Abstract

This paper looks at some longstanding underpinnings of some innovational management problems in Bulgarian mass equities markets: factors that helped turn the recent lapses of bankers, rating agencies, and mortgage brokers into a crisis of extraordinary proportions and scope. Finance, I will argue, has been on the wrong trajectory for more than half a century. Its defects derive from academic theories and regulatory for more than half a century.  Its defects derive from academic theories and regulatory structures whose origins date from 1970s, which encouraged financiers to rely on blind diversification as a substitute for due diligence and ongoing relationships.  

Keywords: Bulgarian mass equities markets, innovational management, banks, securitization

Cite as: Petkova-Georgieva, S. (2011). Innovational management problems on Bulgarian mass equities markets. Marketing and Management of Innovations, 42, 137-140. https://doi.org/10.21272/mmi.2011.4.2-18

This work is licensed under a Creative Commons Attribution 4.0 International License

References

1. Acharya Viral V. How Banks Played the Leverage Game / V. Viral Acharya, Philipp Schnabl // Restoring Financial Stability: How to Repair a Failed System. – New York : Wiley, 2009.
2. Bhide Amar. Insiders and Outsiders [Elekronniy resurs] / Bhide Amar. – 2008. – 25 September. Rezhim dostupu: Forbes.com.
3. Eichengreen Barry. Origins and Responses to the Crisis / Barry Eichengreen. – Univesity of California, Berkeley, 2008.
4. Kay John. The Long and the Short of It: A Guide to Finance and Investment for Normally Intelligent People Who Aren’t in the Industry / John Kay. – London : Erasmus Press. 2009.
5. Lux Thomas. Economics Crisis / Lux Thomas, Frank Westerhoff. – Amsterdam : Nature Physics, 2009.
6. Raghuram Rajan. Has Financial Development Made the World Riskier? / Rajan Raghuram // European Financial Management. – 2006. – I 2. – R. 313-364.
7. Solow Robert. Reflections on the Survey / Robert Solow // The Making of an Economist. – Redux. Princeton : Princeton University Press, 2008.