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Financial Regulations, Structure of Financial Systems and Capital Structure
SSRN Electronic Journal, 2012Financial regulations distort normal functioning of a financial system through various channels. When these systems are reformed/deregulated on the lines of liberal markets, there will be structural adjustments and these adjustments will in turn cause various market/economic forces to behave on the lines that are expected in a liberal free market ...
Nemiraja Jadiyappa, Amarnath Mitra
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FINANCIAL STRUCTURE AND FINANCIAL STRATEGY
Journal of Financial Research, 1984AbstractEven if the value of the firm is unaffected by its capital structure, managers may have reasons to choose a particular structure. The prices of the firm's securities reflect the “market's” assessment of the value and riskiness of the firm. Should managers disagree with the market's assessment of the firm's risk or value, they will also disagree
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FINANCIAL STRUCTURE AND THE THEORY OF PRODUCTION
The Journal of Finance, 1970ANY BUSINESS ENTERPRISE in the course of its operations must make at least three kinds of distinct decisions. First, it must decide upon a production plan-i.e., how much to produce and the choice of productive factors by which this may be optimally achieved.
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FINANCIAL STRUCTURE AND INDUSTRIAL STRUCTURE
Bulletin of Economic Research, 2010This paper explores the relationship between financial structure and industrial structure in a panel cointegration framework, using annual data for 29 countries and 28 industrial sectors for the period 1990–2001. The results indicate that financial structure is to a significant extent related to industrial structure in the long run, yet their ...
Apergis, Nicholas +2 more
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The corporate structure of financial conglomerates
Journal of Financial Services Research, 1990This article considers the public policy issues regarding the appropriate corporate structure of a firm that provides basic banking services along with other financial services. We refer to such firms as financial conglomerates—a category that includes universal banks, multiproduct bank holding companies, and other diversified financial firms that ...
Richard J. Herring, Anthony M. Santomero
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A Model of Financial Structure and Financial Fragility
Journal of Money, Credit, and Banking, 2002This paper presents an asymmetric information model of financial structure. The model has two types of financial institutions: banks (traditional intermediaries) and securities markets, both of which can hold loans made to firms to finance investments. The securities markets raise money at lower cost, but they suffer a lemons problem because the banks ...
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Financial Repression and Structural Financial Power
2013This chapter analyzes the structural financial power potential of the developmental state. Section 3.1 provides an overview of the political economy of Japan’s postwar financial system and the pressures that resulted in its gradual liberalization. Section 3.2 looks into the political economy of China’s system of financial repression and enquires into ...
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Financial and Industrial Structure with Agency
Review of Financial Studies, 1995A sub game perfect Nash equilibrium is characterized for an industry with dissipative costs of agency. In sequence, firms can enter the industry, raise capital with external debt and/or equity, invest in a capital-intensive technology or dissipate capital in perquisites, and finally produce output. For plausible values of two critical parameters, some,
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Managing financial structure in financial turmoil
2011One of the most important questions for a company is the ability of managing its financial and capital structure. The global crisis gives us new evidence on how companies manage their leverage in difficult times and gives us important answers for the future.
Učkar, Dean, Carlin, Sven
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