While there are a relatively large number of studies on the relationship between firm formality and bribery, little is known about how a dynamic business environment affects this relationship. Using longitudinal data collected from biennial surveys of small- and medium-sized firms in Vietnam,...

This paper examines market discipline of Australian credit unions, and the impacts of the global financial crisis and the 2008 deposit guarantee scheme. The prior literature has focused on the market discipline of banks rather than credit unions. Using a unique sample of 204 Australian credit...

Foreign currency denominated loans (FCDLs) are an important part of corporate funding as well as an operational risk management tool. We show that Australian borrowers use FCDLs to hedge their foreign exchange risk exposure. FCDLs are found to carry an interest rate premium over domestic...