China has made remarkable gains in industrialization and development. Over the past three decades, it has maintained gross domestic product (GDP) growth of about 9 percent per year and lifted more than 400 million people out of poverty. Entering the 21st century, China is determined to ensure...

We review the literature on the issuance motives, shareholder wealth effects, and design of convertible bonds. Empirical studies on convertible debt issuance mainly focus on testing the predictions of four traditional theoretical models based on convertibles' potential to mitigate agency or...

Se refiere a las lecciones que pueden extraerse de la experiencia de otras regiones para diseñar un eficiente programa de reestructuración patrimonial.

Countries that have experienced banking crises have adopted oneof two distinct approaches toward the resolution of non-performing assets-a centralized or a decentralized solution. A centralized approach entails setting up a government agency-an asset management company-with the full...

We study the determinants of stock market development and the growing migration of capital raising, listing and trading activity to international exchanges. Economies with higher income per capita, sounder macro policies, more efficient legal systems with better shareholder protection, and more...