavioral finance on Securities Market Supervision (SMS) policies before the 2008 Global Financial Crisis (GFC) and to discuss the question why the SMS policies should adopt behavioral finance as a response to issues identified from the crisis. Standard finance has been the most influential theoretical underpinning for securities market supervision before the 2008 GFC. The philosophy of securities market supervision has for long time relied on the notions of Efficient Market Hypothesis (EMH) and Capital Asset Pricing Model (CAPM). Relying on standard finance, securities regulators believed that market is efficient and investors are rational. Therefore securities markets were let to regulate themselves. Emerging behavioral finance provided a different insight, which argues that market is not efficient and investors are bias due to their cognitive errors. The debate between two economic theories seemed endles
- Publication Date: 22-Feb-2015
- DOI: 10.15224/978-1-63248-041-5-56
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ECONOMIC INEQUALITY AND REVOLUTIONS: A SURVEY OF SOCIO-ECONOMIC FACTORS OF THE ARAB SPRING: CASE OF THE TUNISIAN REVOLUTION
Published In: INTERNATIONAL CONFERENCE ON ADVANCES IN ECONOMICS, SOCIAL SCIENCE AND HUMAN BEHAVIOUR STUDY
Author(s): MOHAMED EL HACEN SIDI
Abstract: The pro democracy revolution starting from Tunisia has swept many regional regimes since 2011. Because of the uprising, the status quo of political and economic structure of these states has been broken. In this study, the variables that fostered revolt in Tunisia are under the focal lens. Semi-structured interviews and content analysis have been adopted as tools to achieve the research objectives. Through analysis, it is found that though Tunisia has enjoyed good GDP and economic return over the years, yet the wealth remained in the hands of few and most of the people are left to face abject poverty and deprivation. Unemployment, corruption, human right violations and constrains on civil liberties have forced the people to rise against regime. Moreover information technology has played the role of facilitator, which was used by protestors to organize against government.
- Publication Date: 22-Feb-2015
- DOI: 10.15224/978-1-63248-041-5-57
- Views: 0
- Downloads: 0