This paper provides a comprehensive study of the syndicate structure and its relationship to information asymmetry and loan spread by using principal component analysis on a large set of 40 structure-related variables. A total of six structure components are identified and related to syndicate...

Using bank-level data for the period 1990–2005, we investigate to what extent European banks are able to shift their tax-burden forward. We examine the effects of corporate income tax (CIT) and value added tax (VAT) on pre-tax profits and their components, and find that both are shifted...

We investigate bank risk taking, efficiency and their relation to law enforcement using a unique sample of 133 Chinese city commercial banks across 31 regions for the 1999–2008 period. We find that stronger law enforcement tends to promote greater bank risk taking in the region. Furthermore,...

While the aggregate effects of sudden stops and international financial crises are well known, the disaggregated channels through which they work are not well explored yet. In this paper, using job flows from a sectoral panel dataset for four Latin American countries, we find that sudden stops...

En España entre 2010 y 2011 se ha producido una gran restructuración financiera, que ha llevado a la práctica desa¬parición de las Cajas de Ahorros mediante fusiones y posterior cambio de estructura de la propiedad convirtiéndose en bancos. Esta gran restructuración ha sido promovida por...

The poor in developing countries are the most exposed to natural catastrophes and microfinance organizations may potentially ease their economic recovery. Yet, no evidence on MFIs strategies after natural disasters exists. We aim to fill this gap with a database which merges bank records of...

Since World War II, the concept of credit rationing (CR) has been a topic of extensive investigations, both theoretical and empirical. From the theoretical point of view, several attempts have been made to define the extent to which a firm can be identified as credit rationed in macroeconomic...

Pierre-Joseph Proudhon’s ideas on credit and money have been considered to be not very relevant and above all unrealistic. However, they have known an uncommon posterity. They influenced Silvio Gesell who is John Maynard Keynes’s reference. This article analyses Pierre-Joseph Proudhon’s...

Deposit guarantee schemes are organized in order to protect depositors of credit institutions which have not the means to find out about their financial situation, and also to increase banking system stability by avoiding massive withdrawals from credit institutions which appear on suspicion of...

International financial decision is not a simple one and it is mainly characteristic to multinational companies or to companies located in countries with a reduced saving rate that is not sufficient to cover all internal financing needs (is the case of emerging markets like Romania is). The...