This paper deals with two issues. On the one hand, it shows that structural changes in financial markets and in the hedge funds industry make the “light-touch” arguments for regulating hedge funds no longer relevant. On the other hand, pleas for stronger regulation of hedge funds are getting...

This paper deals with two issues. On the one hand, it shows that structural changes in financial markets and in the hedge funds industry make the ?light-touch? arguments for regulating hedge funds no longer relevant. On the other hand, pleas for stronger regulation of hedge funds are getting...

Disagreement exists about the potential effects of changes in competition on relationship lending. Boot and Thakor (2000) predict that an increase in capital market competition should lead to a reduction in relationship lending; however, Dinç (2000) predicts that greater capital market...

Since fiscal 2003, the 'performance' of the Japanese banking sector, in terms of profitability, asset quality, and capital adequacy, has improved markedly as the real economy has recovered, suggesting that the widespread pessimism (see, for example, Hall, 2006 and IMF, 2003) expressed earlier...

Since banks are among the most important sources not only of finance but also of external governance for firms, the corporate governance of banks is a crucial factor for growth and development. Despite its importance, this topic has been explored only by a few studies. While some authors...

The majority of transactions between economic entities presently represent contractual relations which set rights and engagements of the parties. The authors analyse theoretical issues and approaches which give an idea about the contractual discipline in contemporary developed economy. In the...

This paper studies the mechanisms of market discipline in the Mexican deposit market. It tests the hypothesis that low-quality banks pay higher interest rates on deposits, receive fewer deposits, and shift their deposit agreements from long to short term. This hypothesis was assessed with...