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Swiss Cantonal Banks : A DEA Efficiency and Productivity Analysis

Bandyopadhyay, Trishit - 2020

This paper applies a data envelopment analysis (DEA) to study the efficiency and productivity changes in the Swiss …. The third-stage DEA scores support the evidence of slightly decreasing average post-global crisis technical efficiency … cantonal bank sector in the period 2006-2014. The efficiency analysis is conducted by applying the production input …

Persistent link: https://www.econbiz.de/10012844654

Testing Interest Rate Models for Solvency II Applications

Ostrovski, Vladimir - 2016

Interest rates are one of the main risk factors for insurance companies. Both assets and liabilities react to the movement of interest rates. Therefore, it is essential to have an adequate model of interest rates for Solvency II applications. Here, we address some of the existing issues under...

Persistent link: https://www.econbiz.de/10012999635

Financial Intermediation in Private Equity : How Well Do Funds of Funds Perform?

Harris, Robert S. - 2017

This paper focuses on funds of funds (FOFs) as a form of financial intermediation in private equity (both buyout and venture capital). After accounting for fees, FOFs provide returns equal to or above public market indices for both buyout and venture capital. While FOFs focusing on buyouts...

Persistent link: https://www.econbiz.de/10012971566

Does Competition between Stars Increase Output? Evidence from Financial Analyst Forecasts

Aharoni, Gil - 2019

Top sportsmen often refer to competition against other top sportsmen as a motivation to exert more effort. We examine whether a similar pattern exists among another group of top professionals – star analysts. Our evidence suggests that star analysts concentrate their efforts and generate...

Persistent link: https://www.econbiz.de/10012904927

An Empirical Assessment of the Impact of Insurance Premiums in the Face of Catastrophic Losses As Well As Cost of Capital

Anning, Frederick - 2018

The issues regarding catastrophic losses is quite an important factor to consider in the course of insurance and the issuance of CAT bonds. This not withstanding the issue of cost of capital is quite undeniable should an assessment of this magnitude be done. Researchers have indicated that...

Persistent link: https://www.econbiz.de/10012911024

Hedge Funds and Treasury Market Price Impact : Evidence from Direct Exposures

Alquist, Ron; Yamarthy, Ram - 2022

Financial intermediaries play a key role in the formation of asset prices. More specifically, the increasing importance of non-bank financial intermediaries has raised new questions about the risks that hedge funds pose to the financial system. We focus on the role that changes in hedge fund...

Persistent link: https://www.econbiz.de/10013492143

Purchase and Redemption Decisions of Mutual Fund Investors and the Role of Fund Families

Jank, Stephan - 2010

This paper investigates the purchases and redemptions of a large cross-sectional sample of German equity funds. We find that investors punish bad performance by selling their shares, but also have a tendency to sell winners. Investors in large fund families show higher sales and redemption...

Persistent link: https://www.econbiz.de/10013141827

Purchase and redemption decisions of mutual fund investors and the role of fund families

Jank, Stephan; Wedow, Michael - 2010

Persistent link: https://www.econbiz.de/10003967206

Purchase and redemption decisions of mutual fund investors and the role of fund families

Jank, Stephan; Wedow, Michael - 2010

Persistent link: https://www.econbiz.de/10008666514

Fund Family Tournament and Performance Consequences : Evidence from the UK Fund Industry

Zhang, Zhichao - 2019

By applying tournament analysis to the UK Unit Trusts data, the results support significant risk shifting in the family tournament; i.e. interim winning managers tend to increase their level of risk exposure more than losing managers. It also shows that the risk-adjusted returns of the winners...

Persistent link: https://www.econbiz.de/10012904997