Showing 1 - 10 of 277,209
A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of … shows a positive investment-cash flow sensitivity for business group affiliated firms and negative investment cash flow … sensitivity for non-group affiliated firms. Additional tests accordingly express that investment-cash flow sensitivity of …
Persistent link: https://www.econbiz.de/10012861026
There are three fundamental ways of testing the validity of an investment algorithm against historical evidence: a) the … investment algorithm should be deployed throughout all market regimes. We denote such assumption the “all-weather” hypothesis …, and the algorithms based on that hypothesis “strategic investment algorithms” (or “investment strategies”).The all …
Persistent link: https://www.econbiz.de/10012862212
Traditionally, the development of investment strategies has required domain-specific knowledge as well as access to … restricted datasets. This has meant that investment opportunities are not researched by the majority of data scientists, because … crowdsourcing paradigm for investment research. Tournaments can overcome the two research barriers (domain-specific knowledge and …
Persistent link: https://www.econbiz.de/10012847749
FinTech is a new term combining finance and technology. The term did not exist until the end of 2014. Although there is agreement over what finance is, there is no agreed upon definition of technology. It changes with time. American sociologist Read Bain wrote in 1937 that technology includes...
Persistent link: https://www.econbiz.de/10014103494
This Article presents the legal literature's first detailed analysis of the inner workings of Initial Coin Offerings. We characterize the ICO as an example of financial innovation, placing it in kinship with venture capital contracting, asset securitization, and (obviously) the IPO. We also take...
Persistent link: https://www.econbiz.de/10012898759
This paper investigates the compensation and growth dynamics of private equity firms. Using proprietary data, I estimate that about half of their revenue is performance-related and find that current fund performance also has indirect effects on firms’ future revenue. The dynamics of these...
Persistent link: https://www.econbiz.de/10013405195
Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high...
Persistent link: https://www.econbiz.de/10011378146
opportunities and investment demand. Financial development primarily affects firms' external financing constraints. (2) Large firms …
Persistent link: https://www.econbiz.de/10013082237
Distortions in capital markets can create financial constraints that deter firms from pursuing optimal investment plans …. This paper explores how much these constraints affect investment by ownership type in China, using a panel data model … face greater financial constraints than state-owned enterprises (SOEs), as POE investment plans depend more on the …
Persistent link: https://www.econbiz.de/10013489728
Recent high correlations among hedge fund returns could suggest concentrations of risk comparable to those preceding the hedge fund crisis of 1998. A comparison of the current rise in correlations with the elevation before the 1998 event, however, reveals a key difference. The current increase...
Persistent link: https://www.econbiz.de/10012775924