Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- List of figures -- List of tables -- List of contributors -- Acknowledgements -- Chapter 1 Introduction to contemporary issues in development finance -- Chapter 2 Finance, economic growth, and development -- Chapter 3...

This paper examines, for a sample of 657 state-owned Chinese firms in 2005, whether group affiliation improves performance. By using a simple OLS regression, as well as propensity score matching, treatment effects and two-step instrumental variable methods, we find a robust positive effect of...

This paper analyzes the effect of group affiliation on the riskiness of Indian companies. We show that the large difference in stock returns on group affiliates and on stand-alone companies cannot be explained by a standard multifactor model. However, the common variation in the returns on group...

This paper analyzes the choice of signaling mechanisms by firms in a loan arrangement with banks. In a world of asymmetric information, firms have several debt instruments and hence can use them simultaneously to self-select. It is shown that different separating equilibria may result for...

This paper examines whether institutional differences between countries impact upon the efficient operation of commercial banks. We hypothesize that well developed institutions may affect the adoption of the technology used by banks, and the efficient use of the technology in place. By applying...

This paper originates from the current move to individual-based lending systems by many microfinance institutions and the fear that this move will lead to a decrease in access to credit for the poor. More specifically, the paper examines how an individual-based lending scheme can be devised such...