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...

Elective affinity seems to link reform of retirement, development of long-term investments and SRI next decades. They so suggest the possibility of an endogenous evolution of financial capitalism which would become more favourable to a long term perspective, without departing from the principle...

The compliance function, today a cornerstone of the control system in place within financial services providers, acts as an «instant legislator» that produces norms when legal or regulatory texts do not match practical contexts faced by market operators. Compliance officers can be described as...

L'article présente le document publié par le Comité de Bâle, redéfinissant le champ de la fonction "compliance".

What determines equilibrium securitization levels, and should they be regulated? To address these questions we develop a model where originators can exert unobservable effort to increase asset quality, subsequently having private information regarding quality when selling ABS to rational...

What determines securitization levels, and should they be regulated? To address these questions we develop a model where originators can exert unobservable effort to increase expected asset quality, subsequently having private information regarding quality when selling ABS to rational investors....

Trust is a crucial factor in e-commerce. However, consumers are less likely to trust unknown Web sites. This study explores how less-familiar e-commerce Web sites can use branding alliances and Web site quality to increase the likelihood of initial consumer trust. We use the associative network...

We characterize the competitive equilibrium on the credit market when borrowers can strategically default. We assume that the audit is subject of errors of the two types and that lenders cannot commit ex-ante. We determine the penalty, the loan rate, the audit and strategic default...