We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts...

Between October and November 2001 the world witnessed the collapse of Enron, a major US publicly traded corporation with global operations. The Enron case highlights the impact corporate failure has on American society and capital markets and underscores the need for better enforcement of...

Between October and November 2001 the world witnessed the collapse of Enron, a major US publicly traded corporation with global operations. The Enron case highlights the impact corporate failure has on American society and capital markets and underscores the need for better enforcement of...