ready to forgo interest on rigid – or commitment – savings accounts to discipline their future selves. On the other, our … stylized facts from Bangladesh show that microfinance institutions pay a premium on commitment savings with respect to flexible … savings. To address this puzzle, we build an equilibrium model in which a monopolistic bank offers flexible and commitment …

firm level data set of ownership and balance sheet information. This study fills a gap in the empirical governance … from ownership and firm performance. Results also underline that tunneling, in small business groups, seems motivated by …

allocation process varies according to the MFI ownership structure. Non-profit organisations and shareholders-held MFIs exhibit a …

through pyramidal structure. After describing the ownership structure through a graph association, this paper analyses the … controllers of a firm in a pyramidal structure without cross-ownership. As a real life example, the case of the Belgian retail … company, Colruyt, is used to apply these different methods and compare their results. Furthermore, it shows how the ownership …

Control tunnelling over firms can be reached through pyramids, cross-ownership, and other complex features. This …