Purpose – The purpose of this paper is to connect the dots between subprime mortgage lending and the financial crisis of 2008. Design/methodology/approach – Descriptive analysis of structured securities. Findings – The innovation of structured securities was incorrectly implemented in the...

Purpose – The purpose of this paper is: to detail the importance of corporate governance to institutional investors; to describe the tension created by their desire to earn extra revenue from stock lending; and to outline the challenges to corporate governance presented by the subsequent lack...

The paper makes use of an Imperfect Knowledge Economics (IKE) approach to examine the rationale and scope of state intervention in asset markets. IKE recognizes that policy officials and market participants must cope with ever-imperfect knowledge of the causal mechanism driving market outcomes....