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How does banking market power affect bank opacity? Evidence from analysts' forecasts
Whilst the ongoing banking regulatory reforms towards a comprehensive Basel III framework emphasise bank transparency, disclosure and a competitive banking market environment, very little is known about the empirical ...
Information Asymmetry, Leverage and Firm Value. Do crisis and growth matter?
Drawing on pecking order and agency cost theories, we assess the extent to which information asymmetry is an important determinant of firm value and the extent to which this relationship is conditional on the leverage level ...
Capital structure revisited. Do crisis and competition matter in a Keiretsu corporate structure?
We investigate firm-level determinants of capital structure using a large sample of 4,284 Japanese firms over a nineteen-year period (i.e., over 61,000 firm-year observations), a hitherto less examined sample for this ...