In this paper, we analyze the differences of effects of a deposit insurance schemes on financial cooperative and joint stock banks risk taking. We develop a methodology which includes the specifics of the utility function for the financial cooperative and we compare the results to a similar...

In this article, we examine the effect of multiple listings of options on their bid–ask spread, by comparing options contracts listed only on the Montreal Exchange with those interlisted on that exchange and on a U.S. exchange as well. Using a statistical procedure adapted to panel data and...

This paper addresses topics on which an agreement is necessary to arrive at consensus guidelines or principles of regulation and supervision of cooperative financial institutions (CFIs) in developing countries. Specifically we identify those aspects related to CFI industry structure, governance,...

The purpose of the paper is to evaluate and measure the effect of financial liberalization (FL) on bank risk exposure. We pursue these questions by assessing the changes in market-based asset values and risk exposure measures for commercial banks (CB) before and during a FL program. We do this...

In this paper we present a solution to the problem of pricing guarantees of minimum returns on pension fund contributions. These guarantees exist by law in Colombia and cover all pension fund contributions made to the country's private pension fund administration companies (AFPs). As of...