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.
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.
Journal ArticleDOI
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.
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Posted Content
Report on the Financial System in Portugal
TL;DR: In this paper, a documento elaborado e integrado no Projecto FESSUD, University of Leeds, projecto fundado pela Uniao Europeia is presented.
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How do mega-bank merger policy and regulations contribute to financial stability? Evidence from Australia and Canada
TL;DR: Although the role of financial regulatory failures in the global financial crisis (GFC) has been explored extensively in the post-GFC literature, our knowledge of the role role of bank merger and take-over is limited as mentioned in this paper.
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Prosperity in a Low Interest Environment
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Bank competition and financial (in)stability in Europe: A sensitivity analysis
TL;DR: In this article, the effect of market structure variables on stability subject to regulation and supervision variables was examined over a sample of banks operating within the enlarged European Union during the period 2002-2010, showing an inverse U-shaped association between market power and bank soundness and stabilizing tendency in markets of less concentration, where policies lean towards limited restrictions on non-interest bearing activities, official intervention to bank management and book transparency.
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Market Imperfections, Macroeconomic Conditions, and Capital Structure Dynamics: A Cross-Country Study
Moonsoo Kang,Wei Wang,Ying Xiao +2 more
TL;DR: In this article, the authors investigated how adjustment costs proxied by market imperfections and macroeconomic conditions affect capital structure dynamics in a cross-country setting and found that the adjustment costs are correlated with market imperfection.