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This paper analyzes the capital structure of private asset managers in which theacquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles(CoCos) placed with investors. The paper develops a model based on NPL transferprices and residual recovery rates to assess capital...
Persistent link: https://www.econbiz.de/10012868458
Research on infrastructure as an asset class is still in its infancy due to the lack of data. Investors have approached the performance evaluation of infrastructure deals from the lens of either real estate or private equity. We use fund-level cash flow data to construct three performance...
Persistent link: https://www.econbiz.de/10012850236
This chapter is concerned with the relations between public and private regulation in respect of hedge funds, which in their own ways govern and re-shape markets, making moral, fairness and efficiency claims and drawing in regulatory resources where they can. Three hedge fund strategies are...
Persistent link: https://www.econbiz.de/10012988019
The thesis of this essay, written as a chapter in a forthcoming book, is that in the mutual fund context, the specifics of fiduciary duty reflect the distinctive qualities of this form of investment in securities. The particular contours that shape fiduciary duty reflect many factors, including...
Persistent link: https://www.econbiz.de/10012988142
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Voucher privatisation that proceeded in the Czech Republic in the 1990s was a realisation of a unique experiment which resulted in the transfer of almost half of state-owned enterprises to private hands within two years. A substantial part of these private hands was represented by intermediaries...
Persistent link: https://www.econbiz.de/10012517257
Upon the twentieth anniversary of the passage of the Family Medical Leave Act of 1993, activists have been pressed to correct its failure to grant American workers federally funded paid leave similar to those found in other nations that offer expansive social programming. Recent developments...
Persistent link: https://www.econbiz.de/10013034013
The most likely outcome of the strategy of voucher privatization with investment funds may be a two-sided grab fest by … governance needed to restructure newly privatized enterprises after mass privatization efforts. The idea has been that mass … privatization would spread the ownership too wide and make corporate governance difficult.Ellerman examines the likely institutional …
Persistent link: https://www.econbiz.de/10012749173
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