The ownership nationality of large US multinational companies plays an implicit but important role in the current debate over how such companies should be taxed. This paper identifies that role and investigates what is actually known about where these companies’ shareholders reside

Despite the exponential increase in the literature related to the performance of Alternative Investment Funds (AIFs), risk management with respect to the measurement of performance persistence remains largely unexplored. In this paper, we investigate the impact of geolocation and investment...

We explore the link between firms' dollar bond borrowing and their FX-hedged funding opportunities, as reflected in a positive corporate basis (the relative cost of local to synthetic currency borrowing). Consistent with previous research, we first document that firms substitute domestic for...

We explore the link between firms' dollar bond borrowing and their FX-hedged funding opportunities, as reflected in a positive corporate basis (the relative cost of local to synthetic currency borrowing). Consistent with previous research, we first document that firms substitute domestic for...

How does sovereign risk affect investors' behavior? We answer this question using a novel database that combines sovereign default probabilities for 27 developed and emerging markets with monthly data on the portfolios of individual bond mutual funds. We first show that changes in yields do not...

Closed-end funds have been a topic of lively debate for several decades. In this paper we focus on studies relating to liquidity, sentiment and segmentation and, in particular, on studies that investigate closed-end country funds. We extend the previous survey by Dimson & Minio-Kozerski (1999)...

This paper investigates the sensitivity of the demand for safe government debt to currency unhedged and hedged excess returns in a sample of US mutual funds. We find evidence of active rebalancing towards government bonds that offer relatively higher returns on an unhedged basis, in particular...

A new breed of funds has emerged on the global investment scene: strategic investment funds (SIF). These are state-run funds that combine financial objectives with wider development considerations for the national economy and society. SIFs should also help mobilise more private capital for...

We compare the characteristics of conglomerates and private equity entities. This is done by examining the differences among their business models. We analyze the relations of the two entity types to their investors on the one hand and to their investments on the other hand. The distinguishing...

Fundraising is one of the biggest challenges for venture capitalists in the wake of the financial crisis, causing some to argue that the venture capital model is broken? Maybe it looks that way, but actually the answer is that fundraising works differently. Indeed, this Paper shows that a...