Over the past two decades, financial market crises with similar features have occurred in different regions of the world. Unstable cross-market linkages during a crisis are referred to as financial contagion. We simulate crisis transmission in the context of a model of market participants adopting various strategies; this allows testing for financial contagion under alternative scenarios. Using...

How do board characteristics influence the risk of bankruptcy? We study this question by estimating classic Z-Score models using panel data comprising 2519 listed non-financial firms from 29 European countries over 2012–2020 period. found that independence is associated with lower bankruptcy. In contrast, employee representatives have an adverse effect on monitoring capacity and are predicted t...

the purpose of this paper is to study how the characteristics of successful managers are somehow related to their programme in co-operatives. the study shows there is a significant relationship between managers' characteristics such as innovation, authority and leadership, with managerial skills, self confidence and degree of success. however, there is no correlation between intelligence, ...

This paper investigates a sample of 100 MSEs across Guangdong province in China through a questionnaire survey to examine capital structures at start-up and expansion stages and characteristics of business, and herein tests theories in the context of financial management. Our findings provide substantial support for the pecking order theory and the financial growth cycle model. Results also exp...