Provide a compelling conclusion to my thesis which answers beyond Essay

Provide a compelling conclusion to my thesis which answers beyond doubt the question, - Essay Example ce the early 1980s may have made it more likely that financial factors in general, and the booms and busts in credit and asset prices in particular, act as drivers of economic fluctuations; as a result, the current environment may be more vulnerable to the occasional build-up of financial imbalances†. Because of the above turbulences, the strategies followed by the companies regarding the security of their assets have to be formulated accordingly. The impact of globalization in this case is extensive. As Stiglitz (2004, 57) states â€Å"one of the most controversial aspects of globalization is capital-market liberalization—not so much the liberalization of rules governing foreign direct investment, but those affecting short-term capital flows, speculative hot capital that can come into and out of a country†. However, despite the existence of common rules in the regulation of financial markets internationally, each country follows its own regulations in all issues related with commercial activities. International rules can have just a ‘supplementary’ role and only in cases where there is no appropriate national framework of rules regulating the commercial activities in all their aspects. Regarding this issue it has been supported by Pagano et al. (2001, 502) that â€Å"the regulations that shape the design and operations of corporations and credit and securities markets differ vastly from country to country while even similar regulations are often unequally enforced in different countries; economists still have an imperfect understanding of why these international differences exist and of whether they tend to persist over time†. On the other hand, the existence of these differentiations could be limited because of the existence of Internet which impose specific rules and principles on the transactions made. The structure of business operations can be also influenced in case that a particular business operates online. Indeed, the study of Ellam et al. (2002,