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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Why Do Financial Systems Differ? History Matters
Cyril Monnet,Erwan Quintin +1 more
TL;DR: In this article, the authors describe a dynamic model of financial intermediation in which fundamental characteristics of the economy imply a unique equilibrium path of bank and financial market lending, and they also show that economies whose fundamental characteristics have converged may continue to have very different financial structures.
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Bank Competition: Measurement, Decision-Making, and Risk-Taking
TL;DR: In this article, a text-based measure of competition, and an instrumental variables analysis that exploits exogenous variation in bank deregulation are used to investigate whether greater competition increases or decreases individual bank and banking system risk.
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Setting the pace?: Private financial interests and European financial market integration
TL;DR: In this paper, the authors examined the preferences of national financial interest groups in Germany and the UK in shaping national input and, more precisely, the contributions given by the relevant public authorities to EU and international policy-making processes.
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Network Constraints in EU Banking Regulation: The Capital Requirements Directive
TL;DR: In this article, the authors investigate the influence of broker roles and extroversion in the policy making process and find that influential actors are those that hold key structural positions in this network and by implication appear to have a better understanding of network topography.
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Accounting, prudential regulation and financial stability : elements of a synthesis
Claudio Borio,Kostas Tsatsaronis +1 more
TL;DR: In this paper, the authors outline the contours of an ideal set of such information, identify existing gaps and propose a way forward to fill them, and stress that close cooperation between accounting standard setters and supervisory authorities is called for both in developing the final set of information and in implementing it.