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We address how value relevance of accounting information evolved as the new economy developed. Prior research concludes … accounting information—primarily earnings—has lost relevance. We consider more accounting amounts and find no decline in combined … price and accounting information that reflects the new economy …
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Financial integration is a multidimensional process through which allocation of financial assets becomes increasingly borderless. This paper assesses the progress achieved thus far in capital market integration in Asia, and compares regional capital market integration with global financial...
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on three kinds of financial instruments that have proven especially important in providing finance to SMEs undergoing …
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The return dynamics of Argentina's main stock index, the SP Mer.Val., show a high level of volatility, signaling a higher degree of downside risk. To hedge against that specific risk, investors could buy put options. However, the Argentinean capital markets lacks variety of hedging contracts....
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The Capital Markets Union-project of the European Commission aims for an increase of market-based debt financing of small and medium-sized enterprises (SMEs), complementing bank lending. In this essay we argue that rather than focussing on pure non-bank lending, a reasonable mix of bank- and...
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provides some evidence to suggest that banks play a role in crowding-out bond finance. This is due to the traditionally close … relationships banks enjoy with projects which allow them an advantage over bonds. Banks typically finance projects at financial … Bank's (ADB's) experience in promoting the use of capital market instruments to finance PPP infrastructure projects …
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