A deep-ingrained doctrine in asset pricing says that if an empirical characteristic-return relation is consistent with investor “rationality,” the relation must be “explained” by a risk (factor) model. The investment approach questions the doctrine. Factors formed on characteristics are...

What drives a firm's investment decisions in China? While most literature focuses on the role of financial factors (such as cash flow), we explore this most important question in corporate finance from the perspective of economic fundamentals. Empirical results show that private firms cherish...

What drives a firm's investment decisions in China? While most literature focuses on the role of financial factors (such as cash flow), we explore this most important question in corporate finance from the perspective of economic fundamentals. Empirical results show that private firms cherish...

Using panel data covering the period 2000–2017 for 35 Sub Saharan African (SSA) countries, this study applied the pooled regression, fixed effects and random effects models as well as the Panel Corrected Standard Error (PCSE) technique in an attempt to analyze the macroeconomic determinants of...

Employing a continuous-time real options modeling framework, this paper scrutinizes the incentives to invest in German offshore wind farms. The focus of the analysis is the mode of action of the German feed-in tariff system for offshore wind energy deployment. The numerical results reveal that...

This article reviews the impact of intellectual property (IP) protection on foreign direct investment (FDI) by multinational enterprises (MNEs) in developing countries. Applying different panel data techniques to a newly-created comprehensive FDI/IP dataset of 31 Swiss MNEs investing into 53...

In this paper we analyse the impact of policy uncertainty on foreign direct investment strategies. The paper follows the real options approach, which allows to investigate the value to a firm of waiting to invest and/or disinvest, when payoffs are stochastic due to political uncertainty and...

Until 2009, the legal regime of international investments in the EU was characterised by its very high degree of fragmentation due to the complex division of competences between the EU and its member states. While the former has mainly intervened to promote greater liberalisation of capital...

This paper is a small summary of a much broader project that analyzes the collective investment institutions in Spain through the European regulations, which must necessarily be adapted and that goes up to the last reform operated for the flexibility of this type of investments and its approach...

A deep-ingrained doctrine in asset pricing says that if an empirical characteristic-return relation is consistent with investor “rationality,” the relation must be “explained” by a risk (factor) model. The investment approach questions the doctrine. Factors formed on characteristics are...