Sovereign wealth funds have recently moved to the front and center of discussion, both within the investment world and the political arena. In this paper we evaluate the differences and common features of these funds. Utilizing an ownership database, we probe the ownership, geographic, and...

This paper offers an explanation regarding financing strategies of corporations in selected countries in emerging markets. We develop a partial equilibrium model in which preferred shares are issued by value maximizing corporations and bought by return maximizing investors. We concludes that...

This article proposes two extensions of current practice in applying duration gaps for macrohedging the equity position of a financial institution against interest rate risk. The first adjusts for the relative convexities of the asset and liability portfolios, which we call the convexity gap....

In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value for acquirers and targets. We contribute to the literature in three important areas. First, we contribute to the literature on signaling by investigating whether a takeover...

In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value for acquirers and targets. We contribute to the literature in three important areas. First, we contribute to the literature on signaling by investigating whether a takeover...