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Granting Immunity and Revoking Immunity : A Global Overview of Leniency Programs
Gurkaynak, Gonenc - 2018
Leniency applicants take on significant risks by self-reporting behaviors that may constitute competition law violations.To balance these risks, the requirements for conditional immunity should be set fairly by competition authorities, particularly when it comes to revoking immunity. This...
Persistent link: https://www.econbiz.de/10012923560
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Antitrust for Institutional Investors
Rock, Edward B. - 2017
involvement in corporate governance, the antitrust risk of common ownership has moved to center stage. Through an excess of … enthusiasm, portfolio managers could end up exposing their firms and the portfolio companies to huge antitrust liability. In this … Article, we start from basic antitrust principles to sketch out an antitrust compliance program for institutional investors …
Persistent link: https://www.econbiz.de/10012952725
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Friend or Foe? Bilateral Political Relations and the Portfolio Allocation of Foreign Institutional Investors
Lugo, Stefano; Montone, Maurizio - 2022
We study the role of bilateral political relations in explaining variations in the equity portfolio allocation of foreign institutional investors. Using a large micro sample at the fund-firm-year level, we find that when the relations between two countries become more distant, institutional...
Persistent link: https://www.econbiz.de/10014238304
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Optimal Currency Shares in International Reserves : The Impact of the Euro and the Prospects for the Dollar
Papaioannou, Elias; Portes, Richard; Siourounis, Gregorios - 2021
Foreign exchange reserve accumulation has risen dramatically in recent years. The introduction of the euro, greater liquidity in other major currencies, and the rising current account deficits and external debt of the United States have increased the pressure on central banks to diversify away...
Persistent link: https://www.econbiz.de/10013317364
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Disentangling domiciles and investor locations in international mutual fund data
Rakowski, David A. - 2021
We reconcile investor locations with legal domiciles for a large sample of mutual funds from different countries. In general, legal domiciles provide reasonable proxies for investor locations but with several concerns for funds domiciled in Europe. In our analysis, the fund hub of Luxembourg is...
Persistent link: https://www.econbiz.de/10013313534
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On the effect of investment disputes on bilateral portfolio investment in emerging markets
Nauerth, Jannik A. - 2023
This paper investigates the effect of arbitral proceedings on bilateral portfolio equity investments in emerging markets. Investment disputes may deter foreign investors as they reveal a government’s poor behavior towards foreign investors. The analysis investigates the effects of the first...
Persistent link: https://www.econbiz.de/10014471121
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Machine Earning – Algorithmic Trading Strategies for Superior Growth, Outperformance and Competitive Advantage
Burgess, Nicholas - 2021
intelligence (AI) and machine learning (ML).We discover using valuation theory from (SBS2, 2020) that algos generate superior …
Persistent link: https://www.econbiz.de/10013235784
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Risk-on/risk-off, capital flows, leverage, and safe assets
McCauley, Robert N. - 2013
This paper describes the international flow of funds associated with calm and volatile global equity markets. During calm periods, portfolio investment by real money and leveraged investors in advanced countries flows into emerging markets. When central banks in the receiving countries resist...
Persistent link: https://www.econbiz.de/10009690839
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Cultural Influences on Domestic and Foreign Bias in International Asset Allocation
Burghof, Hans-Peter - 2013
This paper examines determinants of domestic (investors overweight their domestic market) and foreign bias (investors over- or underweight foreign markets) in international asset allocation from 26 developed and developing countries. In particular, we document robust evidence that...
Persistent link: https://www.econbiz.de/10013078584