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
Citations
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Branch Banking, Bank Competition, and Financial Stability
TL;DR: The authors show that branch banking raises the level of competition and increases exit from the banking system, without necessarily strengthening the branch banks themselves, and that the effects that branching had on competition were quantitatively more important than geographical diversification for bank stability in the 1920s and 1930s.
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Banks without parachutes: Competitive effects of government bail-out policies☆
Hendrik Hakenes,Isabel Schnabel +1 more
TL;DR: In this article, the authors analyze the competitive effects of explicit or implicit protection of banks through government bail-out policies in two models with different degrees of transparency in the banking sector.
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Unemployment and Finance: How Do Financial and Labour Market Factors Interact?
Christophe Rault,Christophe Rault,Christophe Rault,Donatella Gatti,Donatella Gatti,Anne-Gaël Vaubourg +5 more
TL;DR: In this article, the authors investigate how labour and financial factors interact to determine unemployment by estimating a dynamic panel model using the system generalized method of moments (GMM) and show that the impact of financial variables depends strongly on the labour market context.
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Corporate Governance in Banks
TL;DR: A survey of the literature on corporate governance in banks in the US and international settings can be found in this paper, where the authors evaluate bank governance from three perspectives: (1) maximizing bank equity value, (2) maximizing total enterprise value, and (3) maximizing social objectives.
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Financing Patterns: Measurement Concepts and Empirical Results
TL;DR: In this paper, the authors compared and analyzed various ways of measuring financial structure and financing patterns and by demonstrating that the surprising empirical results found by studies that relied on net flows are due to a hidden assumption.
References
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Journal ArticleDOI
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.
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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.
Posted Content
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.
Posted Content
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.