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Privatisation, i.e. the transfer of ownership and control of state-owned enterprises, is a worldwide phenomenon. Which … of privatisation method appear to be influenced by the governing political majority and public sector budget constraints …, while the success of privatisation in terms of revenues and stakes sold requires suitable institutions and developed capital …
Persistent link: https://www.econbiz.de/10009786716
Privatisation, i.e. the transfer of ownership and control of state-owned enterprises, is a worldwide phenomenon. Which … of privatisation method appear to be influenced by the governing political majority and public sector budget constraints …, while the success of privatisation in terms of revenues and stakes sold requires suitable institutions and developed capital …
Persistent link: https://www.econbiz.de/10010314853
Persistent link: https://www.econbiz.de/10003880121
Persistent link: https://www.econbiz.de/10008908407
In the last few years, many of the world’s largest financial exchanges have converted from mutual, not-for-profit organizations to publicly-traded, for-profit firms. In most cases, these exchanges have substantial responsibilities with respect to enforcing various regulations that protect...
Persistent link: https://www.econbiz.de/10003831252
In the past decade, many of the world's largest financial exchanges have demutualized, i.e., converted from mutual, not-for-profit organizations to publicly-traded, for-profit firms. In most cases, these exchanges have substantial responsibilities with respect to enforcing various "trade...
Persistent link: https://www.econbiz.de/10013133603
Overtime, some of the core provisions that traditionally identify, in the context of MiFID, the investors’ protection regime, have become a template for the protection of consumers and “end-users” of financial services and products in other areas of EU Legislation. Those same provisions...
Persistent link: https://www.econbiz.de/10013251612
Financial development has a major role in the sustainable economic growth of Central and Eastern European emerging countries, particularly after their political and structural changes. These changes required a reform of financial sectors of these countries, such as capital market development,...
Persistent link: https://www.econbiz.de/10009352645
We analyze a unique data set and uncover a remarkable result that casts a new light on the home bias phenomenon. The data are comprehensive, security-level holdings of emerging market equities by U.S. investors. We document, as expected, that at a point in time U.S. portfolios are tilted towards...
Persistent link: https://www.econbiz.de/10005825763
This paper develops a theory of international trade in which financial development and factor endowments jointly determine comparative advantage. We apply the financial contract model of Holmstrom and Tirole (1998) to the Heckscher-Ohlin-Samuelson (HOS) model in which firms' dependence on...
Persistent link: https://www.econbiz.de/10005826674