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As a stock exchange dedicated to small and medium enterprises (SMEs), the success of the Alternative Investment Market (AIM) has established this segment of the London Stock Exchange as the benchmark, of which the Alternext is considered a flawed copy. This article aims to invalidate this...
Persistent link: https://www.econbiz.de/10011072743
The possible existence of a link between the structure of firms' equity and profitability is a recurrent question among economists. The primary objective of this article is to provide a critical analysis of the two most recent hypotheses on the subject, one put forward by Demsetz, and the other...
Persistent link: https://www.econbiz.de/10010708491
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...
Persistent link: https://www.econbiz.de/10010708702
French accounting values, accounting and reporting system characteristics and the nature of corporate owners and financiers account for the low level of French companies' disclosure. The aim of this paper is to relate the extent of disclosure in the annual reports of a sample of 100 French...
Persistent link: https://www.econbiz.de/10011072686
Since the 1990s’, a relatively ample research has been undertaken regarding the measurement of the volatility of bank earnings over time. The comparison between traditional deposits-loans banking and financial activities is a further specific theme in bank performance research. Few analyses...
Persistent link: https://www.econbiz.de/10010708863
The development of market-based finance and amendments to regulation on bank powers have supported a larger involvement of US banks in financial activities over the last decades. Changes in the structure of income question risks though. Especially, with a performance perspective: does...
Persistent link: https://www.econbiz.de/10011072333
This paper presents a theory for Islamic venture capital namely ‘Mudharabah’ contract under adverse selection problem. In order to avoid selecting a low type entrepreneur for a given good project, the framework defines the profit sharing ratio (PSR) as a screening device. We then develop a...
Persistent link: https://www.econbiz.de/10010707570
Persistent link: https://www.econbiz.de/10010707630
This paper presents a theory for Islamic venture capital namely ‘Mudharabah’ contract under adverse selection problem. In order to avoid selecting a low type entrepreneur for a given good project, the framework defines the profit sharing ratio (PSR) as a screening device. We then develop a...
Persistent link: https://www.econbiz.de/10011082462
This paper takes full advantage of daily quoted prices of microfinance stocks from their issuance, and draws a global … picture of worldwide microfinance equity from the viewpoint of a profit-oriented investor. We construct microfinance country … equity indices and an international global microfinance index. We analyse the changes in these indices, which we assess in …
Persistent link: https://www.econbiz.de/10010707177