The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...

IPO underpricing has been attributed to valuation uncertainty, which can be at least partially resolved by the indirect learning associated with IPO clustering [Benveniste, L.M., Ljungqvist, A., Wilhelm, W.J., Yu, X.Y., 2003. Evidence of information spillovers in the production of investment...

Return and risk performance of US thrift institutions during the period 1986–90 was inversely related to both firm size and the extent to which the thrifts engaged in non‐traditional activities. Our results contrast earlier studies which found economies of scale in the thrift industry. Most...