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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Accounting Information Quality, Interbank Competition, and Bank Risk-Taking
TL;DR: In this paper, the interaction between interbank competition and accounting information quality and their effects on banks' risk-taking behavior was studied, and it was shown that improving information quality increases risk taking with mild...
Journal ArticleDOI
Debt ownership structure and legal system: an international analysis
TL;DR: In this article, an attempt is made to identify the factors affecting bank debt use from an international sample of companies from Austria, Germany, Japan, Belgium, France, Italy, Holland, Spain, Portugal, Finland, Sweden and the USA.
Posted Content
Welfare Gains from Financial Liberalization
Kenichi Ueda,Robert M. Townsend +1 more
TL;DR: This work takes the view that financial liberalization is a government policy that alters the path of financial deepening, while financial deepening is endogenously chosen by agents given a policy and occurs in transition towards a distant steady state.
Posted Content
Blockholders' Ownership and Audit Fees: The Impact of the Corporate Governance Model
TL;DR: In this article, the authors examine how two prominent corporate governance models, namely the shareholder and stakeholder models, have different effects on the relation between agency conflicts and the supply, and demand of audit services.
Journal ArticleDOI
Is There a Competition-Stability Trade-Off in European Banking?
Aurélien Leroy,Yannick Lucotte +1 more
TL;DR: In this article, the relationship between competition and bank risk was investigated across a sample of 54 European listed banks over the period 2004-2013, and it was shown that weak competition tends to increase the correlation in the risk-taking behavior of banks.
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.
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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.
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.