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Migration, spillovers, and trade diversion : the impact of internationalization on stock market liquidity
Levine, Ross; Schmukler, Sergio L. - Economics Research, World Bank Group - 2003
What is the impact of firms that cross-list, issue depositary receipts, or raise capital in international stock markets on the liquidity of remaining firms in domestic markets? Using a panel of over 3,200 firms from 55 countries during 1989-2000, Levine and Schmukler find that...
Persistent link: https://www.econbiz.de/10005133579
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The determinants of financing obstacles
Beck, Thorsten; Laeven, Luc; Maksimovic, Vojislav - Economics Research, World Bank Group - 2004
The authors use survey data on a sample of over 10,000 firms from 80 countries to assess (1) how successful a priori classifications are in distinguishing between financially constrained and unconstrained firms, and (2) more generally, the determinants of financing obstacles of firms. They find...
Persistent link: https://www.econbiz.de/10005141435
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Thailand's corporate financing and governance structures
Alba, Pedro; Claessens, Stijn; Djankov, Simeon - Economics Research, World Bank Group - 1998
The authors assess Thailand's policy options for reducing large corporations'vulnerability to economic shocks and improving their corporate governance - and for providing smaller firms a more stable funding structure. Using data for firms listed on Thailand's stock exchange, they empirically...
Persistent link: https://www.econbiz.de/10005141879
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Bank holding companies : a better structure for conducting universal banking?
Talley, Samuel H. - Economics Research, World Bank Group - 1991
Banking systems in many countries have become increasingly unstable in recent years. At the same time, market forces have pushed banks to expand into a variety of universal banking activities without impairing the stability of the banking system. The basic bank holding company proposal contains...
Persistent link: https://www.econbiz.de/10005080021
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Comparative review of microfinance regulatory framework issues in Benin, Ghana, and Tanzania
Gallardo, Joselito; Ouattara, Korotoumou; Randhawa, Bikki; … - Economics Research, World Bank Group - 2005
The authors investigate the microfinance regulatory regimes in Benin, Ghana, and Tanzania, with a view to identifying … key issues and lessons on how the overall regulatory framework affects integration of microfinance institutions into the … environment promotes sustainable microfinance under shared performance standards and encourages regulatory authorities to develop …
Persistent link: https://www.econbiz.de/10005116311
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Managing public pension reserves Part II : lessons from five recent OECD initiatives
Palacios, Robert - World Bank Group - 2002
A large number of public pension schemes around the world have accumulated significant reserves. Pre-funding might reduce the risk that future governments will not be able to meet pension obligations. The management of these funds therefore, has a direct effect on financial sustainability and...
Persistent link: https://www.econbiz.de/10008676850
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Capital markets and e-fraud: policy note and concept paper for future study
Kellermann, Tom; McNevin, Valerie - Economics Research, World Bank Group - 2005
The technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These...
Persistent link: https://www.econbiz.de/10005129025
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The implications of hyperbolic discounting for project evaluation
Cropper, Maureen; Laibson, David - Economics Research, World Bank Group - 1998
The neoclassical theory of project evaluation is based on models in which agents discount the future at a constant exponential rate. But there is strong empirical evidence that people discount the future hyperbolically, applying larger annual discount rates to near-term returns than to returns...
Persistent link: https://www.econbiz.de/10005116172
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Corporate control in Central Europe and Russia : should banks own shares?
Dittus, Peter; Prowse, Stephen - Economics Research, World Bank Group - 1995
The authors review corporate governance arrangements in the West and conclude that for a system based on bank ownership and control of firms to succeed, the banking system must be free of perverse incentives and state interference, as well as subject to adequate supervision by banking...
Persistent link: https://www.econbiz.de/10005133460
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Venture capital operations and their potential role in LDC markets
Sagari, Silvia; Guidotti, Gabriela - Economics Research, World Bank Group - 1991
The venture capital industry started and developed as an institutional response to rapid changes in the industrial sector and, in particular, to the emergence of small and medium-sized companies. Venture capital targets mainly small and also younger companies, primarily during their early stage,...
Persistent link: https://www.econbiz.de/10005133731