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SIZE AND HETEROGENEITY MATTER. A MICROSTRUCTURE-BASED ANALYSIS OF REGULATION OF SECONDARY MARKETS FOR GOVERNMENT BONDS.
Martinez-Resano, J. Ramon - EconWPA - 2005
competition, integrative infrastructure and basic systemic protections as over-arching principles for regulation is consistent …
Persistent link: https://www.econbiz.de/10005134902
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INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA
Mishra, Asim - EconWPA - 2005
The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...
Persistent link: https://www.econbiz.de/10005134795
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How Widespread is Late Trading in Mutual Funds?
Zitzewitz, Eric - EconWPA - 2005
This paper uses daily fund flow data to examine the extent of late trading in the U.S. mutual fund industry. Trading decisions that are required by law to have been made before 4 PM Eastern Time are correlated with market movements from 4 to 9 PM that evening. The cross- sectional variation in...
Persistent link: https://www.econbiz.de/10005134805
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Polish Pension Funds, Does The System Work? Cost, Efficiency and Performance MeasurementIssues
Stanko, Dariusz - EconWPA - 2003
This paper is a part of the author's wider research on the current Polish pension fund system. It deals with the systemfs efficiency from the point of view of the individual fund member. After over three years of functioning, the savings accumulated with the pension funds only slightly exceed...
Persistent link: https://www.econbiz.de/10005412460
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Hedgefondsen: back to basics
Haas, Ralph de - EconWPA - 2002
In dit artikel wordt ingegaan op een aantal recente ontwikkelingen in de hedgefundsector.
Persistent link: https://www.econbiz.de/10005556629
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Macroeconomic evolution after a shock: the role for financial intermediation
Vinogradov, Dmitri - EconWPA - 2003
An overlapping generations model with two production factors and two types of agents is considered in presence of …nancial intermediation. The research focuses at the analysis of the consequences of a suddain negative production shock on a …nancial intermediation capacities and consequently...
Persistent link: https://www.econbiz.de/10005126268
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Banks versus Markets in Processing the Payments Shock
Vinogradov, Dmitri - EconWPA - 2005
The paper focuses on a comparison of bank-based andmarket-based …nancial systems with respect to their ability to smooth the negative consequences of a macroeconomic shock. The model describes a two-market OLG economy with two types of agents (workers and entrepreneurs) and a financial system...
Persistent link: https://www.econbiz.de/10005134734
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Central counterparty clearing: constructing a framework for evaluation of risks and benefits
Ripatti, Kirsi - EconWPA - 2005
pan-European financial infrastructure for payments and securities clearing and settlement. Central counterparty clearing …’s securities market infrastructure – clearing and settlement. Because of the importance of its role, a CCP must have sound risk …-benefit analysis in a Finnish/Nordic-Baltic clearing and settlement infrastructure that incorporates a CCP solution. This is an updated …
Persistent link: https://www.econbiz.de/10005134670
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How Independent are Independent Directors? The Case of Italy
Santella, Paolo; Paone, Giulia; Drago, Carlo - EconWPA - 2005
In this article, we provide an interpretation for the voluntary independence requirements contained in the Italian Corporate Governance Code (Preda Code) checking them against a proxy for international best practice, the independence criteria provided in the EC Recommendation on non-executive...
Persistent link: https://www.econbiz.de/10005077023
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Jeopardy, non-public information, and insider trading around SEC 10-K and 10-Q filings
Huddart, Steven; Ke, Bin; Shi, Charles - EconWPA - 2005
Evidence contrasting insider trades in the U.S. between high- and low- jeopardy periods and across firms at high and low risk for 10b-5 litigation indicates insiders condition their trades on foreknowledge of price-relevant public disclosures, but avoid profitable trades when jeopardy due to...
Persistent link: https://www.econbiz.de/10005561011