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).
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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
Monetary policy through the ‘credit-cost channel’: Italy and Germany pre- and post-EMU
TL;DR: In this paper, the authors present an empirical analysis of the credit-cost channel of monetary policy transmission, which combines bank credit supply and interest rates on loans as a cost to firms.
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Mirror, Mirror, who is the Fairest of Them All? Reflections on the Design of and Risk Distribution in the Mortgage Systems of Denmark and The UK
TL;DR: In this article, the authors compare the Danish mortgage system with the UK mortgage system and show that the Danish system performs better during the financial crisis than the UK system. But, both in Denmark and the UK, alignment of the mortgage and the pension systems could offer significant advantages.
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The Abnormal Returns of Japanese Acquisition Bidders - Evidence in the 1990s
TL;DR: In this paper, earnings per share forecast data were provided through the Institutional Brokers Estimate System (IBES) as part of a broad academic program to encourage earnings expectation research.
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Vorteile der Risikoübernahme in der klassischen Lebensversicherung
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An Economic Inquiry Into Information Disclosure By Banking Institutions
TL;DR: In this article, the authors present a model of shadow banking in which the shadow and the traditional banking systems share a symbiotic relationship and show that competition with an opaque and fragile shadow bank can beneµt the traditional bank, especially when the traditional banks face liquidity risk stemming from collective actions by investors, such as runs.