Using a recent Spanish database, we show that remittances respond to cross country differences in portfolio values … over time with the length of the migration spell, suggesting that remittances sent for portfolio motives become more likely …. -- remittances ; portfolio motives ; Spain …

explore this possibility, I develop a theory that unifies models of investment choice, informal risk sharing, and formal … inefficiencies. First, borrowers free-ride on their partners, making risky investments without compensating partners for this risk …. Second, the addition of peer-monitoring overcompensates, leading to sharp reductions in risk-taking and profitability. Equity …

risk. This paper focuses on the transmission of sovereign risk to insurance companies as some of the largest institutional … investors in the sovereign bond market. We use a firm level panel dataset that covers large insurance companies, banks and non … effects from sovereign risk to domestic insurers. The impact on insurers is larger than for non-financial firms and slightly …

investors' financial conditions affect the management of their portfolios? We address this issue using the insurance industry …