This paper examines governance explanations for the discount of preferred shares to common shares in th

Many scholars have asked whether British investors benefited from overseas investment investing in the 19th century and whether this export of capital had negative effects. We re-visit the issue using modern portfolio theory. We examine the set of investment opportunities available to British...

In this paper we review evidence about the development of the Chinese capital markets over a crucial period in world market history, and place that development in the context of world financial markets at the time. Despite fundamental differences between China today and China 100 years ago, it...

This paper examines governance explanations for the discount of preferred shares to common shares in the Russian market. conflicts between shareholder classes may help explain the discount. However, for this to be the sole explanation the estimated models suggest that the magnitude of future...

This paper examines governance explanations for the discount of

Many scholars have asked whether British investors benefited from overseas investment investing in the 19th century and whether this export of capital had negative effects. We re-visit the issue using modern portfolio theory. We examine the set of investment opportunities available to British...

We introduce a methodology to estimate the historical time series of returns to investment in private equity. The approach is quite general, requires only an unbalanced panel of cash contributions and distributions accruing to limited partners, and is robust to sparse data. We decompose private...

We introduce a methodology to estimate the historical time series of returns to investment in private equity. The approach is quite general, requires only an unbalanced panel of cash contributions and distributions accruing to limited partners, and is robust to sparse data. We decompose private...

Investors in hedge funds and commodity trading advisors [CTAs] are naturally concerned with risk as well as return. In this paper, we investigate risk of hedge funds and CTAs in light of managerial career concerns.(...)