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Brandao-Marques, Luis - 2016

Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority...

Persistent link: https://www.econbiz.de/10012977357

Benchmarking Infrastructure Using Public Investment Efficiency Frontiers

Kapsoli, Javier; Mogues, Tewodaj; Verdier, Genevieve - 2023

With limited financing options, increasing investment efficiency will be a critical avenue to building infrastructure … costs and other pressures. Estimating investment efficiency, however, presents many methodological pitfalls. Using various … methods—–stochastic frontier analysis, data envelopment analysis (DEA), and bootstrapped DEA—this paper estimates efficiency …

Persistent link: https://www.econbiz.de/10014356351

A Framework for Efficient Government Investment

Warner, Andrew - 2013

Welfare economics, scope and performance of government, externalities, public goods, cost-benefit analysis, subsidies economize on spending without losing effectiveness by modifying the conceptual framework guiding state expenditures. The familiar framework says that state intervention is...

Persistent link: https://www.econbiz.de/10013085132

Integrated Ownership and Control in the GCC Corporate Sector

Santos, Andre Oliveira - 2015

The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and GCC stock exchanges. The paper finds that ownership is concentrated in GCC public...

Persistent link: https://www.econbiz.de/10013015598

Unstash the Cash! Corporate Governance Reform in Japan

Aoyagi, Chie - 2014

Japan's high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan's weak corporate governance - as measured by available indexes - might be contributing to high cash...

Persistent link: https://www.econbiz.de/10013048363

Cashing in for Growth : Corporate Cash Holdings as an Opportunity for Investment in Japan

Sher, Galen - 2015

Over the last two decades, cash holdings in nonfinancial firms around the world have increased. This phenomenon is particularly concerning in Japan, where the success of Abenomics depends on a transition from stimulus-driven to self-sustaining growth based on private consumption and investment....

Persistent link: https://www.econbiz.de/10013028683

Reforming the Corporate Governance of Italian Banks

Jassaud, Nadege - 2014

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges arising from the role played by foundations and large...

Persistent link: https://www.econbiz.de/10013045259

Inefficient Fire-Sales in Decentralized Asset Markets

Ebrahimy, Ehsan - 2019

Classic models of fire-sales that emphasize liquidity-constrained natural buyers can-notfully account for the asset fire-sales during the Financial Crisis of 2008. I present a modelto demonstrate that fire-sales may happen even when there is a sizable pool of naturalbuyers and in the absence of...

Persistent link: https://www.econbiz.de/10012868464

Sovereign Wealth Funds : Aspects of Governance Structures and Investment Management

Al-Hassan, Abdullah - 2013

This paper presents in a systematic (normative) manner the salient features of a SWF‘s governance structure, in relation to its objectives and investment management that can ensure its efficient operation and enhance its financial performance. In this context, it distinguishes among the...

Persistent link: https://www.econbiz.de/10013071922

Financial Decisions and Investment Outcomes in Developing Countries : The Role of Institutions

Turk-Ariss, Rima - 2015

This paper analyzes how differences in legal origin, judicial efficiency, and investor protection affect firm leverage …

Persistent link: https://www.econbiz.de/10013025428

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