-offs and write-downs, we examine the impact of loan portfolio sector concentration on credit risk. By controlling for common …

This study focuses on the diversification benefits of the most developed equity markets of Central and Eastern Europe … (CEE). To evaluate these benefits of diversification we use so-called spanning tests based on a stochastic discount factor …

have negative effects and product diversification as well as positive macroeconomic conditions improve firms' financial …

Recent empirical work has established that 'democracy causes growth'. In this paper, we determine the underlying … institutions which drive this relationship using data from the Varieties of Democracy project. We sketch how incentives and … institutions, as witnessed recently in many countries, may jeopardise the perpetual growth effect of becoming a liberal democracy …