This study investigates the effect of corporate governance reforms protecting minority shareholders on the firm value measured by Tobin’s Q. Using the difference-in-differences estimation and a large international sample from 65 countries for the period 2005-2018, the results show that the...

This paper investigates the relationship between legal origin and banks' risk-taking behavior. We employ GMM to study a sample of both Islamic and conventional banks from 14 dual banking economies from 2005-2018. Our findings can be summarized as follows: (a) bank risk-taking and legal origin...

The European integration process started with the aim of reducing the differences in income and/or living standards between the participating countries over time. To achieve this, a certain alignment of institutions and structures was seen as a necessary precondition. While the goal of this...

A great deal of the foreign aid-growth literature finds that the net effect of aggregate aid on total growth appears to be insignificant. This study argues that this aid-growth nexus can be better explained by testing the variation responses for each of growth sectors to their corresponding...

Financial innovation and institutional quality play a key role in financial development. This study investigates the impact of financial innovation and institutional quality on financial development in an emerging markets setting. We used the sample of 17 emerging markets based on the...

The net contribution of the decomposed measures of foreign direct investment (FDIs), e.g., the inward and outward flows of FDIs, to domestic investment is still inconclusive in the case of underdeveloped and developing countries. The current literature bears testimony to this fact. Hence, this...