The paper uses both macro- and micro-level data to assess how has the financial health of the Irish non-financial corporate (NFC) sector changed in the post financial crisis period. The analysis suggests that vulnerabilities have generally declined in recent years, but the NFC sector and...

This paper investigates the effect of a change in informational environment of borrowers on the organizational design of bank lending. We use micro-data from a large multinational bank and exploit the sudden introduction of a credit registry, an information-sharing mechanism across banks, for a...

Corporate defence represents an organisation's program for self defence or self protection. This paper explains the concept in more detail and explores where business continuity fits into the corporate defence paradigm. The changing nature of corporate defence in the 21st century is discussed...

Drawing on the literature on organizational psychology, this paper discusses the potential of studying corporate culture and organizational behaviour for financial supervision. First, we discuss how corporate culture is often linked to long-term firm performance. From that perspective, factoring...

Unlike labor income, human capital is inseparable from individuals and does not accrue to creditors at default. As a consequence, human capital investment should be more resilient to “debt overhang” than labor supply. We develop a dynamic model displaying this important difference. We find...

This paper extends the corporate social performance (CSP) model by studying the role of governance structures and governance systems in shaping corporate social responsibility. We argue that a governance perspective offers a fruitful research strategy to both study empirically how firms balance...

This Paper surveys the theoretical literature on the effect of soft budget constraints (SBC) on economies in transition from centralization to capitalism; it also reviews our understanding of SBC in general. It focuses on the conception of the SBC syndrome as a commitment problem. We show that...

This paper analyses the effects of scope expansion on the core activity of banks and provides a rationale for their interest in offering a wider product range. We show that scope economies may stem from moral hazard in the core business, and argue that a cost of scope expansion might be the...