This paper examines motivations for large firms to choose an Islamic loan over a conventional loan. This investigation helps understanding the causes of the expansion of Islamic finance activities. We employ a dataset of Islamic and conventional syndicated loans from countries from the Middle...

Good corporate governance can improve firm performance and help assure long-term firm survival. Most providers of microfinance struggle to become financially self-sufficient and to achieve their social objectives of servicing with quality the poorest clientele possible. The issue of corporate...

This study examines the role of foreign banks in Latin America and Asia, focusing particularly on the effects of foreign banks on the stability of the financial sector.First, using data on the presence of foreign banks via branching as well as subsidiaries, the study shows that the presence of...

This paper aims to examine and compare the profitability of Islamic and conventional banks located in 20 African countries over the period 2009-2018. Based on a sample of 21 Islamic banks and 297 conventional banks, this study shows that Islamic banks perform better than conventional banks in...

The depth of and access to financial services provided by banks throughout Latin America are extremely low in spite of its recognized importance for economic activity, employment and poverty alleviation. Low financial depth and access hurts the poor the most and is due to a variety of obstacles...

This paper presents the first evidence on the impact of external governance mechanisms, board diversity and independence, and management compensation on outreach and sustainability of microfinance institutions in Central and Eastern Europe and the Newly Independent States. Results indicate that...

Previous research finds evidence that tax factors motivate the participants in leasing transactions. Tax-arbitrage arguments predict that leasing participants gain when the lessor's tax rate exceeds that of the lessee. This research employs a sample of effectively tax-exempt Real Estate...

Recapitalizing banks in a systemic crisis is a complex medium-term process that requires significant government intervention and careful management at both the strategic and individual bank levels. This paper highlights the range of operational and strategic issues to be addressed and the...

Does enhancing banks' information sets and understanding of credit risks improve loan loss recognition? We study this question using a global dataset of staggered initiations and coverage increases of public credit registries (PCRs). Mandated by national regulators, PCRs collect borrower and...