Narrow search
Showing 1 - 10 of 138
Cover Image
Professional Advice
Ottaviani, Marco; Sorensen, Peter - EconWPA - 1999
Professional experts offer advice with the objective of appearing well informed. Their ability is evaluated on the basis of the advice given and the realized state of the world. We model this situation as a reputational cheap-talk game with continuous signal, state, and ability type spaces....
Persistent link: https://www.econbiz.de/10005550867
Cover Image
How Important Are Foreign Banks in European Transition Countries? A Comparative Analysis
Bol, Hanneke; Haan, Jakob de; Scholtens, Bert; Haas, … - EconWPA - 2002
This paper analyses the development of the banking sector in twelve transition countries. Foreign banks have become major players in the financial system of these countries. Still, foreign bank presence and financial development in general vary considerably between these economies. Distance from...
Persistent link: https://www.econbiz.de/10005556660
Cover Image
Links between securities settlement systems: An oligopoly theoretic approach
Kauko, Karlo - EconWPA - 2004
This paper presents a duopoly model of the securities settlement industry. Because pooling a large amount of payments can help in using liquidity efficiently, issuers prefer systems where a large number of securities are issued. If the central securities depositories establish a mutual link that...
Persistent link: https://www.econbiz.de/10005561485
Cover Image
A Catering Theory of Analyst Bias
Lai, Richard Kum-yew - EconWPA - 2005
We posit a theory that runs counter to how conventional wisdom thinks about analyst bias, that it is the result of … the beliefs of investors downstream, the purported victims of analyst bias. We adapt Mullainathan-Shleifer’s theory of … media bias to build a theory of how analysts cater to what investors believe. The theory also predicts that competition …
Persistent link: https://www.econbiz.de/10005561608
Cover Image
Trends in the Canadian Financial System
christian, calmes - EconWPA - 2004
Over the 1990s, Canadian businesses became more heavily dependent on financial markets as their primary source of external funding. Data display a trend towards a more market-oriented financial system. Our econometric tests suggest that this new trend started after the 1980 banking legislation...
Persistent link: https://www.econbiz.de/10005561642
Cover Image
Potential applications of structured commodity financing techniques for banks in developing countries
Rutten, Lamon - EconWPA - 2003
This paper discusses of a number of innovative financial techniques that can be used by developing country banks to open up new financing possibilities in the commodities sector, for industries servicing the commodity sector, and for financing on the basis of "commoditized" income streams. This...
Persistent link: https://www.econbiz.de/10005561682
Cover Image
Privileged Interfirm/Bank Relationships in Central Europe: Trigger or Trap for Corporate Governance?
Fink, Gerhard; Haiss, Peter R.; Orlowski, Lucjan T.; … - EconWPA - 2005
The paper focuses on the question whether banks and capital markets in Central Europe are capable of exerting a positive influence on enterprise performance at the present stage of the economic transformation. These markets are characterised by privileged, collaborative interfirm/interbank...
Persistent link: https://www.econbiz.de/10005561687
Cover Image
An Analysis of the Profitability, Risk and Growth Indicators of Banks Operating In Malta
Camilleri, Silvio John - EconWPA - 2005
The paper consolidates the summarised financial statements of the main banks operating in Malta during the year 2002, to form a Typical Large Bank and a Typical Small Bank. The rofitability, risk and growth prospects of the two institutions are analysed through Return on Equity decomposition and...
Persistent link: https://www.econbiz.de/10005561713
Cover Image
LA ESTRATEGIA DEL BANCO BILBAO VIZCAYA FRENTE AL BANCO SANTANDER
Rubio, Fernando - EconWPA - 2004
Este documento de trabajo está dividido en dos partes. Primero, se analizan las tendencias de la banca mundial. Para ello se ha actualizado un documento de trabajo previo del autor, el cual estaba incluido en una serie de siete desarrollado para analizar la Estrategia de Citicorp en Chile....
Persistent link: https://www.econbiz.de/10005561737
Cover Image
Farmers and farmers’ associations in developing countries and their use of modern financial instruments
Rutten, Lamon - EconWPA - 2003
This paper starts with an overview of the current literature on the cost of price risk exposure to developing country farmers. It then discusses market-based price risk management instruments (such as futures and options) that can be used by farmers, as well as various mechanisms through which...
Persistent link: https://www.econbiz.de/10005561756