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Dear Colleagues,

“A Saturday Evening Post editorial of December 28, 1928, glowingly described American bankers as the ‘stewards of our whole intricate credit system.’ Within a year the feelings of that esteemed journal’s editors had changed considerably.” Thus begins a special issue of Business Horizons, entitled The Politics of International Banking and Finance. Scholars from IPE, international business and financial economics explore three aspects of this broad area by focusing on what we term the “Three R’s”: Regulation, Relationships and Records. The papers are broad-ranging in scope and pull insights from many different literatures. Five research interviews with experts in investment banking, investment management and law provide insight into the politics of banking, high-frequency trading, cross-border investing and personal financial data. The table below provides you with thumbnails of papers and interviews from this special issue. Two-sentence summaries and hotkey links to the article are provided, as well as suggested citing and pedagogical possibilities.

Hoping that this information is of value to you,

Travis

https://www.researchgate.net/profile/W_Selmier_II/

*Politics of International Banking and Finance Business Horizons, Nov/Dec, 2013*
Paper/ Interview Title		1 to 2 sentence summary		Paper Author(s)	Citable?	Assignable
Regulation, Relationships and Records: Perspectives on the Politics of International Banking and Finance Guest Editor’s perspective W. Travis Selmier II
Financial System Fragility		A primer on financial crises present and past, Klemkosky lays out the range of reasons for financial bubbles and predicts where the next two might occur.		Robert C. “Buck” Klemkosky		U/G finance & executive MBA
Building China's top investment banking franchise: Do not become caught in ‘isms’— An interview with Ted Tokuchi		Considered China’s top investment banker, Ted Tokuchi is trilingual and tricultural [China, Japan, US]. He rejects “pre-conceived notions’- which he terms “Isms”- to argue for a global view of a global industry with global responsibility.			Cultural IB; cultural impacts in IPE; global banks’ corporate responsibility	U/G & MBA IB, management, executive MBA
SECTION I: INTERNATIONAL GOVERNANCE IN FINANCE – DOES IT EXIST?
Policy takers or policy makers? The lobbying of global banking regulators		“International regulatory forums are different than national regulatory forums in three ways: accountability, opacity, and remoteness.” Young explains that global banks have less policy influence than you might think.		Kevin Young	Governance & regulation in banking and finance	Traditional and executive MBA classes in finance and manage-ment
Doing right, investing right: Socially responsible investing and shareholder activism in the financial sector		Financial institutions can and should practice sound corporate social responsibility. Oh, Park and Ghauri explain the social and business reasons for CSR and provide two powerful examples from the world of banking.		Chang Hoon Oh, Jae-Heum Park, and Pervez N. Ghauri
High frequency trading and dark pools: An interview with John Succo		John Succo, a 30-year Wall Street veteran, argues high-frequency trading causes severe disruption to securities markets while dark pools are beneficial. A superb primer and critique by an expert who co-founded what became one the world’s largest derivatives-trading hedge funds.
Sabotage in the financial system: Lessons from Veblen		When Veblen analyzed American business practice a century ago and coined the term sabotage, his view was not necessarily negative. Nesvetailova and Palan explain huge financial firms, with powerful informational advantages and problems aligning incentives, create problems through sabotage.	Anastasia Nesvetailova, Ronen Palan
SECTION II: POLITICS, INVESTMENT, & BANKING FROM ASIAN PERSPECTIVES
Stand by me: Friends, relationship banking, and financial governance in Asia		Integrating ideas from banking, information economics and guanxi in Northeast Asia with personal anecdotes, Selmier argues that the tight ties of relationship banking may lead to better governance through netizens’ private monitoring efforts, especially in China.	W. Travis Selmier II		Governance & regulation in banking and finance, business ethics, Asian banking	Traditional and executive MBA classes in IB, banking and manage-ment
Political resistance in Chinese mergers and acquisitions: An interview with Ted Tokuchi		Tokuchi’s second interview examines the maturation of Chinese finance. He explains the political complications of M&A when one party is a Chinese firm (inward and outward M&A) and the increasing resistance to Chinese firms’ acquisitions of foreign target firms.			Cross-border M&A, FDI, Chinese banking
Foreign investors in Taiwan: Their roles and government perspectives		Lien, Tseng & Wu give us the inside view of the success story of Taiwan’s stock market liberalization. Linking history, financial economics and law, this is a valuable case study written by three heavily involved in the 20-year process.	Donald Lien, Ming-Chung Tseng, Soushan Wu		Financial market development, East Asian investment
Investing on the edge of the world: Sumiyuki Kazama on establishing capital markets in Myanmar		Myanmar, large, resource-rich and suffering from a tragic modern history, has been reengineering its financial markets since 1993 with the advice of Daiwa Securities. Kazama, Daiwa’s point man in Myanmar, traces the promise, challenge, and international politics of the last great frontier market.			Financial market and economic development, negotiation
SECTION III: WHY THE U.S. & EUROPE ARE FIGHTING OVER ACCESS TO PRIVATE FINANCIAL DATA
The cross-Atlantic tussle over financial data and privacy rights		Global banks’ IT strategies rely on anytime, anywhere access to their proprietary data. Selmier & Frasher introduce challenges to banking IT and privacy: governments want access, individuals have privacy law protection, and managing banking data has become more difficult.	W. Travis Selmier II, Michelle Frasher		Banking IT law, privacy law, government-business relations, cross-border management	Traditional and executive MBA classes in banking, business law, IT manage-ment
Differing views of privacy rights in the EU and US, and the resulting challenges to international banking: An interview with Joseph Cannataci		Cannataci provides a thirty-year sketch of IT law and explains banks’ frustrations in reconciling business operations with increasing government oversight. One of Europe’s top IT privacy lawyers and a financial security expert, he suggests what banks must consider when the needs of national security and banking IT management collide.
Adequacy versus equivalency: Financial data protection and the US–EU divide		Laws which do not meld across borders, bank holding company structure, and an American government monitoring private financial data for national security collide in Frasher’s analysis. An excellent introduction to the compliance and legal issues affecting cross-border transfer of private financial data.	Michelle Frasher
Notes:	1, hotkeys to papers lead to Business Horizons website. Pls log in through your institutional log-in codes. 2, “Assignable” is meant as guidance for your classes; class levels are proposed based on content. 3, “Citable” covers a range of target researcher topics; some papers may be too general for technically-oriented papers.