Search Results - subject:"Financial Structure"

Financial structure, managerial compensation and monitoring

Cerasi, Vittoria; Daltung, Sonja - 2007

When a firm has external debt and monitoring by shareholders is essential, managerial bonuses are shown to be an optimal solution. A small managerial bonus linked to firm's performance not only reduces moral hazard between managers and shareholders, but also between creditors and monitoring...

Persistent link: https://www.econbiz.de/10010320757

Finance for growth: does a balanced financial structure matter?

Cuadro-Sáez, Lucía; García-Herrero, Alicia - 2007

the financial structure -in terms of the size of the banking system relative to the capital market- matters for economic … growth. We build upon the existing literature by constructing a new measure of the balancedness of the financial structure … more linear than existing ones. We find that a more balanced financial structure -in terms of the size of banks relative to …

Persistent link: https://www.econbiz.de/10010264897

Profitability of Western European banking systems: panel evidence on structural and cyclical determinants

Beckmann, Rainer - 2007

find that financial structure matters, particularly through the beneficial effect of the capital market orientation in the …

Persistent link: https://www.econbiz.de/10010295936

How will ageing affect the structure of financial markets

Davis, EP - 2007

in the light of the existing literature, suggests that demographic changes have had adetectable impact on financial … structure. Ageing tends to benefit bond markets relative to equitymarkets, while depressing private saving and external balances …

Persistent link: https://www.econbiz.de/10009481465

The dynamics of bank spreads and financial structure

Gropp, Reint E.; Sørensen, Christoffer Kok; … - 2007

This paper investigates the dynamics of the pass-through between market interest rates and bank interest rates in the euro area as a function of cyclical and structural differences in the financial system. We find that overall the speed of adjustment for loans is significantly faster than for...

Persistent link: https://www.econbiz.de/10011604760

Governance and Financial Structure of Unlisted Firms in Italy

Elena, Belli; Francesco, Giordano - In: L'industria (2007) 2, pp. 305-334

to have a more rigorous financial structure, with higher capitalisation, greater balance in the term structure of assets …

Persistent link: https://www.econbiz.de/10011158227

Profitability of Western European banking systems: panel evidence on structural and cyclical determinants

Beckmann, Rainer - Deutsche Bundesbank - 2007

find that financial structure matters, particularly through the beneficial effect of the capital market orientation in the …

Persistent link: https://www.econbiz.de/10005082802

CAPITAL MARKET AND BUSINESS CYCLE VOLATILITY

Tharavanij, Piyapas - Department of Econometrics and Business Statistics, … - 2007

This paper investigates cross-country evidence on how capital markets affect business cycle volatilities. In contrast to the large and growing literature of finance and growth, empirical work on the relationship between finance, particularly capital markets, and volatility has been relatively...

Persistent link: https://www.econbiz.de/10005064054

CAPITAL MARKET, SEVERITY OF BUSINESS CYCLE, AND PROBABILITY OF AN ECONOMIC DOWNTURN

Tharavanij, Piyapas - Department of Econometrics and Business Statistics, … - 2007

This paper investigates the relationships of capital market, severity of economic contraction, and probability of an economic downturn. The finding supports a theoretical prediction that countries with more advanced capital markets would face less severe business cycle output contraction, and a...

Persistent link: https://www.econbiz.de/10005064077

CAPITAL MARKET, FREQUENCY OF RECESSION, AND FRACTION OF TIME THE ECONOMY IN RECESSION

Tharavanij, Piyapas - Department of Econometrics and Business Statistics, … - 2007

This paper investigates the relationships of capital markets, frequency of recession, and fraction of time the economy is in recession. The main finding is that frequency of recession is not robustly linked to measures of capital market development. However, the fraction of time the economy...

Persistent link: https://www.econbiz.de/10005064100