The Observatory for Regulated Savings submitted its first annual report to the Government and Parliament focusing on the reform granting all banks the right to distribute “A” passbook savings accounts.

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

The focus of this article is on the issue of culture in banking and the problems for Trust and Confidence it has caused in recent years most especially in the UK. A new paradigm of research and public debate is emerging which focuses on culture and incentive structures in banking. It seeks to...

The focus of this article is on the issue of culture in banking and the problems for Trust and Confidence it has caused in recent years most especially in the UK. A new paradigm of research and public debate is emerging which focuses on culture and incentive structures in banking. It seeks to...

First externalities risk due to the size of the companies or the principle that large companies are also at risk of bankruptcy (too big to fail) are examined. The problem is illustrated by a case in which extreme risks with negative consequences for savers and investors are taken. If we...

We investigate the effect of financial liberalization on the probability of a banking crises in economies with poor transparency We construct a model with imperfect information where banks cannot distinguish between aggregate shocks on the one hand, and government’s policy and firms’...

The study of transparency is increasingly a more topical, broadly relevant, but also more under-researched enterprise. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a series of yet unresolved debates, but has also linked...

On the basis of these exhaustive considerations we ascertain that the control is an attribute of the company’s management, a function of the management and, at the same time, it is an independent activity. As a management function, the control endorses the parameters maximisation that refers...

Stochastische Grundlagen für das Risikomanagement von Kreditportfolien Neuere Entwicklungen im Portfolio- und Risikomanagement sind von der Suche nach quantitativen Modellen für die Risikobeurteilung motiviert. Mertons Firmenwertmodell wird in einem Portfoliokontext dargestellt. In diesem...