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2 results

Capital in Banking
  • The Role of Capital in Banking in the 19th and 20th Century: The United Kingdom, the United States and Switzerland
  • Simon Amrein
  • Published online:
    09 December 2024
    Print publication:
    23 January 2025
  • Capital in Banking traces the role of capital in US, British, and Swiss banking from the 19th to the 21st century. The book discusses the impact of perceptions and conventions on capital ratios in the 19th century, the effects of the First and Second World Wars, and the interaction of crises and banking regulation during the 1930s and the 1970s. Moreover, it emphasises the origins of the risk-weighted assets approach for measuring capital adequacy and explains how the 2007/2008 crisis led to a renaissance of unweighted capital ratios. The book shows that undisclosed reserves, shareholders' liability, and hybrid forms of capital must be considered when assessing capital adequacy. As the first long-run historical assessment of the topic, this book represents a reference point for publications in economics, finance, financial regulation, and financial history. This title is also available as Open Access on Cambridge Core.

  • 7 - Divided Ownership and Organization

  • Yoram Barzel, University of Washington, Douglas W. Allen, Simon Fraser University, British Columbia
  • Book:
    Economic Analysis of Property Rights
    Published online:
    17 August 2023
    Print publication:
    31 August 2023, pp 110-134

  • Summary

    When many individuals combine their inputs in production, common property problems arise. Often the use of low incentive wage contracts are necessary to mitigate overuse. However, such contracts mean that workers need direction from others. This is the seed of an organization. The central person in an organization must be able to bare the risks of their decisions, and so the owner of the organization is often the holder of the equity capital, which is used to convince others that they will not bear negative residuals.