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The Impact of Corporate Governance Structures on the Agency Cost of Debt

The Impact of Corporate Governance Structures on the Agency Cost of Debt »

Source: The Impact of Corporate Governance Structures on the Agency Cost of Debt

Volume/Issue: 2001/204

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874501

Keywords: agency cost of debt, exit decision, shareholders, equation, shareholder, corporate governance structures, Corporate Finance And Governance,

This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control...

Fiscal Rules at a Glance

Fiscal Rules at a Glance »

Source: Fiscal Rules at a Glance : Country Details from a New Dataset

Volume/Issue: 2012/273

Series: IMF Working Papers

Author(s): Nina Budina , Tidiane Kinda , Andrea Schaechter , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 November 2012

ISBN: 9781616359102

Keywords: fiscal governance, rules, legislation, federal budget, legal obligation, regulation, Structure and Scope of Government, Deficit,

This paper provides country-specific information on fiscal rules in use in 81 countries from 1985 to end-September 2012. It serves as background material and update of the July 2012 Working Paper 'Fiscal Rules in R...

Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management

Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management »

Source: Sovereign Wealth Funds : Aspects of Governance Structures and Investment Management

Volume/Issue: 2013/231

Series: IMF Working Papers

Author(s): Abdullah Al-Hassan , Michael Papaioannou , Martin Skancke , and Cheng Chih Sung

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 November 2013

ISBN: 9781475518610

Keywords: governance structure, investment management, macroeconomic coordination, investment strategy, investment strategies, Portfolio Choice,

This paper presents in a systematic (normative) manner the salient features of a SWF‘s governance structure, in relation to its objectives and investment management that can ensure its efficient operation an...

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability »

Source: Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability - Technical Background Papers

Second-Generation Fiscal Rules: Balancing Simplicity, Flexibility, and Enforceability - Technical Background Papers »

Source: Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and Enforceability

Volume/Issue: 2018/4

Series: Staff Discussion Notes

Author(s): Luc Eyraud , Xavier Debrun , Andrew Hodge , Victor Lledo , and Catherine Pattillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484350683

Keywords: Debt, Fiscal policy, Fiscal rules, deficit bias, fiscal governance, Structure and Scope of Government, Deficit

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fisca...

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF

Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF »

Source: Statement by the Managing Director on the Independent Evaluation Office Report on Governance of the IMF

Volume/Issue: 2018/045

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2018

ISBN: 9781498309660

Keywords: Governance, IMF Structure and Governance, Press Release - Independent Evaluation Office, Risk management, Stocks, Emerging markets, Financial crises, Goods, IEO, accountability

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative update on the 2008 report on governance of the IMF. It is reassuring that the Update recognizes the significant progress...

Fiscal Rules in Response to the Crisis

Fiscal Rules in Response to the Crisis »

Source: Fiscal Rules in Response to the Crisis : Toward the "Next-Generation" Rules: A New Dataset

Volume/Issue: 2012/187

Series: IMF Working Papers

Author(s): Nina Budina , Andrea Schaechter , Anke Weber , and Tidiane Kinda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505351

Keywords: fiscal governance, budget balance, national fiscal rules, fiscal rule, Structure, Scope, and Performance of Government, National Deficit Surplus,

Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - co...

The Stock Market and the Financing of Corporate Growth in Africa

The Stock Market and the Financing of Corporate Growth in Africa »

Source: The Stock Market and the Financing of Corporate Growth in Africa : The Case of Ghana

Volume/Issue: 2006/201

Series: IMF Working Papers

Author(s): Charles Amo Yartey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2006

ISBN: 9781451864618

Keywords: corporate growth, stock market, stock exchange, capital structure, external equity, equity ratio, Corporate Finance and Governance: General,

This paper examines the corporate financing pattern in Ghana. In particular, it investigates whether Singh's theoretically anomalous findings that developing country firms make considerably more use of external fin...

Statement by The Managing Director on the Work Program of The Executive Board

Statement by The Managing Director on the Work Program of The Executive Board »

Source: Statement by The Managing Director on the Work Program of The Executive Board

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2019

ISBN: 9781498326629

Keywords: External sector, Multiple currency practices, Central bank governance, Interest rate structures, International financial markets, capacity development, resilience, briefing, IEO, IMF

This Work Program translates the strategic directions and policy priorities laid out in the Spring 2019 Global Policy Agenda and the International Monetary and Financial Committee Communiqué into an Executive Board...

Reforming the Corporate Governance of Italian Banks

Reforming the Corporate Governance of Italian Banks »

Source: Reforming the Corporate Governance of Italian Banks

Volume/Issue: 2014/181

Series: IMF Working Papers

Author(s): Nadège Jassaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2014

ISBN: 9781484387511

Keywords: foundations, cooperatives, MPS, ownership structure, profitability, distressed assets, Banco Popolare, banking, shareholder, bank governance

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the...