corporate financial structure and financial stability

... determinants of corporate share ownership structures. 4 The literature emphasizes the roles of customs, social norms, and law and legal systems in shaping the structure of property rights and their ... meeting at Atlanta, and the 2001 Conference on Designing Financial Systems in East Asia and Japan organized by IMF and Hitotsubashi University. T.J. Wong acknowledges the financial support of ... regulators and policy makers to understand the causes of the low quality of reported accounting information in the region. This paper focuses on the relations between corporate ownership structure and

Ngày tải lên: 18/02/2014, 01:20

... collected from a structured questionnaire that was developed and sent to managers, staffs, and workers in both state-owned and privatized companies, we show that the people and market orientations ... model, which incorporates two sets of competing values along two axes: (1) the control/flexibility dilemma which refers to preferences about structure, stability, and change, and (2) the people/organization ... is going on inside and outside the organization respectively; (2) stability and control versus flexibility and discretion, which respectively favor keeping things the same and making changes

Ngày tải lên: 09/12/2022, 11:38

... collected from a structured questionnaire that was developed and sent to managers, staffs, and workers in both state-owned and privatized companies, we show that the people and market orientations ... model, which incorporates two sets of competing values along two axes: (1) the control/flexibility dilemma which refers to preferences about structure, stability, and change, and (2) the people/organization ... is going on inside and outside the organization respectively; (2) stability and control versus flexibility and discretion, which respectively favor keeping things the same and making changes

Ngày tải lên: 09/12/2022, 11:38

... market timing theory 16 2.2 Corporate financial performance 18 2.3 Factors affecting Corporate financial performance 20 2.4 Leverage 21 2.5 Leverage and Corporate financial performance 22 2.6 ... Singapore, Thailand and Vietnam 1.1.2 Significance of research Many models have been built to measure and predict factors affecting corporate financial performance Includes micro and macro factors ... study: - Practical application of Capital Structure and practical lessons from effective capital structure implementation - The Impact of Capital Structure and Financial Performance of companies listed

Ngày tải lên: 05/12/2023, 17:13

... Banking: Implications for Financial Stability and Regulatory Policy Franklin R Edwards and Frederic S Mishkin The views expressed in this article are those of the authors and not necessarily reflect ... systems, such as Switzerland and Germany, some banks have run into trouble Regional banks in Switzerland failed, and Germany’s BfG Bank suffered huge losses (DM 1.1 billion) in l992 and needed a capital ... Eli Remolona, Philip Strahan, and Betsy White for their comments and William Bassett for research assistance Discussants at the Symposium on Financial Instability and participants in a workshop

Ngày tải lên: 16/02/2014, 11:20

... determinant of the cost of capital and the yield on savings (Prati and Shinasi, 1997; McCauley and White, 1997). Similarly, differences in the size and structure of households’ and firms’ balance sheets ... (MTM) is the financial structure of the economy. Building on the BIS reports of 1994 and 1995, a number of economists have emphasised that cross-country differences in financial structure may ... in financial structure across euro area countries and their implications for the interest rate channel of the monetary transmission mechanism. It focuses on those differences in financial structure

Ngày tải lên: 15/03/2014, 14:20

... information in this Report was 18 May 2007. iv CGFS – Financial stability and local currency bond markets CGFS – Financial stability and local currency bond markets 1 A. Introduction ... globally systemic dimensions. Financial stability and bond markets Local currency bond markets can help financial stability by reducing currency mismatches and lengthening the duration of ... Philippines, Taiwan (China), and Thailand. 2 Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela. 3 The Czech Republic, Hungary, Poland and Russia. 4 South Africa and Turkey. Sources:

Ngày tải lên: 22/03/2014, 20:20

... prices on credit growth in France and tries to d isentangle credit demand and supply factors, both for the whole 1993-2010 period and d u r ing periods of financial instability. Using bank-level ... uses panel data instead of time series and identifies the different financial stability regimes using a financial stability indicator based on actual data and not by estimating a Markov regime ... C., and P Lowe, 2002, Asset prices, financial and monetary stability: exploring the nexus”, BIS Working Papers n°114, July Caporale, G., and N Spagnolo, 2003, Asset prices and

Ngày tải lên: 29/03/2014, 08:20

... between Financial Structures and Economic Outcomes? 164 Annex 4.2. Econometric Study on Financial Structures and Economic Outcomes: Data, Methodology, and Detailed Results 166 Annex 4.3. Financial ... Systemic Banking Crises and Financial Structure Variables: Probit Model 173 Figures 1.1. Global Financial Stability Map 2 1.2. Global Financial Stability Map: Assessment of Risks and Conditions 3 ... secure greater financial stability chapter 1 Global Financial Stability Assessment Risks to financial stability have increased since the April 2012 Global Financial Stability

Ngày tải lên: 29/03/2014, 13:20

... purpose is to understand how recognition versus disclosure in financial reporting affects both real actions—the number of ESOs granted and their contractual terms—and financial reporting decisions—managements’ ... estimation: volatility, dividend, and interest. This increase amounts to 4%, 2%, and 0.3% of fair value cost. Mandatory recognition firms also display increased dividend and interest input accuracy. ... face of financial statements and that are included in subtotal figures that appear in the summary accounts; disclosure refers to items that appear in words and amounts in only the financial

Ngày tải lên: 03/06/2014, 01:05

... World Economic and Financial Sur veys Global Financial Stability Report Global Financial Stability Report Sovereigns, Funding, and Systemic Liquidity OCT 10 Global Financial Stability Report, ... Uncertainty, Sovereign Risk, and Financial Fragilities A What Is the Outlook for Global Financial Stability? B Sovereign Risks and Financial Fragilities C Sovereign and Banking System Spillovers ... and Financial Sur veys Global Financial Stability Report Global Financial Stability Report Sovereigns, Funding, and Systemic Liquidity OCT 10 Global Financial Stability Report, October 2010

Ngày tải lên: 01/11/2014, 13:20

... Global Financial Stability Report, April 2010 Global Financial Stability Report Global Financial Stability Report World Economic and Financial Surveys I N T E R N A ... Meeting New Challenges to Stability and Building a Safer System World Economic and Financial Surveys Global Financial Stability Report Meeting New Challenges to Stability and Building a Safer System ... Outlook and Global Financial Stability Report xi Executive Summary xiii Chapter 1. Resolving the Crisis Legacy and Meeting New Challenges to Financial Stability 1 A. How Has Global Financial Stability

Ngày tải lên: 01/11/2014, 19:18

... models and affirms the positive relationship between the quality of governance system and the quality of financial reporting. Keywords:financial information, ownership structure, corporate ... May 2013 131 of governance and the quality of financial information as such, Demsetz and Lehn (1985) ; Hermalin and Weisbach (1991) ; Yermack (1996) and Haniffa (2002). However, it must ... theoretical and empirical studies have addressed this issue such as the study of Jensen (1993), Healy and Palepu, (2001), Ho and Wong, (2001), Chtourou, Bedard and Courteau 2001 Bujaki and McConomy,

Ngày tải lên: 06/01/2015, 19:47

... knowledge and expertise, (4) effectiveness, (5) power, (6) duties and responsibilities and (7) the association between board characteristics and earnings manipulation and fraud. Composition expand ... whether and how AC characteristics impact monitoring effectiveness The issue of how the expertise and financial literacy of... BRC, clarity and consistency of financial disclosures and ... THE CORPORATE GOVERNANCE MOSAIC AND FINANCIAL REPORTING QUALITY INTRODUCTION One of the most important functions that corporate governance can play is in ensuring the quality of the financial

Ngày tải lên: 06/01/2015, 19:49

... assist the board in developing and implementing appropriate compensation policies and programs that allow the firm to attract and retain capable and experienced managers and motivate them to meet shareholder ... work by Marston and Polei (2004), Ettredge et al. (2002) Debreceny et al. (2002), Deller et al. (1999) and Pirchegger and Wagenhofer (1999). According to the Financial Accounting Standards Board, ... behavior, agency costs and ownership structure”, Journal of Financial Economics, Vol 3 No 4, pp 30 5-3 60 Jones, M.J and Xiao, J.Z (2003), Internet reporting: current trends and trends by

Ngày tải lên: 06/01/2015, 19:49

... Impact of Crisis on the Level and Composition of GDP 12 B. Corporate Financial Structure and Impact of Crisis on GDP 14 V. Corporate Financial Structure and Financial Stability: Econometric Analysis ... III. Corporate Financial Structure for Industrial and Emerging Market Countries 7 A. Stock Data 7 B. Flow Data 10 C. Crises Data 11 IV. Corporate Financial Structure and Financial Stability: ... implications of corporate financial structure for financial fragility are measured here empirically by examining shifts in the size and composition of financial flows and expenditures by the corporate...

Ngày tải lên: 17/12/2013, 05:15

... Hubbard, and Bruce Petersen. 1988. “Financing Constraints and Corporate Investment.” Brookings Papers on Economic Activity 1: 141–95. FSF (Financial Stability Forum). “Compendium of Standards.” Financial ... Financial Structure and Development Assessment The measures chosen as quantitative indicators for financial structure and development assessment will naturally include basic indicators of financial ... provide the incentives to expand financial services. Both pru- dential and competition policies (including licensing and entry, exit and merger policies, and branching and similar regulations) should...

Ngày tải lên: 17/12/2013, 05:15

... were financially weakened and contracted their 65 Financial Crisis in the Great Depression country abandoned the gold standard in the middle of a year, it is included in both the gold and non-gold ... failures (notably Marx & Co.) and amalgamations. Heavy losses of one of the largest banks, Danske Landmandsbank, and liquidation of smaller banks. Landmandsbank continues to operate ... Ml, and M2, and of changes in the central bank discount rate. MO corresponds to money and notes in circulation, Ml is the sum of MO and commercial bank deposits, and M2 is the sum of Ml and...

Ngày tải lên: 22/03/2014, 20:21

... banking stability, that is, a reduction in the incidence and severity of banking panics. Branch banking diversifies, and deposit insurance protects against, both asset and withdrawal risks, and either ... system and comparative advantage in monitoring and enforcement. Notice that there is a subtle difference between the arguments of Calomiris and Kahn (1991) and Gorton (1989b). Calomiris and Kahn ... (1989a), Calomiris and Schweikart (1991), Chari and Jagannathan (1988), Gorton (1987, 1989b), Gorton and Mullineaux (1987), Jacklin and Bhattacharya (1988), Williamson (1989), and others, have...

Ngày tải lên: 22/03/2014, 20:21