This is a preliminary study on the status of the U.S. in the global market for derivatives-related services. We include some of the policy choices available to enhance this status. We begin with a review of the importance of active and efficient derivatives markets for the U.S. economy. We then...

Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...

This paper provides evidence of informed trading before and after a rights issue. First, we find significant net buying and selling activity by informed traders prior to the announcement date leading to a temporary price pressure effect. Even though those results are consistent with the presence...

This paper looks at the United States sub-prime mortgage crisis, exploring some of the factors leading to the crisis and its continuing effects on global credit markets. It is intended to be a very basic introduction to the topic aimed at gently navigating the reader through the key issues

Using a comprehensive and proprietary dataset on international private equity activity, we study the determinants of buyout investments across 61 countries and 19 industries over the period of 1990-2017. We find evidence that macroeconomic conditions, development of stock and credit markets, and...

We examine the spillover effects of the Global Analyst Research Settlement (or Global Settlement) on analysts' earnings forecasts in 40 developed and emerging markets. Prior to the Global Settlement, analysts generally made overly optimistic forecasts, this bias tending to be higher in countries...

The last weeks of 2018 have set new records in net new institutional investment flows into infrastructure funds, with more generalist private equity and investment management players joining this strategic asset class par excellence, as the trend is likely to continue well into 2019 – 2020.The...

We investigate the effect of individualism – a dimension of culture that is strongly associated with entrepreneurship – on venture-capital investments using a large cross-country sample. Our sample consists of 1,496 country-year observations and includes 88 countries from 1998 to 2014....

The sixth annual World Pensions Forum was held on 23-24 February 2017 at the Queen's House in the Royal Borough of Greenwich.Over 120 representatives attended: from pension and sovereign funds, central banks and government agencies including financial regulators. Topics discussed included...