Open AccessJournal Article
Comparing financial systems.
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This article is published in Kyklos.The article was published on 2000-01-01 and is currently open access. It has received 603 citations till now.read more
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Evidencia internacional sobre la infl uencia de los grandes accionistas en el riesgo corporativo
TL;DR: The relation existente entre la estructura de propiedad (posicion e identidad de los grandes accionistas) and the riesgo corporativo for una muestra de empresas de vein- tiun paises de la OCDE durante el periodo 2001-2008 was analyzed in this article.
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Monetary transmission, asset prices, and the business cycle indicator in Germany
TL;DR: In this article, the authors derived a complete characterization for the equilibria that may arise in a binary choice interaction model with a finite number of interacting agents and derived the correspondence between the interaction strength, the number of agents and the set of equilibra.
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Competition on Financial Markets : Does Market Design Matter?
TL;DR: In this paper, the authors present a take down policy to remove access to the work immediately and investigate the claim. But they do not provide details of the claim and do not discuss the content of the work.
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Deducing Varieties of Capitalism
TL;DR: This article deduced the structure of nations' capitalist institutions based on distributive welfare gains to those actors representing an economy's main factors of production, and derived seven capitalist ideal-types that fall along the LME-CME spectrum.
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Marchés obligataires et stabilité financière: L'expérience asiatique
TL;DR: In this article, the authors propose an empirique analysis of the relationship between the developpement des marches obligataires and the stabilite financiere of the region.
References
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Investor Protection and Corporate Governance
TL;DR: In this article, the authors argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems, and discuss the possible origins of these differences, summarize their consequences, and assess potential strategies of corporate governance reform.
Journal ArticleDOI
The Theory of Bank Risk Taking and Competition Revisited
John H. Boyd,Gianni De Nicolo +1 more
TL;DR: The authors show that existing theoretical analyses of this topic are fragile, since there exist fundamental risk-incentive mechanisms that operate in exactly the opposite direction, causing banks to become more risky as their markets become more concentrated.
Journal ArticleDOI
Bank concentration, competition, and crises: First results
TL;DR: In this paper, the impact of national bank concentration, bank regulations, and national institutions on the likelihood of a country suffering a systemic banking crisis was studied using data on 69 countries from 1980 to 1997.
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Competition and Financial Stability
Franklin Allen,Douglas Gale +1 more
TL;DR: The authors used a variety of models to address the question of what are the efficient levels of competition and financial stability, and found that different models provide different answers, and that sometimes competition increases stability, while in a second best world, concentration may be socially preferable to perfect competition.
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The Corporate Governance of Banks
Jonathan R. Macey,Maureen O'Hara +1 more
TL;DR: In this paper, the authors argue that commercial banks pose unique corporate governance problems for managers and regulators, as well as for claimants on the banks' cash flows, such as investors and depositors.