Credit ratings are a quasi-public good, and investors and financial markets regulators need an independent assessment of the credit-worthiness of an issuing entity because of information asymmetries and principal agent problems. In light of the high volatility of market-based measures and the...

Market risk reporting in banking has assumed such importance during the last decade. The purpose of this paper is to provide a methodology to evaluate the qualitative and quantitative profiles of the market risk disclosure in banking. We propose a hybrid methodology to assess whether or not...

This paper examines the effect of bank-affiliated venture capital (BVC) on FinTech. Drawing on banks' strategic and complementarity-based behavior, the study tests whether BVC-backed FinTech outperforms non-BVC-backed ones and whether this outperformance is driven by either the screening or...

Starting from the observation that at the multilateral level shareholder activism is considered as an important aspect of good corporate governance, this paper examines several legal and economic obstacles to institutional investor activism in the EU and in the US. We find that investors in the...

This study aims to examine the impact of following ISO management system standards on economic sentiment indicator (ESI) as proxy of economic agents’ general view concerning economic activity, for 21 European Union member states over 2005-2014. The empirical research comprises ISO standards...

This Article presents European money market funds from multiple dimensions and shows the diversity of these funds — a diversity rooted in the historical developments of diverse European financial markets. The events of the financial crisis and liquidity squeeze confronting European money...

Subsequent to the 2008 global crisis, Basel III has proposed some major changes to the Basel II banking regulations, such as increases in Tier 1 capital, mandatory and discretionary capital buffers, and new liquidity ratios. In this paper we provide a comparative study of the Islamic versus...