The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features affecting...

The goal of this paper is to explain the de facto financial market integration to global markets with foreign equity ownership using a unique data set of foreign portfolio flows at the individual stock level. The main result is the positive link between global financial integration and past...