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Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
Beltratti, Andrea - 2009
-level governance, country-level governance, country-level regulation, and bank balance sheet and profitability characteristics before … indicators of good governance, banks with more shareholder-friendly boards performed worse during the crisis. Banks in countries …
Persistent link: https://www.econbiz.de/10012463469
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Bank Governance, Regulation, and Risk Taking
Laeven, Luc - 2008
governance structure of each bank. Moreover, we show that the relation between bank risk and capital regulations, deposit … actual sign of the marginal effect of regulation on risk varies with ownership concentration. These findings have important … policy implications as they imply that the same regulation will have different effects on bank risk taking depending on the …
Persistent link: https://www.econbiz.de/10012464532
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Financial Frictions, Investment and Tobin's q
Lorenzoni, Guido - 2007
We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin's q. A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...
Persistent link: https://www.econbiz.de/10012465562
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Revisiting American Exceptionalism : Democracy and the Regulation of Corporate Governance in Nineteenth-Century Pennsylvania
Lamoreaux, Naomi R. - 2014
The legal rules governing businesses' organizational choices have varied across nations along two main dimensions: the number of different forms that businesses can adopt; and the extent to which businesses have the contractual freedom to modify the available forms to suit their needs. Until the...
Persistent link: https://www.econbiz.de/10012458435
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The Great Pyramids of America : A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950
Kandel, Eugene - 2013
Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...
Persistent link: https://www.econbiz.de/10012458971
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Sharing a Government
Ventura, Jaume - 2019
This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a large number of projects that produce local benefits for the region that...
Persistent link: https://www.econbiz.de/10012480087
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Liquidity and Governance
Back, Kerry - 2013
Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm … governance. Empirical tests using three distinct sources of exogenous variation in liquidity confirm the negative relation …
Persistent link: https://www.econbiz.de/10012458993
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Assessing job flows across countries : the role of industry, firm size and regulations
Haltiwanger, John C. - 2008
"This paper analyzes job flows in a sample of 16 industrial and emerging economies over the past decade, exploiting a harmonized firm-level dataset. It shows that industry and firm size effects (and especially firm size) account for a large fraction in the overall variability in job flows....
Persistent link: https://www.econbiz.de/10010521324
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Business environment and firm entry : evidence from international data
Klapper, Leora - 2004
"Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have...
Persistent link: https://www.econbiz.de/10010523101
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Government as a Discriminating Monopolist in the Financial Market : The Case of China
Gordon, Roger H. - 1999
To date, China has maintained a variety of restrictions on its financial markets. In addition to imposing capital controls and regulating interest rates, the government controls both the set of firms that can sell equity on the domestic or foreign stock markets, and the amount they can sell....
Persistent link: https://www.econbiz.de/10012471684