In the present paper an attempt will be made to show econometrically with panel data that as globalization increases, banking risk goes also up but not by as much. Panel data are elaborated by means of Eviews software package. The sample covers during 1999–2007 Western Europe and the United States

In the present paper an attempt will be made to show econometrically that globalization has a positive impact on company profitability. This finding in not in agreement with the study of (Peltonen et al., 2008), and further research is required. Panel data are elaborated by means of Eviews...

We study the relationship between opportunities for managerial diversion, corporate tax system parameters and the return on shareholder funds. Theoretically, in a simple game between corporate insiders and outsiders, higher costs of diversion increase the return. European firm-level data lend...

Monetary unions generally boost financial markets. But European private capital markets have progressed at an unsatisfactory pace even with the euro. What accounts for this? We focus on an increasingly key financial infrastructure: Rating Agencies (RAs). Taking an international perspective, we...

- A combined practical and theoretical comparison of UK and EU corporate finance law giving unique perspectives and a forward looking approach.- Addresses key issues arising from the financial crisis, such as the scope for innovation in legal markets, as well as anticipating issues likely to be...

Starting from the observation that at the multilateral level shareholder activism is considered as an important aspect of good corporate governance, this paper examines several legal and economic obstacles to institutional investor activism in the EU and in the US. We find that investors in the...

The recent European economic crisis has dramatically exposed the failures of the various institutional mechanisms in place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on fiscal and financial stability policies. Drawing on the...

Corporate boards play a central role in corporate governance and therefore are regulated in the corporate law and corporate governance codes of all industrialized countries. Yet while there is a common core of rules on the boards, considerable differences remain, not only in detail, but...

This paper contributes to the existing literature about the effects of Corporate Social Responsibility (CSR) on market valuation. In particular, we investigate the impact of sustainability reporting under the global reporting initiative (GRI) on the firm value of non-financial EUROSTOXX 600...

In the post-financial crisis regulatory reforms emphasis has been placed on creating recovery and resolution frameworks for banks, which ensure that the costs of failure are primarily born by shareholders, instead of taxpayers and the wider economy. Supervisors have (or will have) extensive...