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Investor Protection, Ownership, and the Cost of Capital
Himmelberg, Charles P.; Hubbard, R. Glenn; Love, Inessa - 2013
The authors combine the agency theory of the firm with risk diversification incentives for insiders. Principal …
Persistent link: https://www.econbiz.de/10012559596
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Capital Markets and E-fraud Policy Note and Concept Paper for Future Study
Kellermann, Tom; McNevin, Valerie - 2012
The technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These...
Persistent link: https://www.econbiz.de/10012554055
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Governance and Bank Valuation
Caprio, Gerard; Laeven, Luc; Levine, Ross - 2013
Which public policies and ownership structures enhance the governance of banks? The authors construct a new database on the ownership of banks internationally and then assess the ramifications of ownership, shareholder protection laws, and supervisory and regulatory policies on bank valuations....
Persistent link: https://www.econbiz.de/10012559710
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Assessing the Investment Climate for Climate Investments : A Comparative Framework for Clean Energy Investments in South Asia in a Global Context
Mani, Muthukumara S. - 2013
compatible" -- future. However, private investment will only flow at the scale and pace necessary if it is supported by clear …, credible, and long-term policy frameworks that shift the risk-reward balance in favor of less carbon-intensive investment. The … lower investment risk. Barriers to low carbon investments often include unclear and inconsistent energy policies, monopoly …
Persistent link: https://www.econbiz.de/10012557093
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Finance, Financial Sector Policies, and Long-Run Growth
Demirg????-Kunt, Asli; Levine, Ross - 2012
The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems...
Persistent link: https://www.econbiz.de/10012552258
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Populist Fiscal Policy
Khemani, Stuti; Wane, Waly - 2012
Political economy explanations for fiscal profligacy are dominated by models of bargaining among organized interest groups over group-specific targeted benefits financed by generalized taxation. These models predict that governments consisting of a coalition of political parties spend more than...
Persistent link: https://www.econbiz.de/10012552550
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Location Decisions of Foreign Banks and Competitive Advantage
Claessens, Stijn; Van Horen, Neeltje - 2012
competitor banks. Using bilateral data on banking sector foreign direct investment in all developing countries and controlling … investment in banking and that there are specific benefits, as well as risks, to international financial integration between …
Persistent link: https://www.econbiz.de/10012552564
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Choosing the Currency Structure for Sovereign Debt : A Review of Current Approaches
Melecky, Martin - 2012
This paper acknowledges the fact that some countries have to borrow in foreign currencies due to the various constraints they face. Starting from this point, the author reviews approaches for trying to determine the currency structure for sovereign debt, and discusses some issues inherent in...
Persistent link: https://www.econbiz.de/10012552694
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Global Income Inequality : What It Is and Why it Matters
Milanovic, Branko - 2012
inequality (inequality between citizens of the world). It discusses the relationship between globalization and global inequality …
Persistent link: https://www.econbiz.de/10012553691
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Trading on Time
Djankov, Simeon; Freund, Caroline; Pham, Cong S. - 2012
The authors determine how time delays affect international trade using newly collected World Bank data on the days it …
Persistent link: https://www.econbiz.de/10012553733