We present a theoretical framework for studying how the cross holdings of credit asset securitization (CAS) products may affect systemic risk in banking. We demonstrate that cross holdings can be understood from the perspective of pursuing profit and credit creation; these motives drive up...

This study examines the impact of negative interest rate (NIR) regimes on corporate tax behavior. We argue that NIRs act as a de-facto tax levied by central banks and investigate how this ‘tax’ affects banks’ corporate tax planning. Using a sample of domestic banks in OECD countries and a...

Foreword -- Chapter I: Evolutionary Trajectory of China’s Financial Sector over Seven Decades.-Chapter II: Evolutionary Trajectory of Financial Institutions in China -- Chapter III: Structure and Evolution of China’s Financial Market System -- Chapter IV The Evolutionary Trajectory of the...