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
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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.
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Law, Finance, and Economic Growth in China
TL;DR: Li et al. as discussed by the authors examined three sectors of the economy: the State Sector (state-owned firms), the Listed Sector (publicly listed firms), and the Private Sector (all other firms with various types of private and local government ownership).
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.
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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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How Law and Institutions Shape Financial Contracts: The Case of Bank Loans
TL;DR: In this article, a multi-dimensional empirical model was proposed to study how financial contracts respond to the legal and institutional environment, showing that loans with strong creditor protection have concentrated ownership, long maturity and low interest rates.
References
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Proceedings Article
Stock market volatility and earnings management- An empirical study on China regional data
Jing Long,Yanxi Li +1 more
TL;DR: Wang et al. as discussed by the authors empirically studied the influence of stock market volatility and regional effect on earnings management of 1024 listed firms from 2007 to 2008, and found that even stock market market volatility has a reversing-U curve relationship with earnings management, especially in China's eastern area.
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Strategic Behavior in Capital Markets and Asset Prices
TL;DR: In this paper, the impact of the degree of concentration of a financial system on the aggregate demand for housing as well as the feedback effect of the size of the mortgage loan market on lenders’ profits, internal capital accumulation, loan losses and potential bailouts was studied.
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Direct Shareholder Control, Board Independence and Firm Value
TL;DR: In this paper, the authors argue that if the shareholders or the CEO of a firm can easily recruit a highly independent board, the value of the firm may be higher when the shareholders do not have power to change the CEO's decision directly.
Journal ArticleDOI
Accounting Information Quality, Capital Requirements, and Banks' Risk Taking
TL;DR: In this paper, the implications of accounting information quality on banks' risk-taking behavior were studied and it was shown that the accounting information precision has a non-monotonic effect on risk taking decisions.
Estabilidad financiera y dominancia de balanza de pagos: evidencia para América Latina
Lacouture Daza,Daniel Felipe +1 more
TL;DR: In this paper, the authors evaluate the relationship between the dominancia de balanza de pagos and the estabilidad financiera a nivel de banco for varios paises de America Latina.