This analysis focuses on the assumption that management efficiency is one of the most important company-specific factors affecting a bank’s international activities. The theoretical results on whether good or bad management influences international activities in banking are mixed. We attempt...

This paper is aimed at examining the actual performance effects of horizontal mergers among companies. The view taken in this paper holds that evaluating actual mergers' efficiency effects be similar in spirit to estimating causal treatment effects. By applying the matching framework we use a...

In this note we provide empirical evidence supporting the view that enhanced corporate risk and liquidity management promoted by financial development provides better insurance against liquidity shocks caused by capital market imperfections and thus tends to support economic growth.