This research work is aimed at determining the effectiveness of the Audit Committee (AC), analyzing its impact on the reliability of accounting information issued by spanish listed companies. With this aim, we study whether certain features such as its voluntary or otherwise compulsory...

This study investigates the relationship between financial development and the size of the informal economy. We build a model in which an exogenous variation in the size of the informal sector creates two effects on financial development. Specifically, informal sector harms financial development...

The main goal of every banking institution is to operate profitably in order to maintain stability and sustainable growth. However, the existence of high levels of non-performing loans (NPLs) in the banking industry negatively affects the level of private investment, impair a bank’s ability to...

While there is a fairly broad consensus regarding the potential adverse effects of generous unemployment benefit insurance on steady-state employment, the short-term effects of benefit reforms are not well-established. This paper contributes to fill this gap by estimating impulse responses to...

Capital structure is an important aspect of financial management however the influence of macroeconomic factors in the determination of capital structure is to some extent under-researched. This article analyzes the influence of the macro economic factors on the capital structure of selected...

The paper investigates exchange rate determination in Kenya using vector error correction model approach to uncover the long run relationships. The empirical results show that current account balance has a role to play in the determination of the exchange rate. A rise, which denotes an...

This paper uses cross country regression analysis on a large set of countries to consider two hypotheses. The first is that increased public debt as a percentage of the economy reduces confidence in financial institutions. The second is that increased public debt relative to the economy lowers...

The monetary transmission mechanisms have influence on saving and investment decisions of firms and households by affecting their balance sheets. This study examines the effects of monetary policy through the balance sheet channel (also known as ‘financial accelerator’), which affects net...

The paper attempts to investigate the influence of the 1988 Basel Accord on bank behavior and monetary policy. It is argued that the Accord was successful in that it forced commercial banks in all of G-10 countries to maintain higher capital ratios. Tentative research suggests, however, that -...