We present a theoretical model postulating that the relationship between crime and governance is "hump-shaped" rather …. At the bottom end of the spectrum, therefore, both legal business and criminal gangs benefit from improved governance …, especially when this is delivered informally. With significant improvements in formal governance criminal activities decline. We …

the World Bank Governance Indicators (WBGI). Based on a panel of 25 transition countries for the period from 1996 to 2008 …

-financial firms in the EU15 over the period 1997- 2005, an era marked by intensive merger activity in the banking sector. Our main … leverage of firms, indicating the persistence of credit constraints. This finding is robust when we use behavioral measures of …

We investigate whether or not banks play a positive role in the ownership structure of European listed firms. We … financial institution ownership and the performance of the firms in which they hold equity. Our main finding is that after … controlling for the capital structure decision of the firms and the ownership decision of financial institutions in a simultaneous …

using a unique panel of 4,300 Ukrainian firms during the period 2000-2005. Our estimates confirm the importance of liquidity …, signaling, maturity matching, and agency costs for the liability term structure of firms operating in a transition economy. In … addition, we find that companies do not react uniformly to determinants of debt maturity. Firms that mainly rely on external …

Using data from Germany this paper examines the direct effect of non-financial firms' use of short-term versus long … will change if firms alter their use of short-term versus long-term liabilities. We find that firms that rely more heavily …

-financial firms in the EU15 over the period 1997- 2005, an era marked by intensive merger activity in the banking sector. Our main … leverage of firms, indicating the persistence of credit constraints. This finding is robust when we use behavioral measures of …

We investigate whether or not banks play a positive role in the ownership structure of European listed firms. We … financial institution ownership and the performance of the firms in which they hold equity. Our main finding is that after … controlling for the capital structure decision of the firms and the ownership decision of financial institutions in a simultaneous …