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This paper empirically investigates the link between political patronage and bank performance for Ukraine during 2003Q3 …
Persistent link: https://www.econbiz.de/10004968807
coalition. Our empirical results show that firms with political patronage were adversely affected by the electoral outcome. More … political patronage also decreased their leverage levels significantly more than other firms after the 2008 election, suggesting …
Persistent link: https://www.econbiz.de/10010739446
be met for a bank to be resolvable, the “safe-to-fail” test and the banking structures required in order to meet this …Banks cannot be made fail-safe. But they can be made safe to fail, so that the failure of a bank need not disrupt the … amounts to a pre-pack reorganization of the bank that the resolution authority can implement over a weekend, if the bank …
Persistent link: https://www.econbiz.de/10010991079
and bank managers to minimize the size of non-performing loans. After examining 82 banks from US, Europe, Asia and Africa … predictive power of each bank-specific factor (excluding loan diversification), regulatory variable and macroeconomic indicator …
Persistent link: https://www.econbiz.de/10011261765
on anchoring bias are strong even after controlling for bank managers’ potential informational advantages over U …
Persistent link: https://www.econbiz.de/10010599712
Recent studies in the law and finance literature have shown that property rights protection is central to corporate financing and investment decisions and economic growth at large. We extend this literature by examining the effect of property rights security on corporate risk management...
Persistent link: https://www.econbiz.de/10011052886
The study of risk management began after World War II. Risk management has long been associated with the use of market insurance to protect individuals and companies from various losses associated with accidents. Other forms of risk management, alternatives to market insurance, surfaced during...
Persistent link: https://www.econbiz.de/10010693200
Eastern Europe is engaged in a massive programme of financial reform. This paper argues that while this programme has many desirable features, it has failed to address some of the most basic issues. These concern the relationship between the financial system and the enterprise sector, and the...
Persistent link: https://www.econbiz.de/10005791741
In this article we argue the price per share at which private equity is sold relative to current market price conveys important information to the stock market regarding firm quality. The information content of the placement price may be especially important in markets where there are no...
Persistent link: https://www.econbiz.de/10012721397
We investigate the distribution of pay in the top executive team in public companies. In particular, we study the CEO's pay slice (CPS), defined as the fraction of the aggregate top-five total compensation paid to the CEO. The level of a firm's CPS might reflect the relative centrality of the...
Persistent link: https://www.econbiz.de/10012721426