Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that … success of banking reforms in India where significant banking reforms have been introduced since 1990s. Using the argument … that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in …

existing jobs. We argue that with well-developed capital markets, firms will have an incentive to rely more on liquidity, and … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much … Recession increased more than in European countries experiencing larger output losses. Empirically, the paper uses a variety of …

This study examines the impact of 1997 Asian and 2008 Global financial crises on the capital structure of Korean listed …-2015, the pattern of firms' capital structure before and after the crises is investigated and the speed of adjustment toward the … optimal leverage identified. Different effects of the two crises on both capital structure and its adjustment speed is found …