This paper provides an empirical analysis on Thailand's bank governance reforms after the Asian financial crisis in 1997 and then examines the stock market's response. Unlike the pre-crisis period, we find that the bank sector returns (or return volatilities) have become more Granger causal to...

This study examines the impact of board size and independent directors on the performance of local commercial banks in Thailand. A panel fixed-effect in the individual regression model is used to examine this relationship over 1999-2003. The results showed a statistically significant negative...

This paper offers a behavioral perspective on why Islamic capital markets are dominated by those financial instruments that almost replicate conventional financial products (i.e. Islamic debt bonds and Islamic equities). In contrast, the original Islamic instruments involving risk and return...

This paper explores the mechanisms of persuasion in Islamic finance that may have helped support the growth of this market. Our theoretical model may explain those factors which may influence a customer to select an Islamic financial product. For complex decisions where a person may not fully...

This paper investigates whether any deviations in South Asian banks' interest margins can be attributed to market concentration after controlling for other bank-specific factors and exogenous environmental influences. To that end, an improved structural price-concentration model was estimated...

This study examines market discipline in Australian banks and the impact of the 2008 Australian deposit guarantee scheme. Two forms of depositor market discipline were investigated – a quantity impact whereby an increase in bank risk leads to lower deposit volumes, and a price impact whereby...

Prior studies have examined the development of the financial system and its impact on economic growth, but little has been said about the relationship between its four major components: banking, the stock market, the bond market (private and public bond) and insurance (life and nonlife). Using a...

This study examines whether loan terms are jointly determined and if information asymmetries' effects on them across revolving and term loans. A simultaneous equation model is applied for revolving and term loans made by US commercial banks to US corporate borrowers from 1987 to 2009. The...