This paper examines how borrower firm characteristics affect syndicate size structure in the Japanese loan market for the 1999-2003 period when the banking system is undergoing a major consolidation. We find that syndicates are smaller when borrowers have higher credit risk and when borrowers...

Using a unique data set on all industrial firms listed on Korea Stock Exchange and KOSDAQ stock market from 1991 to 2000, we find that cash ratios for chaebol firms are lower than for non-chaebol firms. Controlling for access to the bond market and financial services arms does not change this...

I examine the relation between Tobin's Q and the structure of foreign equity ownership for a sample of 945 industrial firms listed in the 1st Section of the Tokyo Stock Exchange. I find evidence of significant curvilinear relation between Q and the fraction of common stocks owned by foreigners...

This paper examines the capital allocation within Korean chaebol firms during the period from 1991 to 2000. We find strong evidence that, during the pre-Asian financial crisis period in the early 1990's, poorly performing firms with less investment opportunities invest more than well-performing...

We examine the size and composition of commercial lending syndicates. Syndicates are smaller and more concentrated when there is little information about the borrower, when credit risk is relatively high, and when a loan is secured. This suggests syndicates are structured to enhance monitoring...

The paper analyses the agricultural transformation in ten Central and Eastern European countries between 1990 and 2010. We provide evidence that despite of diversity of farm structure, heterogeneous preconditions in agricultural policy and economic policy reforms these countries follow the Lewis...

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In this paper, we comprehensively describe spatial patterns of long-term changes in Indian agriculture at the district level. Variables of concern include the land use intensity, the ratio of rice and wheat in areas under foodgrains, the ratio of non-foodgrains in gross cultivated area, the...

We use a spokes model to analyze ?ms?customization incentives when facing the choices of standard and niche products. Products at or near the end of the spokes are customized products, while products near the origin are more standardized products that cater to the taste of many consumers. Our...

A question largely left unanswered in previous studies of firms’ use of HRM practices, and the consequences thereof, is why some firms adopt these practices while others do not. We examine empirically the determinants of firms’ demand for HRM pay, work and training practices with a special...