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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The Impact of Financial Structure on Firms' Financial Constraints: A Cross-Country Analysis ✩
TL;DR: In this article, the authors estimate firms' cash flow sensitivity of cash to empirically test how the financial system's structure and activity level influence their financial constraints, and they find that both the structure of financial system and its level of development matter.
Journal ArticleDOI
Liquidity Creation, Investment, and Growth
Thorsten Beck,Thorsten Beck,Thorsten Beck,Robin Döttling,Robin Döttling,Thomas Lambert,Thomas Lambert,Mathijs A. Van Dijk,Mathijs A. Van Dijk +8 more
TL;DR: This paper showed that liquidity creation is positively associated with economic growth at both country and industry levels, and that low asset tangibility hampers liquidity creation by exacerbating moral hazard problems.
Journal ArticleDOI
Interrelationships among banks, stock markets and economic growth: an empirical investigation
Dong Hyeon Kim,Shu Chin Lin +1 more
TL;DR: In this paper, a simultaneous equations model was used to study the relationship among economic growth, banking and stock market development, and the authors implemented the analysis via the methodology of identification through heteroscedasticity.
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Exploring short‐ and long‐run links from bank competition to risk
E. Philip Davis,Dilruba Karim +1 more
TL;DR: In this article, both short and long-run relationships for banks from 27 EU countries, using a six-year period before and since 2007 and employing both the H•statistic and the Lerner index as measures of competition, were investigated.
Posted Content
Varieties of Capitalism in France: Interests, Institutions, and Finance
TL;DR: The authors argue that the new found political power of labor and farmers caused the switch from market-dominated finance to banking-dominance following the war, with political institutions enabling and cementing these new practices.
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.