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Why do some economic systems depend on bank financing while others rely on capital markets and bond financing? We propose a political economy model in which elites favor a bank-based system, which increases their rents due to reduced competition. If suffrage is restricted to the elite, this will...
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, and the increasing securitization of corporate finance. The contributors address the following issues. The impact of … securitization of corporate finance and the amount of financial innovation. …
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We use a novel, household opinions-based measure – Public Confidence in a Bank – to explore the role of bank-level and … system-wide determinants of customers' trust in banks. Our study covers a panel of approximately 260 large Russian commercial … banks publicly monitored during 2010–2017. We find that public confidence in a bank is highly sensitive to the industry …
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