This article considers an international sample of venture capital and private equity funds to assess the role of law, corruption, and culture in setting fund manager fees. With better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share...

This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share...

Este documento evalúa la regulación vigente relacionada con la inversión de losrecursos de los Fondos de Pensiones Obligatorios (FPO), para lo cual se analiza el perfilde eficiencia del sistema dadas sus actuales restricciones. De acuerdo con los resultadosobtenidos, se observa que el marco...

Este documento evalúa la regulación vigente relacionada con la administración de losportafolios de los Fondos de Pensiones Obligatorios (FPO), para esto revisa la literaturarelacionada con la eficiencia del Sistema dadas sus actuales restricciones. Se concluyeque el marco regulatorio de las...

This article analyzes how shareholder protection has developed in 20 countries from 1995 to 2005. In contrast to traditional legal research, it draws on a quanti-tative methodology to law ("leximetrics", "numerical comparative law"). Some of its results are that in most countries shareholder...

In this paper we build a new and meaningful shareholder protection index for five countries and code the development of the law for over three decades. At-tributing and comparing legal differences by numbers is contrary to the tradi-tional way of doing comparative law and the use of a...

We test the 'law matters' and 'legal origin' claims using a newly created panel dataset meas-uring legal change over time in a sample of developed and developing countries. Our dataset improves on previous ones by avoiding country-specific variables in favour of functional and generic...

This chapter summarizes recent research on the role of law, culture and corruption on venture capital (VC) fund structure, governance and performance. Evidence from studies that involve a multitude of countries is primarily considered. The evidence across most studies is broadly consistent with...

La práctica sobre políticas de inversión diferencia entre la definición de la composición del portafolio de referencia de largo plazo o benchmark y de los mecanismos de desviación en el corto plazo respecto a ese portafolio, en lo que se conoce como asignación estratégica de activos y...

Este trabajo desarrolla un modelo de simulación para estimar el flujo de caja de unpensionado que tiene su cuenta individual en una Administradora de Fondos dePensiones (AFP) colombiana. Se proyecta el flujo a partir de las sendas salariales ydensidades de cotización estimadas por la...