This paper examines the risk/return performance of European bank stocks before and after the implementation of the minimum capital requirements under the Basel Accord of 1988. We compare the performance of banks in Belgium, Denmark, Germany, Ireland, Italy, the Netherlands, Scandinavia,...

The purpose of this paper is to explain the role of institutions in different corporate governance arrangements. It applies the logic of trade-off amongst the marginal costs of participants in business organizations as a framework for analyzing corporate governance arrangements in different...

In this paper we examine the construction of international indirect property portfolios available for the UK, France and Japan during three overlapping periods, 1980-88,1986-94 and 1992-2001. The purpose of this analysis is to consider whether the rewards from international property...