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We examined the association between financial disclosure and Net Interest Costs (NIC) in terms of finance studies that have suggested that the municipal bond market is segmented. Our results indicate that financial reporting measures are more strongly associated with NIC in the regional primary...
Persistent link: https://www.econbiz.de/10012746626
Persistent link: https://www.econbiz.de/10010927933
The financial crisis has generated a deep revision of the regulation of securities and derivatives markets. In this paper, we critically examine the extent to which current reforms, such as the European Market Infrastructure Regulation and the proposed new Markets in Financial Instruments...
Persistent link: https://www.econbiz.de/10011126127
Thanks to the recent banking crises interest has grown in banks and how they operate. In the past, the empirical and institutional market micro-structure of the operation of banks had not been a primary focus for investigations by researchers, which is why they are not well covered in the...
Persistent link: https://www.econbiz.de/10011117760
The paper analyzes the influence of credit-, labor-, and product market deregulation policies on economic growth in … work finds that deregulation contributed to the per capita GDP levels of the early reformers relatively more than to the … acceleration effect for the late reformers, which points to large dynamic welfare gains from deregulation. The latter result …
Persistent link: https://www.econbiz.de/10008693569
We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross-sectionally, smaller, riskier insurers with higher...
Persistent link: https://www.econbiz.de/10005561610
sample period is split in two: before and after the MFI implemented France's regulatory EUR 10,000 loan ceiling. In the first …
Persistent link: https://www.econbiz.de/10010736404
The evidence on gender discrimination in lending remains controversial. To capture gender biases in banks’ loan allocations, we observe the impact on the applicants of a microfinance institution (MFI) and exploit the natural experiment of a regulatory change imposing a strict EUR 10,000 loan...
Persistent link: https://www.econbiz.de/10011185443
sample period is split in two: before and after the MFI implemented France's regulatory EUR 10,000 loan ceiling. In the first …
Persistent link: https://www.econbiz.de/10010900244
This essay reviews differences in regulatory structure across sectors of the financial services industry in the United States and then explores the difficulties these differences pose to our current system of regulation and also to proposals for financial modernization. The Essay begins with a...
Persistent link: https://www.econbiz.de/10012722253