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Institutional investors and home bias in Europ's capital markets union

Darvas, Zsolt M.; Schoenmaker, Dirk - 2017

Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an … indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete … coverage because they consider only listed equities. We also consider unlisted equites and show that equity home bias is much …

Persistent link: https://www.econbiz.de/10011613999

As American as Apple Inc. : international tax and ownership nationality

Sanchirico, Chris William - 2014

The ownership nationality of large US multinational companies plays an implicit but important role in the current debate over how such companies should be taxed. This paper identifies that role and investigates what is actually known about where these companies’ shareholders reside

Persistent link: https://www.econbiz.de/10011387732

Eugster, Patrick (contributor); Zweifel, Peter (contributor) - 2006

This contribution starts out by noting a conflict of interest between consumers and insurers. Consumers face positive correlation in their assets (health, wealth, wisdom, i.e. skills), causing them to demand a great deal of insurance coverage. Insurers on the other hand eschew positively...

Persistent link: https://www.econbiz.de/10003354444

On the rewards to international investing : a safe haven currency perspective

Danthine, Jean-Pierre; Danthine, Samuel - 2017

Persistent link: https://www.econbiz.de/10011697130

Can PCA structure changes indicate that it is time to trade?

Yang, Libin; Rea, William; Rea, Alethea - 2015

Persistent link: https://www.econbiz.de/10011296208

Efectos de la crisis financiera sobre las pensiones en América Latina

Marcel, Mario; Tapia Troncoso, Waldo - 2010

Persistent link: https://www.econbiz.de/10011294488

Some financial implications of global warming : an empirical assessment

Morana, Claudio; Sbrana, Giacomo - 2018

Concurrent with the rapid development of the market for catastrophe (cat) bonds, a steady decline in their risk premia has been observed. Whether the latter trend is consistent with the evolution of natural disasters risk is an open question. Indeed, a large share of outstanding risk capital in...

Persistent link: https://www.econbiz.de/10011794444

Financial innovation and financial fragility

Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2010 - Second draft: May 2010

We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash...

Persistent link: https://www.econbiz.de/10008737158

The investment strategies of sovereign wealth funds

Lerner, Joshua; Bernstein, Shai; Schoar, Antoinette - 2009

This paper examines the direct private equity investment strategies across sovereign wealth funds and their relationship to the funds' organizational structures. SWFs seem to engage in a form of trend chasing, since they are more likely to invest at home when domestic equity prices are higher,...

Persistent link: https://www.econbiz.de/10008810286

Pricing default risk : the good, the bad, and the anomaly

Ferreira Filipe, Sara; Grammatikos, Theoharry; Michala, … - 2014

While empirical literature has documented a negative relation between default risk and stock returns, the theory suggests that default risk should be positively priced. We provide an explanation for this "default anomaly", by calculating monthly probabilities of default (PDs) for a large sample...

Persistent link: https://www.econbiz.de/10011861135

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