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What is Shadow Banking?
Claessens, Stijn - 2014
There is much confusion about what shadow banking is. Some equate it with securitization, others with non …-traditional bank activities, and yet others with non-bank lending. Regardless, most think of shadow banking as activities that can …, which require a private or public backstop to operate”. Backstops can come in the form of franchise value of a bank or …
Persistent link: https://www.econbiz.de/10014394300
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What is Different About Family Businesses?
Chami, Ralph - 2001
developing countries. This paper develops a theory of family business that brings market forces and the family, as a nonmarket …
Persistent link: https://www.econbiz.de/10014399982
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IMF Conditionality and Country Ownership of Programs
Khan, Mohsin S. - 2001
The paper uses finance and agency theory to establish two main propositions: First, that the conditionality attached to …
Persistent link: https://www.econbiz.de/10014403611
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A Theory of International Crisis Lending and IMF Conditionality
Zettelmeyer, Jeromin - 2008
We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the...
Persistent link: https://www.econbiz.de/10014401468
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The Impact of Corporate Governance Structureson the Agency Cost of Debt
Chan-Lau, Jorge A. - 2001
This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control of the firm by debtholders with a minority stake delays the exit decision and...
Persistent link: https://www.econbiz.de/10014401371
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Reforming the corporate governance of Italian banks
Jassaud, Nadège - 2014
Persistent link: https://www.econbiz.de/10010441888
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Reforming the Corporate Governance of Italian Banks
Jassaud, Nadège - 2014
Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges arising from the role played by foundations and large...
Persistent link: https://www.econbiz.de/10014411639
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Bank lobbying : regulatory capture and beyond
Igan, Deniz; Lambert, Thomas - 2019
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences … through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the …
Persistent link: https://www.econbiz.de/10012103556
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Domestic Bank Regulation and Financial Crises : Theory and Empirical Evidence From East Asia
Kletzer, Kenneth - 2001
A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium, the banking system becomes progressively more fragile under imperfect prudential regulation and public sector loan...
Persistent link: https://www.econbiz.de/10014400004
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Systemic Risk and Optimal Regulatory Architecture
Espinosa-Vega, Marco - 2011
Until the recent financial crisis, the safety and soundness of financial institutions was assessed from the perspective of the individual institution. The financial crisis highlighted the need to take systemic externalities seriously when rethinking prudential oversight and the regulatory...
Persistent link: https://www.econbiz.de/10014398488