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investment there may not even be a discontinuity in productivity between those employed with a relational contract and those … relational contract is that the parties must jointly receive a surplus over what they can get by separating.  This has been … productive, or near equally productive employees without relational contracts.  Investment in specific training relaxes the …
Persistent link: https://www.econbiz.de/10011071727
Shadow banking is a broad concept. A possible definition is that it comprises non-bank institutions which undertake bank-like activities. Another characteristic is that the sector is overall less regulated. Therefore there are still shortcomings in systematic collection of information of the sector.
Persistent link: https://www.econbiz.de/10011985212
“keeping up with the Joneses” effect. Firms pay more attention to their index peers after inclusion and their investment …
Persistent link: https://www.econbiz.de/10012584272
Many institutional investors depend on the returns they generate to fund their operations and liabilities. How do these investors' financial conditions affect the management of their portfolios? We address this issue using the insurance industry because insurers are large investors for which...
Persistent link: https://www.econbiz.de/10012104637
Persistent link: https://www.econbiz.de/10011790739
characterize optimal saving and investment over an individual’s life cycle. Within a stylized modeling framework, we explore … intergenerational risk sharing, however, is limited by the ability to commit generations to the contract. These commitment problems …
Persistent link: https://www.econbiz.de/10010886203
mobilise private investment in low-carbon projects and infrastructure. The study identifies the tools, instruments and … approaches used by five PFIs to directly support and scale-up domestic private sector investment in sustainable transport, energy …, KfW Bankengruppe in Germany, the UK Green Investment Bank, the European Investment Bank, and the European Bank for …
Persistent link: https://www.econbiz.de/10011276635
We develop a model of portfolio choice to nest the views of Keynes - who advocates concentration in a few familiar assets - and Markowitz - who advocates diversification across assets. We rely on the concepts of ambiguity and ambiguity aversion to formalize the idea of an investor’s...
Persistent link: https://www.econbiz.de/10008468537
funds, their investment in private equity is about 20 times larger. Asset size is an important determinant of the decision … appears to be an important factor in explaining the difference in private equity investment, but it is not sufficient to …
Persistent link: https://www.econbiz.de/10011166505
This paper provides evidence for a causal effect of equity prices on corporate investment and employment. We use fire … whose stocks are most underpriced have considerably lower investment and employment than industry peers not subject to any … fire sale discount. The causal effect of underpricing on investment is found to be largely concentrated on the most …
Persistent link: https://www.econbiz.de/10011084351