Regulatory and institutional environment is not without effect on a bank's risk taking and therefore on a bank's default. In this article, we investigate regulatory and institutional determinants of credit risk taking and bank's default probability in emerging market economies. Using a two step...

This work follows the early warning signals literature. We propose to test the validity of the CAMEL rating typology for banks’ default models in emerging markets. We focus explicitly on these types of economies and we also investigate the impact of several regulatory, institutional, and legal...

Bank loan syndicate structure can be considered as an organizational response to agency problems stemming from the syndication process. The banking environment also influences the syndication process. We investigate how syndicate structure is influenced by the characteristics of the banking...

This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to...