Access the full text.
Sign up today, get DeepDyve free for 14 days.
M. Petitjean (2012)
Bank Failures and Regulation: A Critical ReviewMonetary Economics eJournal
Omri Marian (2017)
The State Administration of International Tax AvoidanceComparative Political Economy: Fiscal Policy eJournal
Central Bank of Ireland Quarterly Bulletin, Q4
Central Bank Quarterly Bulletin
Brian Godfrey, Neill Killeen, K. Moloney (2015)
Data Gaps and Shadow Banking:Profiling Special Purpose Vehicles’Activities in IrelandQuarterly Bulletin Articles
Mei Feng, J. Gramlich, Sanjay Gupta (2009)
Special Purpose Vehicles: Empirical Evidence on Determinants and Earnings ManagementThe Accounting Review, 84
Tax Planning International, European Tax Service, 14
B. Cream, F. Eggemeier, G. Klein (1978)
A Strategy for the Development of Training DevicesHuman Factors: The Journal of Human Factors and Ergonomics Society, 20
Bloomberg
Elias Bengtsson (2016)
Investment funds, shadow banking and systemic riskJournal of Financial Regulation and Compliance, 24
PurposeThe purpose of this paper is to study financial vehicle corporations (FVCs) and other special purpose vehicles (SPVs) in Ireland.Design/methodology/approachThe paper is based on a database of FVCs that are a central part of the shadow banking sector in Ireland. The database is derived from a European Central Bank (ECB) list of securities and from filings in Company Registration Office, Dublin.FindingsTax concessions are very valuable and has resulted in zero or close-to-zero effective tax rates. Although described as “bankruptcy remote”, FVCs/ SPVs in Ireland are associated with several banks that failed. Central Bank data are inconsistent with revenue data and have resulted in regulatory gaps. The main economic benefit to Ireland consists of payments to certain service providers.Research limitations/implicationsA complete population of FVCs/SPVs has not been used. Ownership of FVCs/SPVs has not been identified with consequent implications for identifying risk to the sponsoring firm or guarantor.Practical implicationsThe study indicates data deficiencies in Central Bank data, with consequent implications for regulation and measuring the size of the shadow banking sector, and failure of FVCs/SPVs described as bankruptcy remote.Social implicationsThe shadow banking sector has been a key source of instability and risk transference in the recent past. Research and understanding is vital to prevent a future occurrence.Originality/valueThere are no publicly available databases of individual FVCs/SPVs in Ireland. Hence, research on granular data is limited. The study develops a database derived from lists of securities published by the ECB. The study also relies on a database derived from company house records.
Journal of Financial Regulation and Compliance – Emerald Publishing
Published: Nov 13, 2017
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.