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The Benefits of Creating an Integrated EU Market for Investment Funds
Heinemann, Friedrich - 2002
The fast growing EU market for investment funds is still characterised by a continuing relevance of national borders. This papers assesses this market?s degree of integration, the potential benefits from more integration and the obstacles to cross-border sales of funds. The analysis shows that...
Persistent link: https://www.econbiz.de/10010298094
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Common ownership and the (non-)transparency of institutional shareholdings: An EU-US comparison
Steuer, Sebastian - 2022
This paper compares the extent of common ownership in the US and the EU stock markets, with a particular focus on differences in the applicable ownership transparency requirements. Most empirical research on common ownership to date has focused on US issuers, largely relying on ownership data...
Persistent link: https://www.econbiz.de/10013333571
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Remarks on the German Regulation of Crowdfunding
Tröger, Tobias H. - 2017
Crowdfunding is a buzzword that signifies a sub-set in the new forms of finance facilitated by advances in information technology usually categorized as fintech. Concerns for financial stability, investor and consumer protection, or the prevention of money laundering or funding of terrorism...
Persistent link: https://www.econbiz.de/10011731181
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Regulation of crowdfunding in Germany
Tröger, Tobias - 2017
This paper is the national report for Germany prepared for the to the 20th General Congress of the International Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of crowdfunding campaigns under this legal framework. After a...
Persistent link: https://www.econbiz.de/10011793660
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Postprivatization Corporate Governance: the Role of Ownership Structure and Investor Protection
Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003
We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...
Persistent link: https://www.econbiz.de/10011325056
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Abnormal Returns in Privatization Public Offerings: The Case of Portuguese Firms
Vieira, Carla; Serra, Ana Paula - 2005
This paper provides evidence on abnormal returns of Portuguese privatization public offerings for the period from 1989 … privatization transactions and investigates the determinants of the observed price behavior. Our results are not supportive of the … underpricing phenomenon except if we exclude the very extreme observations. The results show further that privatization IPOs …
Persistent link: https://www.econbiz.de/10010312287
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From Government to Regulatory Governance: Privatization and the Residual Role of the State
Perotti, Enrico; Bortolotti, Bernardo - 2005
This paper reviews the state of thinking on the governance role of public ownership and control. We argue that the transfer of operational control over productive assets to the private sector represents the most desirable governance, due to the inherent difficulty for citizens to constrain...
Persistent link: https://www.econbiz.de/10010312416
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Share Issuing Privatizations in China: Determinants of Public Share Allocation and Underpricing
Quan, Qi; Huyghebaert, Nancy - 2005
Using data on 451 Chinese privatizations over the period 1994-2002, this paper empirically investigates the firm and stock market characteristics that detfirmine the size of the portion of new shares sold to the general public and underpricing at SIP-time. We find that poor perfirmance and...
Persistent link: https://www.econbiz.de/10010313366
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Privatization and regional distribution of manufacturing in Turkey
Dogruel, Fatma; Dogruel, Suut - 2011
economic policies: The reform process included not only financial liberalization and trade reforms, but also the privatization … advocated privatization as a "must" policy tool. The paper explores the effects of privatization on regional growth of Turkish … or substitute of the private sector. The findings show that privatization has no perverse effects on the development of …
Persistent link: https://www.econbiz.de/10010320586
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Reluctant Privatization
Bortolotti, Bernardo; Faccio, Mara - 2004
through 2000. We find that governments do not relinquish control after "privatization." We show that the market-to-book ratios …
Persistent link: https://www.econbiz.de/10011325012