Financial Development and Dynamic Investment Behavior: Evidence From Panel Vector

... and information flow, many authors examine internationally cross- listed stocks and check whether their price behavior is different from that of non -cross- listed stocks, given their different information- flow ... residuals extracted from the regression of local close-to-close return on prior-day NYSE open-to-close returns (for Asia-Pacific stocks) or 11:30 am — NYSE close re...

Ngày tải lên: 23/04/2014, 16:29

... severe financing constraints before financial liberalization, and face financing constraints of the same order as large firms after financial liberalization In addition, we find some evidence ... empirical work, we consider several, related definitions of financial liberalization Our basic classification of financial liberalization uses the level of the financial lib...

Ngày tải lên: 21/04/2016, 13:14

... efficient industrial capital accumulation The study owes a great deal to the reflection recently offered by Rajan and Zingales (1999) on the issue of financial development and industrial change ... allocation and asset pricing under incomplete trust In section the model is used to analyze the effect of financial infrastructural development on industrial capital accu...

Ngày tải lên: 27/01/2014, 11:20

... PAPER NO 178 Information Sharing and Credit: Firm-Level Evidence from Transition Countries Martin Brown*, Tullio Jappelli** and Marco Pagano*** Abstract We investigate whether information sharing ... to firm-level information on credit availability taken from the EBRD/World Bank Business Environment and Enterprise Performance Survey (BEEPS) 3.1 Information S...

Ngày tải lên: 06/03/2014, 08:20

... D and L Laeven, “Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market,” IMF Working Paper 08/106, 2008 Dell'Ariccia, G and R Marquez, Lending Booms and Lending Standards, ” ... policy) and long-term interest rates on lending standards – and especially on loan risk-taking – depends on securitization activity and banking regulation superv...

Ngày tải lên: 06/03/2014, 14:20

Ngày tải lên: 07/03/2014, 14:20

... Geographic and Demographic Bank Outreach: Evidence from Germany’s Three-Pillar Banking System Alexander Conrad, Doris Neuberger and Maria Schneider-Reißig, University ... Evidence from Germany’s Three-Pillar Banking System I Introduction The performance of financial systems has been usually measured by variables of financial sector depth and banking sec...

Ngày tải lên: 22/03/2014, 21:20

... whether, how and why banks change their lending standards For indirect evidence on short-term rates and risk-taking, see Bernanke and Kuttner (2005), Rigobon and Sack (2004), Manganelli and Wolswijk ... rates Banking regulation and supervision standards Now we analyze whether the impact of low rates on the softening of standards is lower with stronger regulation supe...

Ngày tải lên: 29/03/2014, 13:20

... over the spending in the larger county that they were a part of in the previous year For the average county in Brazil, this translates into a 20% increase in expenditures Thus the story of water ... still the possibility of bias arising from the non-random re-districting of counties, which we discuss in greater detail in the next section, and add...

Ngày tải lên: 29/03/2014, 14:20

... Industry Consolidation and Price-Cost Margins Evidence from the Pulp and Paper Industry Abstract In recent years, the U.S pulp and paper industry has experienced an increasing degree of consolidation ... and Paper Industry I Introduction In recent years, the U.S pulp and paper industry has undergone a series of mergers and acquisitions which...

Ngày tải lên: 01/04/2014, 00:20

... of Audit Quality in China 1.2 Objectives of the Thesis 1.3 Contributions of the Thesis 10 1.4 Organization of the Thesis 11 Chapter State Ownership, Audit Quality and Earnings Management in China ... me; And as You did not lose them in the giving, so I not lose them in the return." Management Ownership Structure, Audit Quality and Impairment of Asset...

Ngày tải lên: 01/06/2014, 14:02

Ngày tải lên: 06/10/2014, 14:20

... 0.11 -0 .03 (9) Own -0 .10 0.03 0.13 0.20 -0 .23 -0 .24 0.04 -0 .21 (10) Block 0.04 0.18 0.17 0.18 0.05 -0 .05 0.12 0.10 0.36 (11) FirmSize 0.02 -0 .02 -0 .01 0.13 0.32 -0 .04 0.04 0.47 -0 .04 -0 .01 (12) FirmAge ... 0.14 0.01 0.16 -0 .09 0.14 0.02 -0 .02 0.04 (13) State 0.10 0.17 -0 .12 -0 .03 0.25 0.19 0.03 0.20 -0 .45 -0 .22 0.10 0.21 -0...

Ngày tải lên: 02/01/2015, 17:34

... http://ssrn.com/abstract=1764343 The effect of mandatory audit firm rotation on audit quality and audit fees: Empirical evidence from the Korean audit market INTRODUCTION Whether audit firm rotation should be mandatory ... The effect of mandatory audit firm rotation on audit quality and audit fees: Empirical evidence...

Ngày tải lên: 06/01/2015, 19:43

... types of audit opinion from the Big Four and Non-Big Four audit firms for the period of ten years; To examine the association of audit opinion and audit rotation (mandatory rotation of audit ... partner and voluntary rotation of audit firm) for the period of ten years; To examine the association of audit rotation (mandatory rota...

Ngày tải lên: 06/01/2015, 19:44