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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Journal ArticleDOI
Mass Privatisation, Corporate Governance and Endogenous Ownership Structure
TL;DR: In this article, the authors compare the change in ownership concentration in firms privatized through two different programs of mass privatization: the Czech voucher scheme and the Polish program of National Investment Funds.
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Bank Deposits and the Stock Market
TL;DR: The authors showed that households' demand for retail deposits decreases during stock market booms, which induces a contraction in bank lending and a decrease in real activity at bank-dependent firms, and identified this channel using geographic heterogeneity in households' stock market participation.
OtherDOI
Financial structure, economic growth and development
TL;DR: In this article, the influence of financial structure on economic growth is dependent on the overall development of the real economy and institutions and the association is also different during crisis periods and non-crisis periods.
Posted Content
Moral Hazard and Debt Maturity
TL;DR: In this paper, the authors present a model of the maturity of a bank's uninsured debt and characterize the conditions under which short-term and long-term debt are feasible, and show circumstances under which only short-short debt is feasible and under which both are feasible.
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Re-Examining the Finance-Growth Relationship for a Developing Economy: A Time Series Analysis of Post-Reform India
Sabyasachi Kar,Kumarjit Mandal +1 more
TL;DR: In this paper, the authors re-examine the validity of three propositions on the finance-growth relationship: financial deepening has a strong impact on the growth process, measures of financial activity rather than the size of the sector plays a more significant role in the growth, and financial structure (bank-based versus stock market-based) has no impact at all.