Showing 1 - 10 of 94
Banks entering an emerging market face a lot of uncertainty about the risks involved in lending. We use a unique …
Persistent link: https://www.econbiz.de/10005652526
The paper seeks to assess how a major policy regime change – such as the introduction of the currency board in Bulgaria – affects the flow of bank credit to the corporate sector. An attempt is made to identify the determinants of corporate credit separately from the viewpoint of lenders and...
Persistent link: https://www.econbiz.de/10005207906
This paper models the credit-seeking behavior of a firm when applying for a bank loan increases the probability of being monitored by the fiscal authorities. Using Russia as an example of an economy with poorly enforced tax payment, I find that if the probability of paying taxes increases as a...
Persistent link: https://www.econbiz.de/10005784712
also explains in what respect banks differ from enterprises and what this implies for policy. Commonly observed phenomenons …
Persistent link: https://www.econbiz.de/10005677615
-firm relationship and show that the bank’s decision to liquidate bad firms has two opposing effects. First, the bank receives a payoff …
Persistent link: https://www.econbiz.de/10005651481
We present a model of bank passivity and regulatory failure. Banks with low equity positions have more incentives to be … higher rate of interest in order to attract deposits compared to banks that are not in distress. Therefore, higher deposit … importance of asymmetric information between banks and the regulator and suggests the usefulness of looking at deposit rate …
Persistent link: https://www.econbiz.de/10005784685
This study compares the characteristics and the price behavior of case-by-case privatization initial public offerings, private sector initial public offerings and the mass privatization program in Poland over the first eight years after the reopening of the Warsaw Stock Exchange in April 1991....
Persistent link: https://www.econbiz.de/10005677595
The rapidly growing literature studying the relationship between legal origin, investor protection, and finance has stimulated an important debate in academic circles. It has also generated a number of applied research projects and strong policy statements. This paper discusses the implications,...
Persistent link: https://www.econbiz.de/10005677653
Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...
Persistent link: https://www.econbiz.de/10005652518
This paper presents the first evidence on the impact of external governance mechanisms, board diversity and independence, and management compensation on outreach and sustainability of microfinance institutions in Central and Eastern Europe and the Newly Independent States. Results indicate that...
Persistent link: https://www.econbiz.de/10005652536