At present in line with shariah principles several Islamic financial institutions are engaged in product development activities globally to cater the needs of a wide range of parties. However, considering the essentiality for these institutions to innovate and operate within the ambits of...

Mutual funds are significant blockholders in many corporations. Concerns that funds vote in a pro-management manner to garner lucrative pensions contracts led the SEC to mandate the disclosure of proxy votes. We present a model of mutual fund voting in the presence of potential business ties. We...

This paper not only recommends means whereby principal-agent problems could be addressed, but also considers various ways in which the external auditor and audit committees contribute as corporate governance tools. The impact of bank regulations on risk taking and the need for a consideration of...

Since the Asian crises which began in Thailand in summer of 1997, issues of corporate governance and corporate organisation in emerging markets have acquired an international dimension. They constitute an important part of the reform agenda of G-7 countries in their plans to institute a new...

The purpose of this paper is to build on the Wellon - Piston analysis and to make two specific proposals for the further evolution of corporate law in Asian countries. The first of these proposals is designed to deal with important aspects of the current economic and financial crisis in South...

The family business is the simplest, easiest and oldest business form in India. A family business may be company, partnership firm or any other form of business owned, controlled and operated by members of family. In India, by virtue of law, businesses or properties may be held in the name of...

This paper explores the question of whether the institution of the stock market is likely to be helpful to developing countries in promoting their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related...

The banks are central elements of a market economy. In more than one way, they facilitate business transactions by acting as depositor and lender for many actors in the domestic and international economy. The banking industry in Nigeria has expanded in size in terms of assets in the last 60...

This paper presents an overview of the Brazilian macroeconomy by analyzing the evolution of some specific time series. The presentation is made through a sequence of graphs. Several remarkable historical points and open questions come up in the data. These include, among others, the drop in...

In the late 1990s, as economists looked back the development period in Africa since 1970s, they put forward the notion “African growth tragedy” , meaning that Africa's poor growth and resulting low income is associated with low schooling, political instability, underdeveloped financial...