Narrow search
Showing 1 - 10 of 10,563
Cover Image
Bank Ownership and Performance
Micco, Alejandro; Panizza, Ugo; Yañez, Mónica - 2004
This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to reassess the relationship between bank ownership and bank performance, providing separated estimations...
Persistent link: https://www.econbiz.de/10010327143
Cover Image
Avoiding the rating bounce: Why rating agencies are slow to react to new information
Löffler, Gunter - 2002
Rating agencies state that they take a rating action only when it is unlikely to be reversed shortly afterwards. Based on a formal representation of the rating process, I show that such a policy provides a good explanation for the empirical evidence: Rating changes occur relatively seldom,...
Persistent link: https://www.econbiz.de/10010316237
Cover Image
Challenges in Securities Markets Regulation: Investor Protection and Corporate Governance
Tucker, Paul; Haliassos, Michael; Kockelkoren, Theodor; … - 2015
On November 14th, 2014, SUERF – The European Money and Finance Forum – and CNMV, Comisión Nacional del Mercado de Valores – the Spanish Authority for supervision of securities markets – jointly organized a conference in Madrid: Challenges in Securities Markets Regulation: Investor...
Persistent link: https://www.econbiz.de/10011689966
Cover Image
Reluctant Privatization
Bortolotti, Bernardo; Faccio, Mara - 2004
through 2000. We find that governments do not relinquish control after "privatization." We show that the market-to-book ratios …
Persistent link: https://www.econbiz.de/10011325012
Cover Image
Intra-industry effects of privatization announcements: Evidence from developed and developing countries
Otchere, Isaac - 2002
We examine the stock price reaction of rival firms to privatization announcements to infer information about industry … effects of privatization. We find that the rival firms reacted negatively to privatization announcements, thus suggesting that … find that the adverse reaction of the rival firms to privatization announcements in developing countries is stronger than …
Persistent link: https://www.econbiz.de/10011335779
Cover Image
Should the Government Be in the Banking Business? The Role of State-Owned and Development Banks
Yeyati, Eduardo Levy; Micco, Alejandro; Panizza, Ugo - 2004
This paper surveys the theoretical and empirical literature on the role of state-owned banks and also presents some new results and a robustness analysis. The paper shows that state-owned banks located in developing countries have fiscal costs because they are characterized by lower returns than...
Persistent link: https://www.econbiz.de/10010327147
Cover Image
Privatisations and institutions: A cross-country analysis
Bortolotti, Bernardo; Fantini, Marcella; Siniscalco, … - 1997
What legal, political and economic institutions are shaping privatisations processes in the world? This paper addresses …
Persistent link: https://www.econbiz.de/10011608340
Cover Image
Why do governments sell privatised companies abroad?
Bortolotti, Bernardo; Fantini, Marcella; Scarpa, Carlo - 2000
This paper provides an empirical analysis of GovernmentsÕ decisions to sell privatised companies on both international and domestic markets in a sample of 392 privatisations in 42 countries in the 1977-1998 period. Political theories of privatisation find strong support in our analyses: market...
Persistent link: https://www.econbiz.de/10011608587
Cover Image
Privatisation around the world: New evidence from panel data
Bortolotti, Bernardo; Fantini, Marcella; Siniscalco, … - 2001
This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and...
Persistent link: https://www.econbiz.de/10011608839
Cover Image
Privatization and labor force restructuring around the world
Chong, Alberto; López-De-Silanes, Florencio - 2002
Critics of privatization argue that poor labor force restructuring is a key concern and that governments should … establish better retrenchment programs. Using new data from arandom sample of 400 companies in the world, we test competing … owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments …
Persistent link: https://www.econbiz.de/10011335776