This paper explores the productivity differential between return migrants (“Sea Turtles”) and non-migrants through a case study of China’s venture capital (VC) industry. I find that even after correcting for selection bias, return venture capitalists are less productive than comparable...

The sovereign credit ratings provided by credit rating agencies have great impact on a country's access to credit markets. To gain access to international credit markets, a country usually seeks ratings from the three biggest international credit rating agencies: Standard & Poor's, Moody's, and...

Key role of credit rating agencies is reducing the asymmetry information about credit quality (of governments, business entities or securities) between issuers and investors, and ensuring a common standard of measuring the creditworthiness. Credit rating agencies are engaged in the sale of...

Eine Finanztransaktionssteuer kann neben der Finanzmarktregulierung das zentrale Instrument sein, um die Finanzmärkte in Zukunft wieder robuster zu machen. Wenn sie breit angelegt ist, zielt sie auf die Eindämmung von Regulierungsarbitrage, Blitzhandel, überaktivem Portfolio-Management und...

The severe political turmoil provoked by an allegedly mispriced private bond issue in Greece added to the controversial matter of whether prices of structured bonds sold to investors are "fair" or not. In this paper structured bond market is analysed with particular focus on valuation issues. It...

Numerous studies have discussed that even if fundamental for innovation and economic growth, SMEs are often financially more constrained than large firms. Therefore, venture capitalists are often the only available sources of financing to small and young companies. Through the analysis of a...

The study explores the relationship between monetary policy and private sectorinvestment in Kenya by tracing the effects of monetary policy through the transmission mechanism to explain how investment responded to changes in monetary. Several studies have offered a means to understand the manner...

The present paper measured the efficiency of Islamic banks during economic troubles of 2006-2009 to address the question if Islamic banks were efficient and stable. This paper addresses this question by measuring efficiency through employing the on-parametric technique, Data Envelopment Analysis...

This article is divided into four sections. In the first one, we describe the origin and history of investment banking, with particular focus on the economic conditions that led to its birth in the United States. The second part considers those products offered by investments banks which are...

Exchange-traded funds (ETFs) exist for stock, bond and commodity markets. In most cases the underlying feature of an ETF is an index. Fund management today uses the active and the passive way to construct a portfolio. ETFs can be used for passive portfolio management, for which ETFs with...