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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Market-Based Housing Finance Efficiency in the Czech Republic
Petr Sunega,Martin Lux +1 more
TL;DR: In this paper, the authors analyse housing finance efficiency in the Czech Republic, especially so-called "intermediation efficiency", which applies to a set of institutiona cation efficiency measures.
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The Impact of Institutional Investors on Equity Markets and Their Liquidity
TL;DR: In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website as mentioned in this paper, in case of legitimate complaints the material will be removed.
Posted Content
Government Policy and Ownership of Financial Assets
TL;DR: This article showed that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax-deferred plans, which is important for policy considerations on effective taxation and for financial economics research on the longterm effects of taxation on corporate finance and asset prices.
Journal ArticleDOI
The Impact of Commercial Banking Development on Economic Growth: A Principal Component Analysis of Association Between Banking Industry and Economic Growth in Europe
TL;DR: In this paper, the authors identify the relationship between commercial banking development and economic growth in Eastern Europe and conclude that policies that liberalise banking to include more branches and ATMs, thus creating greater access, could spur greater growth in emerging economies like those of Eastern Europe.
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Understanding Bank Runs: Do Depositors Monitor Banks?
TL;DR: In this article, the authors use unique, depositor-level data for a bank that faced a run and was placed in receivership to study whether depositors monitor banks and find that depositors with uninsured balances, with loan linkages and staff of the bank are far more likely to withdraw in response to the shock.
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.
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.