Corporate benefit in financial transactions: a policy perspective

Article Abstract:

An examination of leading cases concerning issues of corporate benefit in financial transactions, despite having inconsistent rulings, show that the policy considerations governing said cases suggest consistency. There are two general trends of policy, the first being courts hesitate to authorize guarantees and other corporate dispositions wherein a controlling third party will benefit or have adverse effects on minority shareholders and unsecured creditors. The other trend is that if transactions of a firm in favor of a financier benefit a third party, courts will only allow the financier to make the common law and statutory assumptions of regularity.

Legal Protection, Human resource management, Corporate counsel, Courts

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The Wallis report

Article Abstract:

The recommendation given by the final report of the Financial System Inquiry, dubbed the Walls Report which was released in April 1997, fall into three categories. These are recommendations concerning electronic commerce, the establishment of new regulators and consideration of mergers and acquisitions. The Inquiry finds that in order for electronic commerce in Australia to advance further, significant legislative changes are needed, especially in the facilitation of cryptography and digital signatures.

Acquisitions and mergers, Electronic commerce, E-commerce

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Swap credit risk: an empirical investigation on transaction data

Article Abstract:

The problem of pricing swap credit risk has been addressed in only a few papers such as Sun et al. (1993) and Chen and Selender's (1995) unpublished works. The absence of empirical literature addressing the problem has necessitated the gathering of information, in addition to swap quotes, such as credit risk spreads on transaction data. Results show that credit ratings have significant influence on swap spreads for both interest rate swaps and currency swaps.

Research, Risk assessment, Derivatives (Financial instruments), Swaps (Finance)

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