This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...

This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...

This publication covers seed and early stage financing for high growth companies in OECD and non-OECD countries with a primary focus on angel investment. Angel investment is the primary source of outside equity financing for start-ups in a number of countries, yet it is frequently overlooked as...

The absence of a theoretical basis that could explain capital flows within private equity markets has prompted us to seek a general explanation for the process that could be applied to any given country. In our opinion, the interaction between supply and demand is directly affected by four...

Previous studies link equity market liberalization to economic growth in emerging markets. In the 24 emerging markets that we study, liberalizations always coincide with other economic reforms, making identification difficult. Theories linking liberalization to growth predict that at the...

This report highlights the growth in support for financial instruments for seed and early stage firms across OECD member countries. These instruments include grants, loans and guarantee schemes, tax incentives and equity funds. This increased support is linked to the recent financial crisis and...

There is no doubt that Cuba is working hard to attract foreign investors. In 2014 its foreign investing laws were completely reformed to accommodate this, however, it may be too early to determine whether these reforms actually reduce investor risk. For foreign investors ready to make the move...

In this paper we review the pricing and model calibration of Credit Default Swaps referring to both the International Swaps and Derivatives Association (ISDA) CDS contract and credit model standardization guidelines. Furthermore we provide an Excel pricing workbook to supplement the materials...

The rapid development of a new comparative advantage in the hi-tech sector in Israel in the period 1995-2005 provides an example of a new form of foreign direct investment (FDI). Unlike traditional FDI, this new form of international investment that we dubbed financial foreign direct investment...