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Governance and Performance of Microfinance Institutions in Central And Eastern Europe and the Newly Independent States

Hartarska, Valentina - William Davidson Institute, University of Michigan - 2004

outreach, whereas regulation and rating do not affect performance. Board diversity improves both outreach and sustainability …

Persistent link: https://www.econbiz.de/10005652536

POLICY REGIME CHANGE AND CORPORATE CREDIT IN BULGARIA: ASYMMETRIC SUPPLY AND DEMAND RESPONSES

Dobrinsky, Rumen; Markov, Nikolay - William Davidson Institute, University of Michigan - 2003

– affects the flow of bank credit to the corporate sector. An attempt is made to identify the determinants of corporate credit …

Persistent link: https://www.econbiz.de/10005207906

Tax Avoidance and the Allocation of Credit

Meyendorff, Anna - William Davidson Institute, University of Michigan - 1998

This paper models the credit-seeking behavior of a firm when applying for a bank loan increases the probability of … that if the probability of paying taxes increases as a result of applying for a bank loan, profit maximizing firms will be … existing investments, the less likely it will be to borrow from a bank to finance a new investment project. In an economy where …

Persistent link: https://www.econbiz.de/10005784712

The Politics of Institutional Learning and Creation: Bank Crises and Supervision in East Central Europe

McDermott, Gerald A. - William Davidson Institute, University of Michigan - 2004

This article examines the political conditions shaping the creation of new institutional capabilities. It analyzes bank …-enforcing economic incentives, the “depoliticization” approach creates few changes in bank behavior and, indeed impedes investment in new … capabilities at the bank and supervisory levels. The “deliberative restructuring” approach fostered innovative, costeffective …

Persistent link: https://www.econbiz.de/10005489923

Corporate Stability and Economic Growth

Durnev, Art; Kim, E. Han - William Davidson Institute, University of Michigan - 2003

Newly released data on corporate governance and disclosure practices reveal wide within-country variation, with the variation increasing as legal environment gets less investor friendly. This paper examines why firms practice high-quality governance when law does not require it; firm attributes...

Persistent link: https://www.econbiz.de/10005784593

The Economic Value of Regulated Disclosure: Evidence from the Banking Sector

Tadesse, Solomon - William Davidson Institute, University of Michigan - 2006

The study examines the economic consequences of regulated disclosure in the banking sector, focusing on its impacts on the stability of banking systems. In a cross-country study of banking systems across 49 countries in the 90s, I find that banking crises are less likely in countries with...

Persistent link: https://www.econbiz.de/10005677694

Going Public in Poland: Case-by-Case Privatizations, Mass Privatization and Private Sector Initial Public Offerings

Aussenegg, Wolfgang - William Davidson Institute, University of Michigan - 1999

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 Changing Corporate Governance Paradigm: Implications for Transition and Developing Countries

Berglof, Erik; Thadden, Ernst-Ludwig von - William Davidson Institute, University of Michigan - 1999

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

THE COST STRUCTURE OF MICROFINANCE INSTITUTIONS IN EASTERN EUROPE AND CENTRAL ASIA

Hartarska, Valentina; Caudill, Steven B.; Gropper, Daniel M. - William Davidson Institute, University of Michigan - 2006

Microfinance institutions are important, particularly in developing countries, because they expand the frontier of financial intermediation by providing loans to those traditionally excluded from formal financial markets. This paper presents the first systematic statistical examination of the...

Persistent link: https://www.econbiz.de/10005652605

How Important is Ownership in a Market with Level Playing Field? The Indian Banking Sector Revisited

Bhaumik, Sumon Kumar; Dimova, Ralitza - William Davidson Institute, University of Michigan - 2003

It has long been argued that private ownership of firms leads to better firm performance. However, theory as well as empirical evidence suggest that factors like agency problems may not allow privately owned firms to operate more efficiently or perform better that state owned firms. At the same...

Persistent link: https://www.econbiz.de/10005677497

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