The regulations that shape the design and the operations of corporations, credit and securities markets differ vastly from country to country. In addition, similar regulations are often unequally enforced in different countries. Economists still have an imperfect understanding of why these...

This paper considers the structure, governance and performance of a unique class of mutual funds that receives capital only from individuals, and reinvests this contributed capital in private companies, as opposed to traditional mutual funds that invest in publicly traded companies. We consider...

Professors John C. Coates, IV, and R. Glenn Hubbard have prepared a study entitled, Competition and Shareholder Fees in the Mutual Fund Industry: Evidence and Implications for Policy. I will refer to it henceforth as quot;Coates-Hubbard.quot; The working paper was published in June of 2006 under...

The phrase, neither a borrower nor a lender be, seems to have fallen out of favour in modern Canadian society, if it was ever heeded in its native context. In the modern market economy, access to loans, debentures, and other forms of debt capital can be an integral ingredient in a successful...

This paper considers the structure, governance and performance of a unique class of mutual funds that receives capital only from individuals, and reinvests this contributed capital in private companies, as opposed to traditional mutual funds that invest in publicly traded companies. We consider...

In September 2003, several prominent mutual fund companies came under investigation for illegal trading practices. Allegations suggested these funds allowed certain investors to profit from short-term trading schemes at the expense of other investors. Surprisingly, regulatory authorities have...

This article analyzes investor beliefs as to stocks, the inadvertent role government plays in shaping those beliefs and thereby contributes to a rise in stock prices, and the need for government quot;neutralityquot; among investor belief systems. It suggests that, contrary to conventional...

This new book argues that environmental law must target the financial sector, which sponsors and profits from environmental pillage. The rise of a system of finance capitalism has made the financial sector a crucial economic sector. A long-standing movement for socially responsible investment...

This paper examines cross-country evidence on the duration of venture capital (VC) investment. We formulate a theory of VC investment duration based on the idea that venture capitalists exit when the expected marginal cost of maintaining the investment is greater than the expected marginal...