Comparing Financial Systems

Comparing Financial Systems

4.11 - 1251 ratings - Source

Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.The main internal governance system is the board of directors, and the main external governance system is the market ... of shares in Japan means that even though there are no legal impediments to hostile takeovers, they do not occur. It has been widely argued that the main bank system has substituted for the standard Anglo-American corporate governance systems. In this system, a large bank, which is a major provider of funds to the firm, monitors its activities and ensures that theanbsp;...

Title:Comparing Financial Systems
Author:Franklin Allen, Douglas Gale
Publisher:MIT Press - 2000


You Must CONTINUE and create a free account to access unlimited downloads & streaming