The explicit or implicit protection of banks through government bail-out policies is a universal phenomenon. We analyze the competitive effects of such policies in two models with different degrees of transparency in the banking sector. Our main result is that the bail-out policy unambiguously leads to higher risk-taking at those banks that do not enjoy a bail-out guarantee. The reason is that ...

This study investigates the E-mineral rights trade market in China. This market could improve information disclosure, transparency and efficiency of mineral rights. In China, all mineral resources belong to the country, so this Electronic trade market is both E-business and E-government. Their subjects include departments of land and resources administration, government departments, State-owned...

Objective: There is a large theoretical literature regarding stock market manipulation. However, empirical evidence of manipulation remains scare especially in emerging markets like Iran. So, it is vital to detect and prevent. Manipulation distorts prices, thereby reducing market efficiency and harms public confidence. Distorted prices increase market volatility and risk. This study empirically...

The Internet has brought about significant changes in the availability of market information in many industries. E-commerce technologies provide sellers with opportunities to design electronic mercantile mechanisms that reveal, conceal, bias, and distort market information, depending upon their goals and market position (e.g., suppliers versus intermediaries). In particular, in information-inte...

The wide diffusion of information and communication technologies (ICT) over the last few decades has modified the way in which individuals and institutions interact and conduct social and business activities. We analyze the importance of a firm’s information transparency, defined as the degree of completeness of information, regarding their own business activities, provided by each company to t...

Transparency is a concept that is widely shared, but with a wide spectrum of distinct interpretations. We have been working on nailing down the transparency concept within the organizational context. As such, we have created a conceptual model of transparency, focusing on its relationships with other qualities (accessibility, usability, understandability, informativeness and auditability). Depa...

I. Conceptual studies of market liquidity Dupont, D " The effects of transaction costs on depth and spread " Gravelle, T " The market microstructure of dealership equity and government securities markets: how they differ " Muranaga, J and Shimizu, T " Market microstructure and market liquidity " Ui, T " Transparency and liquidity in securities markets " II. Empirical studies of market liquidity...