Theoretical work suggests an ambiguous relationship between the strength of institutions and the distribution of access to finance. Using a sample of listed firms from 70 countries, this study constructs country-level measures of inequality in access to external finance, and explores its...

This paper examines the performance of real estate stocks listed in seven developing markets in East Asia between 1992 and 2002. Using panel regressions, the goal is to identify determinants of the risk-adjusted returns of real estate securities traded in these markets. The empirical evidence...

Collective action at impersonal scale involves losses to autonomy by definition because of the need to centralize some measure of authority. This stands as an important cost to collective action that varies in predictable ways depending on the extent of organizational choice available to...

During the past decades, corporate law and corporate governance debates have generally been skeptical of elements of economic ‘Nationalism’ or ‘protectionism.’ Arguably, globalization and convergence in corporate governance have resulted in a reduction of protectionist policies. However,...

This study measures and analyzes the liquidity differences between Real Estate Investment Trusts (REITs) and other common stocks. The intraday variations documented in this study have implications for the appropriate timing of trades to minimize transaction costs and the substitutability of...

If banks' performance is to be be evaluated against the objectives they actually pursue, assessments of stakeholder-oriented banks should go beyond financial efficiency. Furthermore, also the environment these institutions operate in has to be kept in mind when interpreting levels of managerial...

This study analyse the trends in deposits and credit deployments of Regional Rural Banks (RRBs) in the State of Karnataka during the post reform period (March 1992- March 2008). Basic data for this study were collected from the various issues of Basic Statistical Returns of Scheduled Commercial...

Credit rationing arising out of informational asymmetry and lack of collateral is a well-recognised economic constraint in the credit market. These constraints get magnified for small businesses. This paper attempts to capture the dimension of trustworthiness (calculative trust) by designing a...

The purpose of this research is to examine the impact of microfinance bank credit and its debt servicing on the profitability of SMEs in Alimosho Local Government Area, Lagos State, Nigeria. A survey was carried out involving 387 SMEs in Alimosho LGA, Lagos State and information was extracted...