NEWSLETTER of December 17, 2021

The following content has been added at finexpert:

Deloitte
RESTRUCTURING REPORT 2021
The year 2020 was marked by the COVID 19 pandemic, and the pandemic will continue to be present in the first three quarters of 2021. In this year's Restructuring Report, Deloitte has taken a detailed look at the future economic developments of individual industries. We are particularly interested in the question of how these industries will continue to develop against the backdrop of an impending wave of restructuring. According to the experts surveyed, the automotive, tourism and stationary retail sectors will come to the fore in the short to medium term. Megatrends such as digitization, climate change and demographic change will also play a key role in changing the restructuring environment. >more

Squire Patton Boggs
SURGING AHEAD: M&A OUTLOOK 2022 AND BEYOND
Mergermarket is pleased to present the Surging Ahead: M&A Outlook 2022 and beyond, published in association with Squire Patton Boggs. The report reveals that M&A activity bounced back with huge resilience in the first three quarters of 2021, and looks ahead to the question of whether this remarkable recovery in dealmaking can be sustained. >more

EY
EIGHTH GLOBAL CORPORATE REPORTING SURVEY
The requirement for CFOs and finance leaders to shift the quality and scope of corporate reporting – or enhanced corporate reporting – is the theme of the 2021 EY Global Corporate Reporting Survey, which examines the perspectives of more than 1,000 CFOs, financial controllers and other senior finance leaders. The data is available to explore in an interactive tool, which allows you to view and compare findings across countries and industries. >more

Bank for International Settlements
BIS QUARTERLY REVIEW: DECEMBER 2021
The BIS Quarterly Review examines developments in international banking and financial markets. This issue of the BIS Quarterly Review analyses non-bank financial intermediation, including mechanisms that could undermine financial stability. It focuses on decentralised finance, open-ended bond funds, NBFIs in emerging Asia, private markets and sustainable investing. >more

FLIGHT TO SAFETY: HOW ECONOMIC DOWNTURNS AFFECT TALENT FLOWS TO STARTUPS
Shai Bernstein, Richard Townsend, and Ting Xu
2021
Using proprietary data from AngelList Talent, we study how individuals' job search and application behavior changed during the COVID downturn. We find that job seekers shifted their searches toward more established firms and away from early-stage startups, even within the same individual over time. Simultaneously, they broadened their other search parameters. Relative to more established firms, early-stage startups experienced a decline in applications, primarily driven by higher-quality candidates. These declines hold within a firm as well as within a job posting over time. Our findings uncover a flight to safety channel in the labor market, which may amplify the pro-cyclical nature of entrepreneurial activities. >more

COVID, WORK-FROM-HOME, AND SECURITIES MISCONDUCT
Douglas J. Cumming, Chris Firth, John Gathergood, and Neil Stewart
2021
We consider whether traders are more likely to commit securities violations when trading at home, a new form of working induced by the COVID pandemic. We examine data pre- and post-COVID, during which some traders were unexpectedly forced to work at home. The data indicate the presence of both a treatment and a selection effect, where work at home exhibits fewer misconduct cases. Work at home is associated with fewer cases of trading misconduct, although no difference in communications misconduct. The economic significance of working from home on trading misconduct is large for both the treatment and selection effects. >more