This study examines the determinants of capital adequacy and voluntary capital buffers among microfinance institutions (MFIs). We apply the two-stage least squares (2SLS) with instrumental variables to account for endogeneity. Using quarterly panel data of 439 MFIs in Ghana covering the period...

Banks hold liquid and illiquid assets. An illiquid bank that receives a liquidity shock sells assets to liquid banks in exchange for cash. We characterize the constrained efficient allocation as the solution to a planner's problem and show that the market equilibrium is constrained inefficient,...

Die Strukturen der Unternehmensfinanzierung und -kontrolle haben sich weltweit grundlegend verändert, gekennzeichnet durch neue Kapitalmarktinstrumente, verstärktes Auftreten von Nichtbank-Finanzintermediären sowie zunehmende Arbeitsteilung zwischen den Marktteilnehmern. Der vorliegende...

An efficient bank is more robust to shocks, fosters competitiveness, and promotes stability of the financial system. This study estimates Ethiopia's commercial banks' level of efficiency and its determinants during the period 2014-2020. Data Envelopment Analysis (DEA), Malmquist DEA, and Tobit...

Start-ups are seen as the leading force in dynamically growing economies. Limited financing opportunities often prevent entrepreneurs from realizing their innovative business ideas or taking growth opportunities. However, in the context of the technological revolution, a fundamental change in...

This research uses a cointegration VAR model to study the contemporaneous long-run dynamics of theimpact of Foreign Private Investment (FPI), Interest Rate (INR) and Inflation rate (IFR) on Growth Domestic Products (GDP) in Nigeria for the period January 1970 to December 2009. The Unit Root Test...

The phenomenon of initial public offering (IPO) underpricing has been extensively researched in the literature, however, the underpricing of family firms has received little attention. This is even more prevalent when it comes to underpricing of family firms in an emerging market such as the...