Firm-Specific Variation and Openness in Emerging Markets

Firm-Specific Variation and Capital Openness

* Doctoral Student, The University of Alberta Business School, Edmonton, Canada T6G 2R6. Tel: (780) 492-5435. Fax: (780) 492-3325. E-mail: [email protected]. ** Stephen A. Jarislowsky Distinguished Professor of Finance, School of Business, University of Alberta, Edmonton, Alberta, Canada, T6G 2R6. Tel: (780) 492-5683. Fax: (780) 492 3325. E-mail [email protected]; Research Associate, Nati...

Emerging Markets Financial Openness and Financial Development

We examine the effect of financial openness on the development of financial systems in a panel of 35 emerging markets during the period of 1976 to 2003. A group of indicators including variables from banking sector, stock market, and national capital accounts are used as measures of financial openness and financial development. In addition, aggregate index measures are developed to incorporate ...

Firm - Specific Factors and the Degree of Innovation Openness

This chapter investigates the topic of how open innovation is actually implemented by companies, according to a conceptual approach in which open and closed models of innovation represent the two extremes of a continuum of different openness degrees; though, these are not the only two possible models. By means of a survey conducted among Italian manufacturing companies, this chapter sheds light...

Are firm- and country-specific governance substitutes? Evidence from financial contracts in emerging markets

We investigate how borrowers’ corporate governance influences bank loan contracting terms in emerging markets and how this relation varies across countries with different country-level governance. We find that borrowers with stronger corporate governance obtain favorable contracting terms with respect to loan amount, maturity, collateral requirements, and spread. Firm-level and country-level co...

Black Markets, Openness, and Central Bank Autonomy