This paper studies product market competition under a strategic transparency decision. Dominant investors can influence … make full use of the strategic advantage of a strong firm. We show that bank-controlled firms will tend to discourage … that bank control may fail to keep firms less transparent as global trading volumes rise. …

We investigate whether inward FDI, either at the firm or industry level, has any impact on product innovation by … that export, invest in human capital or R&D, or have prior innovation experience. We also find that SOEs with internal R …

European Union countries have implemented widespread reforms to product markets in order to stimulate competition …, innovation and economic growth. We provide empirical evidence that the reforms carried out under the EU Single Market Programme … (SMP) were associated with increased product market competition, as measured by a reduction in average profitability, and …

) assets are bank-specific. We show that when the outside options of needy banks are weak, surplus banks may strategically … under-provide lending, thereby inducing inefficient sales of bank-specific assets. A central bank can ameliorate this …

ratios - following intra- and (particularly) interstate liberalization of bank branching restrictions. This effect arises …

(particularly) interstate liberalization of bank branching restrictions. This effect arises primarily from convergence in the …

Today’s regulatory rules, especially the easily-manipulated measures of regulatory capital, have led to costly bank … failures. We design a robust regulatory system such that (i) bank losses are credibly borne by the private sector (ii …) systemically important institutions cannot collapse suddenly; (iii) bank investment is counter-cyclical; and (iv) regulatory …

creating counter-cyclical incentives for banks to raise capital, and so encourage bank lending in bad times. They avoid the …