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Governance of French Yachting Harbours : a case study

Bo, Damien - HAL - 2006

presents the case of leisure harbours and designs an initial model of their governance issues. An empirical analysis of a …

Persistent link: https://www.econbiz.de/10008794093

The Portuguese Experience with Public-Private Partnerships

Renneboog, Luc; Miranda Sarmento, J. - Tilburg University, Center for Economic Research - 2014

Abstract: This paper documents the Portuguese experience in Public-Private Partnerships (PPPs). Since 1993, Portugal has been using PPPs intensively, mainly for highway construction and in the health sector. This has enabled the country to close the infrastructure gap and avoid the budget...

Persistent link: https://www.econbiz.de/10011092109

Public-Private Partnerships : Risk Allocation and Value for Money

Renneboog, Luc; Miranda Sarmento, J. - Tilburg University, Center for Economic Research - 2014

This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic...

Persistent link: https://www.econbiz.de/10011092336

IPPP - Risks and opportunities An economic perspective

Brux, Julie De; Marty, Frédéric - HAL - 2014

This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...

Persistent link: https://www.econbiz.de/10010930091

Mini-perm Structures in PPP Contracts: Risks and Opportunities

Dupas, Nicolas; Marty, Frédéric; Voisin, Arnaud - HAL - 2011

Prior to the 2008 financial crisis, the economic model of PPPs benefited from a very favorable environment in terms of credit availability and cost. The high level of liquidity in financial markets allowed rising abundant and not expensive external resources, because of both the low level of...

Persistent link: https://www.econbiz.de/10010541078

The Collateral Risk of ETFs

Hurlin, Christophe; Iseli, Gregoire; Pérignon, Christophe - HAL - 2014

As most Exchange-Traded Funds (ETFs) engage in securities lending or are based on total return swaps, they expose their investors to counterparty risk. To mitigate the funds' exposure, their counterparties must pledge collateral. In this paper, we present a framework to study collateral risk and...

Persistent link: https://www.econbiz.de/10010899467

Cross-Market Spillovers with 'Volatility Surprise'

Aboura, Sofiane; Chevallier, Julien - HAL - 2014

This article adopts the asymmetric DCC with one exogenous variable (ADCCX) model developed by Vargas (2008), by updating the concept of 'volatility surprise' to capture cross-market relationships. Current methods for measuring spillovers do not focus on volatility interactions, and neglect...

Persistent link: https://www.econbiz.de/10010821166

Public Debt Accumulation and Institutional Quality: Can Corruption Improve Welfare?

Faure, Pierre-Henri - HAL - 2009

We explore the consequences of bad governance and corruption for public debt and welfare in a model of policymaking …

Persistent link: https://www.econbiz.de/10009278335

Ownership structure, risk and performance in the European banking industry

Iannotta, Giuliano; Nocera, Giacomo; Sironi, Andrea - HAL - 2007

We compare the performance and risk of a sample of 181 large banks from 15 European countries over the 1999-2004 period and evaluate the impact of alternative ownership models, together with the degree of ownership concentration, on their profitability, cost efficiency and risk. Three main...

Persistent link: https://www.econbiz.de/10010696615

Optimal Extortion and Political Risk Insurance

Koessler, Frédéric; Lambert-Mogiliansky, Ariane - HAL - 2012

We study the problem faced by firms that invest in a foreign country characterized by weak governance. Our focus is on … study the determinants of the quality of governance and whether and how political risk insurance of foreign direct … investments improve upon it. We find that it does not always improve upon all governance indicators. It always decreases the …

Persistent link: https://www.econbiz.de/10010739035