Which of the following factor is not responsible for capital markets globalization$/$integration

Question $1$ options:

Cross$-$border securitization

Financial disintermediation

Financial deregulation

Tax evasion and tax havens

Increased currency convertibility

Basel $2\mathrm{.}5$ agreement

Question $2(1$ point$)$

Which of the following is not a financial intermediary:

Question $2$ options:

Hedge fund

Commercial bank

Internet

Savings and Loans

Bank of International Settlements

Question $3(1$ point$)$

What are the functions performed by the main bank in Japanese finance?

Question $3$ options:

Bank as all purposes lenders to affiliated firms

Bank as shareholder to establish a base of long$-$term, stable shareholding of affiliated firms.

Bank as stable shareholders vote with management in cases of minority shareholder dissidence or hostile takeover attempts.

Bank as lenders of last resort when affiliated firms are facing bankruptcy.

None of the above.

All of the above.

Question $4(1$ point$)$

The key function performed by a country's financial sector is

Question $4$ options:

To fund a "pay$-$as$-$you$-$go$"$ national pension scheme

To facilitate financial disintermediation

To channel excess cash savings into value creating investment

To fund the country defense budget

To provide alternative conduits through which excess cash savings can be channeled into value$-$creating investment

Question $5(1$ point$)$

Why has Asia been slow to develop a bond market?

Question $5$ options:

Governments do not run large and persistent budget deficits which require large scale issuance of Treasuries

Financial intermediation is dominated by banks

Pension system is "pay$-$as$-$you$-$go$"$ rather than capitalized

Private sector is dominated by conglomerate often controlled by the founding family

Ill$-$developed legal infrastructure for coping with bond defaults and corporate bankruptcies.

a$.,$ b$.$ and e only

All of the above.

Question $6(1$ point$)$

Which of the following arenot the principal sources of financing available to firms that find themselves in a cash$-$deficit situation?

Question $6$ options:

Debt $($bonds$),$ or hybrids $($convertible bonds and preferred stocks$)$

Cash generated from operations net of interest and principal $($re$)$payment on outstanding debt and dividends paid to shareholders.

Equity $($stocks$)$

Loans from banks.

Stock repurchases

Question $7(1$ point$)$

What are the differences between relationship$-$based governance and rules$-$based governance?

Question $7$ options:

Rules$-$based governance is an arm's$-$length, market$-$based system, rooted in transactions based on impersonal, explicit agreements under a corporate legal or securities regulatory regime, which the state $($as a third party$)$ can enforce.

Rules$-$based governance is predicated on disclosure and transparency and so relies heavily on public information. Fixed, front$-$end transaction costs are generally high in order, for example, to initiate a public offering or secure a credit rating. However, marginal costs of enforcement are relatively small.

Relationship$-$based governance, in the absence of well$-$functioning and developed capital markets, is by necessity based on private information that is used to facilitate private transactions that are mutually enforcing largely outside the legal system.

Under a relationship$-$based governance system, government, banks, and corporations are closely related in an implicit, idiosyncratic fashion, and engage jointly in the allocation of capital.

None of the above

All of the above

Question $8(1$ point$)$

Which of the following is not characteristic of the differences between the Japanese keiretsu and the South Korean chaebol?

Question $8$ options:

Unlike keiretsu, however, chaebols are not permitted to hold shares of banks. Neither can banks hold equity positions in corporations. However chaebols are permitted to own positions in nonbank financial institutions $($NBFIs$),$ such as merchant banks and investment firms.

Chaebols are more likely than kereitsus to enter in joint venture partnerships with foreign multinationals to favor the transfer of state of the art technology.

The chaebol generally share a stylized structure of family ownership and management that is highly centralized through the office of the chairman, which retains for itself corporate functions, including the responsibility for finance and investment decisions.

Chaebols are diversified and vertically integrated, and, like Japanese keiretsu, they engage in cross$-$shareholding among independently listed companies$$sharing majority ownership, but with different minority shareholders.

Business groups in Japan known as keiretsu are institutionalized inter$-$firm relationships based on networks of dense transactions$$both trading and financial in nature$$buttressed by a web of inter$-$firm cro