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The Demand for Enhanced Annuities
Schumacher, Petra - Universität <München> / Fakultät für Betriebswirtschaft - 2008
In enhanced annuities, the annuity payment depends on one's state ofhealth at some contracted date while in "standard annuities", it does not.The focus of this paper is on an annuity market where "standard" and en-hanced annuities are oered simultaneously. When all insured know equallywell on...
Persistent link: https://www.econbiz.de/10009418812
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The Performance of Investment Grade Corporate Bond Funds: Evidence from the European Market
Dietze, Leif Holger; Entrop, Oliver; Wilkens, Marco - Lehrstuhl für ABWL, Finanzierung und Bankbetriebslehre … - 2006
-denominated investment grade corporate bonds. The funds are evaluated employing a single-index model and several multi-index and asset …-class-factor models. In order to account for the risk and return characteristics of investment grade corporate bond funds, we use both … investment style on the funds' risk-adjusted performance. We find indications that funds showing lower exposure to BBB rated …
Persistent link: https://www.econbiz.de/10005857719
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Optimal Investment and Premium Policies under Risk Shifting and Solvency Regulation
Filipović, Damir; Kremslehner, Robert; Muermann, Alexander - National Centre of Competence in Research - Financial … - 2011
optimal investment and premium policies in this context and pro-vide necessary and sufficient conditions for their existence … cred-ibly commit to an investment strategy before policies are sold and premiums are paid. Last,we analyze the eect of …
Persistent link: https://www.econbiz.de/10009486858
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Private Equity Entities and Conglomerates: What are the Differences?
Achleitner, Ann-Kristin; Müller, Kay - Center for Entrepreneurial and Financial Studies <München> - 2008
stand-alone-perspective with their investment policies, meaning that they treat each investment separately. Therefore …
Persistent link: https://www.econbiz.de/10005870386
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Private Equity Funds and Hedge Funds: A Primer
Achleitner, Ann-Kristin; Kaserer, Christoph - Center for Entrepreneurial and Financial Studies <München> - 2005
Private equity funds and hedge funds are both alternative asset classes that are continuouslygrowing in importance. Although they have different focuses, they share some characteristics.First of all, both have or allegedly have a significant impact on the economy as well as thefinancial system...
Persistent link: https://www.econbiz.de/10005870406
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Capital Supply Uncertainty, Cash Holdings, andInvestment
Hugonnier, Julien; Malamud, Semyon; Morellec, Erwan - National Centre of Competence in Research - Financial … - 2010
We develop a model of real investment and cash holdings in which firms face uncertaintyregarding their ability to raise … characterization of the optimal investment,cash management, and dividend policies for a firm acting in the best interests of …
Persistent link: https://www.econbiz.de/10009522190
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FINANCIAL DEPENDENCE AND FIRM SURVIVAL IN INTERWARBRITAIN
Chambers, David - 2007
Was the London Stock Exchange (LSE) little more than a Dickensian den of speculation, or did itmake a contribution to industrial development in interwar Britain? The interwar stock marketlaboured under problems of weak disclosure, inadequate investor protection and ineffectiveunderwriting. New...
Persistent link: https://www.econbiz.de/10005870133
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Transparency through FinancialClaims with Fingerprints –A Free Market Mechanismfor Preventing MortgageSecuritization Induced FinancialCrises
Gründl, Helmut; Post, Thomas - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2009
Lack of transparency in securitization transactions significantly contributed to thesevere financial crisis of 2007–2009. To increase transparency we—based on arecent idea by Markowitz (2009)—propose an incentive compatible mechanismfor future securitization transactions: financial claims...
Persistent link: https://www.econbiz.de/10008939784
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Is there Market Discipline in the European Insurance Industry? An Analysis of the German Insurance Market
Eling, Martin; Schmit, Joan T. - Institut für Versicherungswirtschaft <Sankt Gallen> - 2008
The financial services industry has undergone significant regulatory change in thepast two decades due to Basel II (banking) and Solvency II (insurance). Even though these promulgations are focused on European institutions, their influenceextends around the globe. An important dimension of this...
Persistent link: https://www.econbiz.de/10005861349
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On the Coexistence of Banks and Markets
Gersbach, Hans; Uhlig, Harald - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
We examine the coexistence of banks and financial markets, studyinga credit market where the qualities of investment … projects are notobservable and the investment decisions of entrepreneurs are not contractible... …
Persistent link: https://www.econbiz.de/10005854968