This document explores two interrelated aspects of leveraging movable assets to facilitate access to finance: first, the implementation of collateral registries for movable assets, and second, the collateralisation of intangible movable assets. Both dimensions benefit from a case study approach....

This paper builds on a new database (PRIVMEDA) in order to assess the progress of the privatisation process in the MEDA countries of Algeria, Egypt, Israel, Jordan, Lebanon, Malta, Morocco, Syria, Tunisia and Turkey. The first part of the paper offers an overview of the privatisation record from...

Euro area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs. The current fiscal framework could be improved by...

Worldwide, primary corporate bond markets have become an increasingly important source of financing for non-financial companies. This trend is coupled with a relative decrease in traditional bank lending to non-financial companies and low levels of bond interest rates. Just as shareholders,...

This report looks specifically at the full array of public policies promoting investment in the renewable energy sector, and discusses their impact on plant entry into the market, with the support of case studies focusing on Germany, the U.S.A. and Australia. It examines differing risk/return...

The main purpose of the article was to analyze the effectiveness of the basic investment strategies used by hedge funds in the long term (years 1994-2015) and during the global financial crisis (years 2007-2009). Using information from commercial databases we attempted to verify the hypothesis...

The issue discussed in the paper is highly relevant and topical in economic practice because of changes in the recognition of certain assets and their depreciation. The author’s research established that depreciation write-off in financial terms constitute capital comprising two components:...

Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is...

Numerous studies on Real Estate Investment Trusts (REITs) have claimed that the high dividend payout requirement has constrained the ability of REITs to use internal earnings and that they have to rely on debt financing to support their funding requirements. However, there is also some empirical...

This study provides an investigation into the link between financial constraints and cash holdings from the perspective of a developing country. It is based on the view that managers acting as agents are managing firms on behalf of shareholders, which is leading to agency conflicts and hence...