The authors look at the investment allocation process employed by portfolio investors in emerging markets. In particular, they examine the first of a two-stage decision process: first, investors create a subset of countries with investments potential, to be analyzed later in further detail;...

The main purpose of this paper is to examine the growing use of derivatives by Danish pension institutions as a risk management tool to hedge embedded options on their balance sheets. Throughout the 1980s and 1990s it was a widespread practice for Danish pension institutions to guarantee a...

"Zervos documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating agency fees, and expenditures for marketing and...

This paper considers some safeguard measures protecting the investment in mortgage bonds against credit risk. The outset of the discussion is the 200‐year old Danish system of mortgage credit where investor protection primarily has been achieved by ensuring the quality of the mortgage credit...