This paper studies the impact of international financial integration on corporate financing choices, at a country level. Examining publically quoted firms of 24 emerging economies over the 1995-2007 period, we find that greater bond market integration is associated with increased leverage and a...

The current crisis is leading many to re-think the role of finance and how it should be regulated. Yet many features of this crisis are decidedly not new. This paper reviews what was regarded as the conventional wisdom on financial regulation prior to the 2007 onset of the crisis, briefly...

Employing 90,000 firm-level observations from 13 countries over a seven year period, and controlling for an extensive set of firm-level characteristics, industry effects and country-level institutional variables, we provide a conceptual framework and empirical analysis of how culture influences...