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.
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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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Is the International Convergence of Capital Adequacy Regulation Desirable
TL;DR: In this paper, the authors analyze the joint design of two bank regulatory mechanisms: minimum capital requirements, which are an ex-ante mechanism to prevent bank failures, and closure policy, which is an expost mechanism to manage the cost of bank failures.
Posted Content
Financial Development: Structure and Dynamics
TL;DR: This paper analyzed the bright and dark sides of the financial development process through the lenses of the four fundamental frictions to which agents are exposed -information asymmetry, enforcement, collective action, and collective cognition.
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Are changes in financial structure extending safety nets
TL;DR: This paper examined the rationale for government intervention (use of safety net instruments) to reduce the costs of such financial instability, and cautiously concluded that the use of a number of such instruments has been on the rise.
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Regional Integration Challenges in South East Europe: Banking Sector Trends
George Stubos,Ioannis Tsikripis +1 more
TL;DR: In this paper, the authors present a review and evaluation of the institution-building process in the transition countries of Southeast Europe, focusing on the development of the banking sector, arguing that banking sector development plays an integral and pivotal role in the successful completion of the transition process.
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Capital structure and institutional setting: a decompositional and international analysis
TL;DR: This article analyzed firms' capital structure in an international framework in order to assess the different level of debt use across countries and to identify both common and differential explanatory factors, and found that the legal and institutional system of each country does not only affect firms’ capital structure but also creates the conditions to explain a differential effect of the common determinants of firms' financial choices.