This paper studies how access to bank lending differed between family and non-family firms in the 2007-2009 financial crisis. The theoretical prediction is that family block-holders’ incentive structure results in lower agency conflict in the borrower-lender relationship. Using highly detailed...

This paper explores the link between monetary policies of large industrial countries and international credit cycles. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of large centre countries can fuel credit booms in...

The global crisis has called to further reflection on the role of multinationals in host economies during crisis. The evidence on this matter is scarce. Using panel data analysis, this paper examines the link between foreign ownership, firm profit and turnover growth over 1996-2009 covering two...

In recent decades nations around the world have experienced financial crisis. In some cases political leaders have contributed to the suddenness and magnitude of the crisis by initially providing overly optimistic assertions concerning the potential benefits of their financial liberalisation...

This year the G's are meeting at a critical moment in history, at least economic and social history. They will confront the gravest economic and social crisis in almost 80 years. To paraphrase Keynes, the destiny of the world is in the hands of the members of the G's. They could act in such a...

This paper examines the impacts of the financial, food and fuel crises on the livelihoods of low-income households Nigeria. It uses primary household level data from Nigeria to analyse the impacts of induced price variability on household welfare. Our res

Purpose -Coupon and principal Separate Trading of Registered Interest and Principal Securities (STRIPS) maturing at the same date often trade at different yields. The paper aims to discuss this issue. Design/methodology/approach -This paper analyzes for the first time the maturity structure of...

In this paper we detail the nature of market-oriented institutional upheaval and its implications for business groups in Korea during the late 1990s. Employing case study methodology we identify four projects that were nurtured under corporate venture programs in response to this upheaval: two...