Safety monitoring, capital structure, and “financial responsibility”

Financial regimes , capital structure , and growth

We develop a growth model with endogenous technological progress in which the financial sector plays an explicit role. Thereby we discuss the role of different financial regimes in the growth process. We contrast a bank-dominated financial system with a market-dominated system. In the first one a financial intermediary (a bank) is able to solve informational problems, however, at a cost. There ...

Financial integration and emerging markets capital structure

0378-4266/$ see front matter 2010 Published by doi:10.1016/j.jbankfin.2010.10.017 ⇑ Corresponding author at: School of Business an Integration Studies, Trinity College Dublin, College G +353 1 8961522; fax: +353 1 6799503. E-mail addresses: [email protected] (B.M. Lucey), qzha This paper investigates the impact of country-level financial integration on corporate financing choices in emerging econom...

Three essays on earnings management, financial irregularities, and capital structure

This thesis comprises of three essays. The first essay is titled ‘Do Acquiring Firms Manage Earnings?’ and is co-authored with Professor Anand M. Vijh. The second essay is titled ‘Do Firms Have a Target Leverage? Evidence from Credit Markets’ and is joint work with Professors Anand M. Vijh and Redouane Elkamhi. The third is essay is single authored and titled ‘Bondholder Wealth Effects of Fraud...

Corporate Social Responsibility and Corporate Financial Performance: Evidence from Indian Capital Market

Does Financial Market Structure Impact the Cost of Raising Capital?

We examine the impact of secondary market structure and liquidity on the cost of raising capital. In the 1990s trading on Nasdaq transformed from a dealer-oriented over-the-counter market to a market where investors could directly interact with each other. The Order Handling Rules (OHR) reforms that accomplished this were phased in across Nasdaq stocks over time allowing for identification of t...