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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Setting the pace?: Private financial interests and European financial market integration
TL;DR: In this paper, the authors examined the preferences of national financial interest groups in Germany and the UK in shaping national input and, more precisely, the contributions given by the relevant public authorities to EU and international policy-making processes.
Journal ArticleDOI
Network Constraints in EU Banking Regulation: The Capital Requirements Directive
TL;DR: In this article, the authors investigate the influence of broker roles and extroversion in the policy making process and find that influential actors are those that hold key structural positions in this network and by implication appear to have a better understanding of network topography.
Journal ArticleDOI
Accounting, prudential regulation and financial stability : elements of a synthesis
Claudio Borio,Kostas Tsatsaronis +1 more
TL;DR: In this paper, the authors outline the contours of an ideal set of such information, identify existing gaps and propose a way forward to fill them, and stress that close cooperation between accounting standard setters and supervisory authorities is called for both in developing the final set of information and in implementing it.
Posted Content
Capital Adequacy Regulation: In Search of a Rationale
Franklin Allen,Douglas Gale +1 more
TL;DR: In this paper, the authors argue that, in the absence of a welfare-relevant pecuniary externality, banks will choose the socially optimal capital structure themselves, without government coercion.
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The One Share - One Vote Debate: A Theoretical Perspective
Mike Burkart,Samuel Lee +1 more
TL;DR: In the presence of a controlling shareholder, one share - one vote promotes value-increasing control transfers and deters value-decreasing control transfers more effectively than any other vote allocation as mentioned in this paper.
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.
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.
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.