Az elmúlt években a fejlett országok növekedésének lassulása, a kockázatitőke-piac szabályozásának szigorodása a feltörekvő piacok felé fordította a befektetőket. Ezáltal Közép-Kelet-Európa kockázatitőke-piaca is átmenetileg e folyamat haszonélvezőjévé vált. A...

Tanulmányunkban a kisvállalkozás-finanszírozás Magyarországon egy kevésbé is mert formáját kívánjuk bemutatni. Az úgynevezett üzleti angyalok (business angels) olyan nem intézményi kockázatitőke-befektetők, akik részesedést szereznek tőzs dén nem jegyzett, növekedni...

Credit rationing is a classical phenomenon studied for a long period but the last financial crisis put it in the news. SMEs are particularly affected by this phenomenon and may be the main victims of the financial crisis and economic situation. This paper tries to estimate the scale of credit...

This paper examines the impact of the Sarbanes-Oxley Act on the market reaction and underwriting fees of two methods of choice for underwriting seasoned equity offerings: Bought deals and firm commitment, by Canadian firms cross-listed on major U.S. exchanges. After controlling for offer and...

This study examines the effects of national culture and institutional characteristics on the rating migration dynamics of countries rated by Standard & Poor’s (S&P) during the period January 1985 - October 2011. The study finds that national culture and institutional charac-teristics have...

Venture backed spin-offs represent a low proportion of companies, even of innovative companies. The research question was, whether these companies have an important role in innovation and economic growth. I present the most important indicators of innovation in connection with entrepreneurship,...

We analyse with an event study approach the stock market reaction to Lehman Brothers' filing for chapter 11. Our inquiry on abnormal returns of about 2,700 stocks around the event date documents that RiskMetrics-KLD indexes capture factors affecting investors' reaction to the shock. We also find...

In this paper, we propose a model of the joint dynamics of euro-area sovereign yield curves. The arbitrage-free valuation framework involves five factors and two regimes, one of the latter being interpreted as a crisis regime. These common factors and regimes explain most of the fluctuations in...

In the last decades, following of the global systemic crisis, commercial banks have problems with the lack of operative and truthful information about the effective functioning of its subdivisions. So, appear the necesity of imposing, for banking system, implementation of managerial accouting...

We analyze the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) on corporate bond ratings issued by credit rating agencies (CRAs). We find no evidence that Dodd-Frank disciplines CRAs to provide more accurate and informative credit ratings. Instead, following...