Introduction

Andrew Kakabadse and Nada Kakabadse
Additional contact information
Andrew Kakabadse: Cranfield University
Nada Kakabadse: Northampton University

A chapter in Global Boards, 2009, pp 1-8 from Palgrave Macmillan

Abstract: Abstract Triggered by the mounting defaults of US housing loans, the autumn of 2008 witnessed a breathtaking global financial meltdown. Financial institutions turned to their Central Banks for short-term assistance as well as to Asian and Middle Eastern sovereign-wealth funds for equity injections. With these initial inputs of capital not having had the desired effect, the US and other Western governments provided additional substantial capital through stock acquisition, in effect nationalising the financial system. House prices, currency values, commodity values and commodity prices all speeded downwards. Economic downturn and recession became the reality of western and many developing economies. With the Federal Reserve (i.e., the Fed) and the Bank of England adopting an aggressive policy of “quantitative monetary easing measures” (QMEM), in effect printing dollars and pounds sterling, the economic outlook for the next years looks dark especially with the deluge of paper that is to enter the money market (Khaleej Times, 2008a, p. 33).

Keywords: Corporate Governance; House Price; Board Member; Board Director; International Joint Venture (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25051-2_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230250512

DOI: 10.1057/9780230250512_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().