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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Journal ArticleDOI
The effects of analysts’ tax expense forecast accuracy on corporate tax avoidance: An international analysis
TL;DR: This paper investigated whether the strength of investor protection impacts the relationship between analysts' tax expense forecast accuracy and tax avoidance and found that firms with high analysts' forecast accuracy engage in lower levels of tax avoidance than firms with low forecast accuracy; this relationship is greater for firms in countries with weaker investor protection.
BookDOI
Concentration in the Banking Sector and Financial Stability : New Evidence
Pietro Calice,Leone Leonida +1 more
TL;DR: In this article, a unified empirical framework was proposed to test for the simultaneous presence and impact of mediators through which concentration is expected to impact financial stability, and the results indicated that the magnitude and net effect of the mediators depend upon the level of concentration.
Journal ArticleDOI
Choosing the right financial system for growth
TL;DR: In this article, the authors use information about the financial systems of a large number of both developed and developing countries to examine various relationships between a country's financial structure and its overall economic performance.
Journal ArticleDOI
Financial Frictions, Investment, and Institutions
TL;DR: In this paper, the authors empirically investigate the effects of institutions on financial frictions using a panel of 75,000 firm-years across 48 countries for the period 1990 - 2007.
Book ChapterDOI
Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries
TL;DR: In this paper, the authors explore the question to what extent, if any, the institution of the stock market is likely to benefit the real economy in developing countries and aid their industrialization.
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.