We empirically examine the hypothesis that access to core deposits permits a bank to make contractual agreements with borrowers, which are infeasible if the bank must pay market rates for its funds. Access to core deposits insulates a bank's costs of funds from exogenous shocks. In turn, the...

The reasons for disintermediation on in the financial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous changes in the post-crisis financial sector landscape. In this article, the authors analyse the underlying causes of the shift away...

This paper presents the findings of a survey among 18 central banks from Asia and the Pacific regarding their views on and policies regarding sustainable finance. It also reviews recent developments in selected Asia and Pacific countries concerning sustainable finance to illustrate the actions...

The recent financial crisis that began in 2007, also known as the Global Financial Crisis, had a huge influence on the financial situations of enterprises and financial institutions around the world. The situation on world stock markets was also strongly affected by the crisis. As the behavior...

Placing the Asian economies onto a sustainable development pathway requires an unprecedented shift in investment away from greenhouse gas, fossil fuel and natural resource intensive industries towards more resource efficient technologies and business models. The financial sector will have to...

Research suggests that the cash ratios of private firms are lower than the ones of public firms, which is not consistent with an expectation for increased importance of the precautionary motive for firms with fewer funding options. The study provides a significant explanation on these lower...

Guided by the evidence that insiders and institutional investors are better informed, I comprehensively investigate the trading behavior and ownership of insiders and institutional investors in Taiwan in an attempt to differentiate between the two types of investors. Insiders gain profits from...

We compare the market quality of the newly established, second board of the China stock market, the Growth Enterprise Market (GEM) with the Main Board, and examine its impact on the Main Board from the market microstructure perspective. Using the newly available transaction level data, several...

This paper attempts to characterize the production technology of venture capital (VC) firms in Taiwan, whilst taking into account the simultaneity problem that arises from the correlation between inputs and unobserved productivity. The estimates of scale economies from OLS are found to be much...