We develop a theory and empirical test of how the legal system affects the relationship between venture capitalists and entrepreneurs. The theory uses a...
In the context of the global market for syndicated bank loans, we provide evidence that the collapse of international markets during financial crises...
We examine the multi-faceted effect of creditor rights on the way banks monitor, operate and finance themselves. We present a simple analytical model...
The debate on banking regulation has been dominated by flawed and misleading claims. Such claims provided the basis for poorly designed rules. Despite...