United Kingdom and Japan. The leading indices of these stock markets are used as proxies of the market. The period of analysis is being divided into three sample period; the pre-crisis period spans from January 10‚ 2005 to July 22‚ 2007‚ during the crisis period spans from July 29‚ 2007 to January 10‚ 2010 and post-crisis period spans from January 11‚ 2010 until recently July 21‚ 2011. As for the methodology‚ the study conducted Augmented Dickey Fuller (ADF) and Phillip Pheron (PP) tests as prelimenary
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Introduction The Asian financial crisis in the middle of 1997‚ which is started in Thailand‚ spread to others countries in Southeast Asia Region. According to Investopedia‚ financial crisis is certain circumstances which the value of financial institutions and assets drop rapidly. So‚ the investors will sell off assets or withdraw money from saving account. The financial crisis can cause the economy in to recession or downturn.1 This financial crisis immediately has impacts to the financial market that includes
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to the public. Nearly five thousand banks failed in the U.S. during the Great Depression. As a result of that most people wouldn’t trust the U.S. financial structure anymore. In order to rebuild the economy and trust a dramatic change had to be made (NYTIMES‚ 2010). Glass-Steagall Act of 1933 As a response to one of the biggest financial crisis at the time two members of the Congress‚ a former Treasury secretary named Carter Glass and Henry Steagall‚ who was a chairman of the House Banking
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Organizations and Society journal homepage: www.elsevier.com/locate/aos The economic crisis and accounting: Implications for the research community Anthony G. Hopwood * Saïd Business School‚ University of Oxford‚ Park End Street‚ Oxford OX1 1HP‚ United Kingdom a r t i c l e i n f o a b s t r a c t Introducing a group of essays and articles on the implications of the current economic and financial crisis for accounting practice and research‚ this article provides an overview of some of the
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downturn in the US‚ as a result of the Global Financial Crisis has had significant effects on other world economies. Over the 100 years ago‚ the world economy has been going through‚ more or less continuously‚ a series of strains and stresses in the current wave of globalization. Until recently‚ however‚ most of the downside risks of globalization have been borne largely by the developing world. The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007
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apparent in western society‚ it could almost be described as being imminent. Throughout the past 40 or so years neoliberalism has dominated the governments‚ housing‚ technology and financial sector and has impacted on society in destructive ways. The contemporary peak of neoliberalism arises in terms of the 2008 financial crisis and lingering state of recession in its aftermath. Neoliberalism defined by Harvey (2005) is a model of capitalism which focuses on the economy and its deregulation to enable
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What Causes an Economic Downturn? The financial crisis is still the cause of the economic downturn. Depending on which experts you choose to believe‚ the current state of economy was first cyclical than secular (Leonhardt‚ 2011). This resulted in both crisis being opposing destructive financial forces. The current global financial crisis begins with worthless subprime mortgages and the banking systems cease to cooperate with each other. The failure on Wall Street when the realization those
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Content Introduction………………………………………………………………………….3 The effects of the 2008 financial crisis on the global automobile industry……….3 The global strategies of Ford Motor and Nissan after the Recession…………......4 Benefits and limitations of Ford Motor’s and Nissan’s strategies………………...5 Short-term profitability…………………………………………………………..5 Long-run stability……………………………………………………………..6 Conclusion……………………………………………………………………………6 Introduction The notion of “Global strategy”‚ in international
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interesting pathway to understand the genesis of World War I. By choosing the agent-based approach and breaking with illustrations of the narrative perspective in Part II‚ the historian unquestioned contributes to see the complexity of the 1914 crisis‚ which he described as „the most complex [event] of modern times‚ perhaps of any time so far“. Arguing‚ that the events of 1914 only make sense‚ by focussing on the question „how“ World War I happened‚ in oder to „illuminate the journey travelled
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few years we have witnessed the financial gap between wealthier and middle-class Americans widen as the years go by‚ but never as rapidly than after experiencing the last financial crisis of 2008. The effects of that financial crisis were disastrous‚ especially in the middle class. Americans lost millions of jobs‚ and wealth evaporated by the loss in value of real estate properties
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