In the aftermath of the global financial crisis, U.S. authorities are attempting to improve financial regulation and supervision. This involves a three-step process: (1) diagnosis of what went wrong, (2) design regulatory and supervisory reforms that address these defects, and (3) implement the...

This comment letter was recently submitted to the FDIC in response to their Single Point of Entry (SPOE) Strategy for implementing Dodd Frank's Orderly Liquidation Authority (Federal Register/Vol. 78, No. 243).In the comment letter, I describe SPOE as a promising first start, but urge the agency...

Flexibility theory of capital structure, asymmetric information, credit rationing, life cycle theory and market timing are consistent with many patterns of financing of entrepreneurial or small/medium size enterprises (SME) in Canada. Tax theory of capital structure does not seem to play a...

Flexibility theory of capital structure, credit rationing, and stage-financing theory are consistent with many patterns of financing of entrepreneurial or small/medium size enterprises (SME). Tax theory of capital structure does not seem to play a significant role for SMEs as opposite to large...

Animosity towards the business of finance is ancient and persistent. As finance creates intangible value, its contribution is invisible to many observers, but the proposed remedy – increased statutory regulation – may heighten, rather than mitigate the exposure of taxpayers and households to...

Entrepreneurial, innovative and small- and medium-sized firms experience difficulties with raising funds using traditional debt and equity. Consequently, they are constantly looking for new strategies of financing. Latest inventions are crowdfunding and token issues. In contrast to traditional...

This article provides an overview of literature related to capital structure theories for entrepreneurial firms. It identifies gaps and controversial areas in existing literature and also discusses potential directions for future research. Credit rationing, signalling by risk-bearing, the...

This article analyzes the patterns of Fintech development in Greater Manchester, UK. Manchester is often called a northern capital of Fintech. We analyze different subsectors of FinTech and find that such sectors as payments, fintech loans, debt-based, reward-based and real-estate-based...

The aim of this study is to explore the previously unresearched outcomes of firms funded through equity crowdfunding, a novel type of entrepreneurial finance. We study the outcomes of a sample of 337 firms funded on equity crowdfunding platforms in Europe between 2009 and 2014. By incorporating...

With the Great Recession and the regulatory reform that followed, the search for reliable means to capture systemic risk and to detect macrofinancial problems has become a central concern. In the United States, this concern has been institutionalized through the Financial Stability Oversight...