This article identifies the problems and malfunctions of the Chinese apartment ownership regime that necessitates its formalization. The benefits of formalizing the apartment ownership, such as resolution of the social housing problem, and establishment of the mortgage-backed real estate market,...

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features affecting...

Building on the pioneering study by Beck, Demirguc-Kunt and Levine (2006), we examine the effects of media ownership and concentration on corruption in bank lending. Using the unique World Bank dataset covering more than 5,000 firms across 59 countries, we find strong evidence that that state...