Annotated Bibliography: Financial Crisis

Jackson, J., K. (2010). Financial Crisis: Impact on and Response by the European Union.

Darby: DIANE Publishing.

According to Jackson, the overall global micro policies and the poor regulatory weak framework at local and regional levels did certainly play important role in the financial crisis that occurred from 2007 and deepened in 2008. There have been huge regulatory changes in a bid to stop the effects of the financial crisis, to lower leverages and to better the liquidity ratios. The financial crisis originated from the US and was caused by the residential properties that experienced a down turn in their value which plunged the rest of the economy into the huge crisis. This research was very instrumental in understand the ideas as well as the major financial policies and fiscal implementation strategies that were designed and revolutionized in a bid to save the economy of the US government.

Moles, P., (2011). Corporate Finance Wiley Desktop Editions Series. Hoboken: John Wiley

& Sons.

This is a book which is essential in understanding the concept of leadership in financial industry. It is has a didactic clear structure and provides the state of art research driven overview. The author provides insights into various aspects of essential; leadership tools and modern leadership. The book provides various scenarios, which are useful in understanding, adapting and testing leadership theories in real leadership decision. It provides readers with intensive training in the processes of decision making regarding leadership situations.  It is thought provoking for practitioners in leadership roles. The approaches and concepts explored in the book lend themselves to direct application to workplace. It is a crucial text for ethical leadership an essential aspect of academic and professional development.

Kates, S., (2011). The Global Financial Crisis: What Have We Learnt? Camberley:

Edward Elgar Publishing.

This book analyses the financial crisis that was the second greatest after the great recession before the World War II began in 2007 and it did spread at a greater pace in 2008. According to the authors, it had catastrophic effects to some developed countries and majority of the multibillion dollar worth companies had a share of the drastic effects of the financial crisis. The efficacy to withstand the deteriorating financial instability was vested within the companies’ risk management programs that crumbled helplessly when the crisis was at its apex in the mid of 2008 and as progressed to maturity, major companies and businesses in the US were forced to change their strategic operational plans and some went way out of the legal scope in the bid to salvage the economic meltdown that saw companies being bailed out by the government, and others being sold in the helpless last minute resort to salvage the meager market worth level that they had been reduced to. The effects in the US were far reaching as it is a very developed county and its debt issue deepened the financial crisis dilemma. The measures to deal with the financial crisis included improving liquidity, reduction of leverage and better risk management programs.

Stockman, D., A. (2013). Great Deformation. New York: Perseus Books Group Publishers.

This research was instrumental in realizing the root cause of the financial crisis. According to the author, the problem with the financial crisis management is that there existed little knowledge and information being passed between the financial economists and the policy makers who lacked sufficient technical know-how about the economic policies and the regulations that subsequently come with its implementation. It is very crucial and important to know the link between macro-prudential policies and monetary policies in the assisting of financial stability.  The author notes that the designing process of an effective and successful macro-prudential policy needs the government to know the risks involved in the financial instruments that it’s implementing, and to ensure that the procedure it undertakes is legally acceptable and has very few political involvement; as this will lead to changes in the legal aspects when the matters get to the point where legal practitioners team up with politicians to frustrate economic policies for their own personal or impersonal agendas.

Alloway, T. (2009, July 28). Accounting is semi-annually exonerated from causing crisis.
Financial Times. Retrieved from http://ftalphaville.ft.com/blog/2009/07/28/64136/accounting-semi-officiallyexonerated-from-causing-crisis/

Tracy in her journal points out that accounting standards were not the reason that caused the financial crisis nevertheless she says that the crisis exposed the weaknesses in accounting standards and also their application. The FCAG has then come up with, recommendation of solving the said weaknesses. According the group it advises the government to undertake the adoption of IFRS by giving reasons. The journal has useful information on the reason why the IFRS should be adopted in the US additionally; it is useful for further studies.