This paper examines the extent to which differences in legal tradition, judicial efficiency, and investor protection affect debt financing and risk taking across developing economies. We find that firms in common law countries have the highest preference for debt financing while corporations in...

We approached the issue of blockholding effectiveness and behaviour by studying some exemplary organisational transformations in the Republic of Srpska. We found two distinct clusters of blockholdings. The first cluster is workerentrenched blockholdings, where most workers are unionised. The...