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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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
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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BookDOI
The Roles of Banks in Financial Systems
Franklin Allen,Elena Carletti +1 more
TL;DR: Berger, Molyneux, and Wilson as discussed by the authors reviewed the role of banks in the financial system and the relative importance of different roles of banks varies substantially across countries and times.
BookDOI
How does bank competition affect systemic stability
TL;DR: This paper examined the relationship between competition and the absolute level of risk of individual banks and found that greater competition encourages banks to take on more diversified risks, making the banking system less fragile to shocks.
Journal ArticleDOI
A New Test of Capital Structure
TL;DR: In this article, the authors report results of a new test of the financing of large and indivisible projects -the focus of most capital structure theory -and find that projects are predominantly financed with debt, particularly in large and profitable firms.
Journal ArticleDOI
Understanding Corporate Governance Reform in South Africa Anglo-American Divergence, the King Reports, and Hybridization
TL;DR: In this paper, the authors investigated corporate governance reform in South Africa in the context of the country's international links with Anglo-American corporate governance and domestic pursuit of socioeconomic development and two key questions are evaluated.
Posted Content
Bank Competition and Financial Stability: Evidence from the Financial Crisis
TL;DR: This paper examined the link between bank competition and financial stability using the recent financial crisis as the setting and found that states with less competition had higher rates of mortgage approval, experienced greater housing price inflation before the crisis, and a steeper housing price decline during it.