While financial institutions' aggregate investments have grown substantially across world equity markets, the size of their individual shareholdings, and ultimately their incentive to monitor, can be limited by the free-rider problem, investment regulations and a preference for diversification...

The purpose of this paper is to discuss and apply some of the key issues and lessons from similar privatization in other parts of the world to the partial privatization of the Bank of China Hong Kong (BOCHK). The empirical results of this paper indicate that some of the banks and non-bank...

While financial institutions' aggregate investments have grown substantially worldwide, the size of their individual shareholdings, and ultimately their incentive to monitor, may be limited by the free-rider problem, regulations, and a preference for diversification and liquidity. We compare...

In light of the growing significance of trade in financial services, and the emphasis placed on trade in financial services during the Uruguay round of trade negotiations, this article is the first study of the determinants of intra-industry trade (IIT) in insurance services. The article...