• Title of article

    Legal institutions and financial system orientation

  • Author/Authors

    Julan Du، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2005
  • Pages
    5
  • From page
    15
  • To page
    19
  • Abstract
    This paper explains why weak-institution economies typically adopt bank-oriented financial systems by arguing that bank financing may harden firmsʹ budget constraints (thanks to the unique financial structure of banks, which makes up for the weak corporate governance under inadequate legal institutions).
  • Keywords
    Soft budget constraints , Banks’ capital structure , Financial system orientation , Corporate Governance
  • Journal title
    Economics Letters
  • Serial Year
    2005
  • Journal title
    Economics Letters
  • Record number

    435629

    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=435629