Alternative assets, such as private equity, hedge funds, and real assets, are illiquid and opaque, and thus pose a challenge to traditional models of asset allocation. In this paper, we study asset allocation and asset pricing in a general-equilibrium model with liquid assets and an alternative...

An online payment system allows a customer to make a payment to an online merchant or a service provider. Payment gateways, a channel between customers and payment processors, use various security tools to secure a customer’s payment information, usually debit or credit card information,...

The study of the governance of economic organization has become a lively and diverse field of research over the last four decades. This chapter describes the fundamental ideas of Transaction Cost Economics (TCE) as these evolved in the 1970's to offer a methodology through which to analyze how...

This paper is devoted to the application of Islamic contract law to securities transactions and in conjunction with conventional transactions. It is fair to say that the distinguished factor which diverges these two systems is concentrated on the necessity of existence asset underlying Islamic...

The project addresses the Public to Private (PTP) Transactions. In this project, I focus on specifying the characteristics of companies going private. I also explain the sources for the premium paid to pre-PTP shareholders and finally I trace the macro-economic factors to examine whether they...

IT outsourcing is becoming an integral part of the IS sourcing strategy for an increasing number of banks. It is often claimed that the Transaction Cost Framework provides a basis for sourcing decisions. Further the IT-department's capability to manage long-term relationships with its...

To the best of our knowledge, this study is one of the first to empirically analyze the trading behaviour of all ETS firms during the first phase of the EU's Emissions Trading System. We use a unique dataset which allows investigating the importance of permit trading transaction costs, such as...