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Syndicated Loans, Foreign Banking and Capital Market Development
Haselmann, Rainer F. H. - 2009
In this paper we examine the role of syndicated loan markets in financial market development in 24 European countries. We find credit spreads to be negatively related to market size in small markets and positively related in large financial markets. Syndicated loans play a different role in...
Persistent link: https://www.econbiz.de/10013158058
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Emerging stock premia : some evidence from industrial stock market data
Donadelli, Michael; Lucchetta, Marcella - 2013
This paper studies the behavior of emerging stock excess returns in an industry-by-industry context. We examine stock market performance for 23 countries and ten industries over 17 years from 1995 to 2012 – a period that includes major changes in capital market regulations, the removal of...
Persistent link: https://www.econbiz.de/10009755648
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Role of regulatory governance in financial stability : a comparison of high and low income countries
Ullah, Saif; Hussain, Sayed Irshad; Agha Amad Nabi; … - In: Journal of central banking theory and practice 11 (2022) 1, pp. 207-226
. However, central bank's independence and economic independence have a statistically significant effect on financial stability …, whereas central bank accountability, supervisory independence and accountability, political central bank independence as well …
Persistent link: https://www.econbiz.de/10012806000
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Institutions, Investor Protection, and Corporate Choices in Developing Economies
Turk-Ariss, Rima - 2011
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...
Persistent link: https://www.econbiz.de/10013128516
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On assessing pro-poorness of government programmes : international comparisons
Kakwani, Nanak; Son, Hyun H. - In: The many dimensions of poverty, (pp. 251-274). 2007
Persistent link: https://www.econbiz.de/10014559601
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Creditor Governance
Jandik, Tomas - 2018
We provide evidence that large creditors exert a governing influence over corporate borrowers outside of covenant (technical) violation and payment default states. We show that, subsequent to syndicated loan origination, borrowers decrease capital inefficiencies, increase investments in...
Persistent link: https://www.econbiz.de/10012915359
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Pricing Sovereign Debt in Resource-Rich Economies
McGregor, Thomas - 2019
How do oil price movements affect sovereign spreads in an oil-dependent economy? I develop a stochastic general equilibrium model of an economy exposed to co-moving oil price and output processes, with endogenous sovereign default risk. The model explains a large proportion of business cycle...
Persistent link: https://www.econbiz.de/10012858384
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Bank Ownership : Trends and Implications
Cull, Robert - 2017
This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the … implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The … the impact of government bank ownership suggests few benefits, especially for developing countries …
Persistent link: https://www.econbiz.de/10012957838
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Banks’ Credit Rating Changes and the Stock Prices – The Impact of Political Divisions and Economy Development
Chodnicka-Jaworska, Patrycja - 2016
The basic goal of the article is to analyse the impact of credit ratings changes on the rates of return of banks' shares taking into account the level of economy development and the political divisions. There are put the following hypothesis: The banks' share prices react stronger on the credit...
Persistent link: https://www.econbiz.de/10012981001
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Three essays on economic policy in developing countries
Braun, Miguel - 2001
Persistent link: https://www.econbiz.de/10001717900