Prior research suggests an inverse relationship between geographic distance and financial market linkages. In this paper, we examine whether and how cultural distance between countries mitigates this finding. We find that country-pairs exhibit higher linkages if they have smaller cultural...

This paper investigates the impact of county-level financial integration on corporate financing choices in emerging economies. Examining 4477 public firms from 24 countries, we find that corporate leverage is positively related to credit market integration, while negatively related to equity...

We examine the association between financial integration and capital market transparency of emerging-market firms. We use four intra-year price timeliness measures derived from the Beekes and Brown (2006, 2007) methods as indicators of the firm's transparency. The sample comprises 57,465...