The capital allocation process of most investment banks is discussed and contrasted to hedge funds. Suggestions are … provided on how to improve the investment bank capital allocation process …

gekennzeichnet sind. Er zeigt, dass unternehmerische Fehlanreize bei der Investition durch geeignet ausgestaltete …

The present paper analyzes the investment effects of emission trading scheme (ETS) when emission permits are bankable … irreversibility of investment and cost uncertainty. In the absence of abatement cost uncertainty, a bankable ETS reduces a firm …'s incentive for environmental investment, because the firm can utilize the banked permits for future compliance which act as …

We employ a unique dataset on members of an elite service club in Germany to investigate how elite networks affect the … allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a …

We employ a unique dataset on members of an elite service club in Germany to investigate how social connections in … elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to …