Transparency, Governance and Markets

Theoretical and empirical research of these last decades is working on the positive and normative side in order to deepen its understanding of financial market dynamics and to tackle new and old challenges with the ambitious goal of limiting fragilities and inefficiencies. Contributions collected in this book represent a valuable and remarkable endeavour in this direction covering different topics. A first one is related to the aggregate relationship between development of financial markets and economic growth. A second topic covered is credit risk. A third important topic is related to the measure of risk in equity and bond markets. Finally, a fourth field covered is the one investigating behavior and efficiency of banking intermediaries. Overall, contributions collected in the book provide updated evidence and cover new theoretical issues arising in the field. It provides some new solutions but also highlighting new and emerging problems and creating new questions for further theoretical and empirical research. It highlights new and emerging problems. It provides up-to-date evidence and solutions. It serves as an invaluable reference for all those interested in financial market dynamics.

ISBN 0444527222   Pages 432 ISBN13 9780444527226 (What's this?)   Volumes 1 Publisher Emerald Group Publishing Limited   Weight (grammes) 780 Imprint Elsevier Science Ltd   Published in Kidlington Format Hardback   Height (mm) 234 Publication date 30 Jun 2006   Width (mm) 156 Library of Congress HG4523.T72, 2006048543   Spine width (mm) 23 DEWEY 332.0415   Academic level Tertiary education DEWEY edition DC22

1		Theoretical explanations of why banks promise to pay par on demand by Gerald P. Dwyer, Jr. and Margarita Samartin		1
2		Productivity and efficiency measurement using parametric econometric methods by Subal C. Kumbhakar		21
3		Firm, market and strategic factors in venture capital exits by Douglas J. Cumming and Jeffrey G. MacIntosh		67
4		Financial development, inflation uncertainty and growth volatility by Robert Lensink and Bert Scholtens		95
5		Mathematical characterization of behavioral market dynamics : from stylized agents to aggregate price processes by Michele Bagella and Rocco Ciciretti and Gabriele Susinno		113
6		Conditional asset pricing model : an application to the Korean stock market by Sungho Choi and Rifat Gorener and John R. Norsworthy		137
7		Dividend policy of bank initial public offerings by Wolfgang Bessler and James P. Murtagh and Dona D. Siregar		187
8		Financial sector development and growth : re-examining the nexus by George Mavrotas and Sang-Ik Son		217
9		The (corporate) equity risk premium/(corporate) bond risk premium nexus in the U.S. market by Leonardo Becchetti and Andrea Carpentieri and Rocco Ciciretti and Nazaria Solferino		243
10		Asset and default correlations between non-financial corporations : evidence from the Italian stock market by Cristiano Zazzara and Zeno Rotondi		263
11		Margin requirements with intraday dynamics by John Cotter and Francois Longin		291
12		Nonparametric techniques to validate credit classification models : an empirical analysis by Simone Borra and Stefano Caiazza and Stefania Di Giacomo		319
13		Transparency, institutional framework and capital structure : international evidence from industry data by Natalia Utrero-Gonzalez		343
14		Money laundering and financial offshore centres : a political economy approach by Donato Masciandaro		371
15		Networks and stock market integration : empirical evidence by Iftekhar Hasan and Heiko Schmiedel		391

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