This study investigates the role of financial structure on the volatility of four asset prices in Korea. First, historical development of size, activity and efficiency of financial structure is investigated and development of non-bank financial institutions analyzed for the last three decades. Second, using the concept of bank-based and market-based financial structure, it is shown that there e...

It is shown that the concept of financial law has the structure of an automaton. Furthermore, a financial law induces a group structure into the monoid of the automaton. The concepts of stationary, stationary of order n, and dynamic financial laws are deduced, proving two algebraic characterizations. Finally the concept of a-stationary financial law and some applications are introduced. 2001 Jo...

Based on a comprehensive review of previous studies about the threshold effects of financial development on the process of foreign direct investment (FDI) spillovers, the present work roundly measures the financial development from the aspects of scale, structure, and efficiency and applies a multiple threshold regression model to estimate the threshold effects of financial development on FDI s...

This paper investigates the determinants of capital structure of financial service firms in China. Using a relative regression of accounting data for 36 A-share financial listed companies over the years 2005-2009, an empirical study on determinants of capital structure in financial industry is conducted. The results show that profitability, firm size, non-debt tax shields, earnings volatility a...

The most important tool for promoting the bank’s stability and health is the establishment of a standard corporate governance structure for managing the bank's business. Redesigning the relationships between bank management, shareholders and the rest of the bank’s stockholder, including the objectives, the risk and audit indices, and internal control of the bank, is recognized as the foundation...

While airline profitability has remained a challenge over several years, the weakest performance identified by IATA reports was from airlines in Africa and Latin America. The main objective of this study to determine effect leverage, liquidity, asset tangibility on firm flag carriers Africa. Stratified random sampling technique adopted reduced working population 23 firms 4 namely Kenya Airways,...