PSN: Other International Political Economy: Investment & Finance (Topic)最新文献_第2页

A risk not worth taking - The corporate bond liquidity factor 不值得冒的风险——公司债券的流动性因素

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-07-15 DOI: 10.2139/ssrn.3887421

Fabian Dienemann

引用次数: 0

Financial Frictions and International Trade 金融摩擦与国际贸易

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-07-01 DOI: 10.20955/wp.2021.009

Fernando Leibovici, Michal Szkup, D. Kohn

引用次数: 0

Intertemporal Income Shifting for Investment Reasons: Evidence From Private Firms 投资原因下的跨期收入转移:来自私营企业的证据

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-06-08 DOI: 10.2139/ssrn.3581685

Cinthia Valle Ruiz, Domenico Campa, M. Camacho-Miñano

引用次数: 0

Africanization and the Reform of International Investment Law 非洲化与国际投资法改革

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-06-08 DOI: 10.2139/ssrn.3766357

Olabisi D. Akinkugbe

{"title":"Africanization and the Reform of International Investment Law","authors":"Olabisi D. Akinkugbe","doi":"10.2139/ssrn.3766357","DOIUrl":"https://doi.org/10.2139/ssrn.3766357","url":null,"abstract":"Recent trends in reforms by African states in the field of International Investment Law (IIL) has been dubbed as the Africanization of IIL. These important debates regarding reform of IIL in Africa foreground innovative aspects of International Investment Agreements (IIA) in contrast to the traditional IIL regime. The debates also remind us of the relative lack of African voices in the global IIL reform agenda. There is however little research that critically analyze the Africanization of IIL thesis. <br><br>This article undertakes this analysis. Drawing on TWAIL, it characterizes Africanization of IIL into ‘moderate’ and ‘radical’ reforms. The article analyzes the normative features of Africanization of IIL. In this regard, it enriches existing substantive analysis, and advances the debates by interrogating the contours and blind spots of Africanization in IIL. It argues that the Africanization thesis being so far limited to the IIAs between African states, is a ‘moderate’ response from below to the systemic inequities of the IIL regime. Moderate Africanization of IIL – modest and incremental approach to the reform of IIL engenders challenges for African states as they remain nestled in the neoliberal paradigm. To address this deficit and expand the geographies of African centered IIAs to reform and remake IIL, the article makes the case for a cascading of the Africanization thesis in more radical normative form based on a constellation of strategic moderate changes.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"21 12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116079441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Rush to Raise: Does Fundraising Pressure Incentivize Strategic Venture Capital Deal Pricing? 急于融资:融资压力是否激励了战略风险投资交易定价?

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-05-22 DOI: 10.2139/ssrn.3851819

Peter K. Pham, Nick Turner, Jason Zein

引用次数: 2

Too Big to Fail, Too Small to Win: The Counter-Hegemony of WallStreetBets 大而不能倒，小而不能赢:华尔街赌注的反霸权

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-05-18 DOI: 10.2139/ssrn.3849770

Usman W. Chohan

引用次数: 4

In Vogue Again: The Re-Rise of SPACs in the IPO market 再次流行:spac在IPO市场的重新崛起

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-04-04 DOI: 10.2139/ssrn.3820957

Maria Lucia Passador

{"title":"In Vogue Again: The Re-Rise of SPACs in the IPO market","authors":"Maria Lucia Passador","doi":"10.2139/ssrn.3820957","DOIUrl":"https://doi.org/10.2139/ssrn.3820957","url":null,"abstract":"Were we to distill 2020 into a single word, from the capital markets’ perspective at least, it would certainly be SPACs, which – although to a different extent – are now having their momentum on both shores of the pond. If, in the United States, SPACs are really enjoying a new lease of life due to the pandemic, as if they were Charon ferrying markets through the darkest of waters, in Europe, although data are not comparable to those registered across the Atlantic, the outlook seems positive. \u0000 \u0000This article focuses on SPACs in the U.S. pre-Covid scenario (between January 2010 and December 2019), in order to understand their structural changes over the years and the grounds for their recent resurgence. Firstly, it aims to identify the length and profitability of such an investment phenomenon and understand the behavior of institutional investors in this context. Then, the possible investment shifts in the sector of SPACs, driven by the 2020 post Covid bubble, are analyzed, relying on data retrieved from different providers and players, and specifically focusing on three main current concerns: the increasing litigation phenomenon, the (resulting) increase in D&O insurance costs, and the engagement of PIPEs as guarantors of the soundness and of the successful outcome of the transaction. \u0000 \u0000The results of this analysis may lead to several considerations and wide-ranging policy implications, but most importantly they reasonably prompt the belief that U.S. SPACs will hold a foreground role in the near future, not plunging back into the shadows (or even worse into the darkness that they had been living in for years), especially if some disclosure tools, like the one suggested here with regard to their sponsors, are implemented. Moreover, SPACs will certainly be able to update and evolve for good, as they have showed themselves capable of doing in the past, thus overcoming the problems and perplexities raised about them.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129999280","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The Emerging Asia Pacific Capital Markets: India 新兴亚太资本市场:印度

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-03-18 DOI: 10.2139/SSRN.3807410

Rajendra Kalur, Shwetabh Sameer

{"title":"The Emerging Asia Pacific Capital Markets: India","authors":"Rajendra Kalur, Shwetabh Sameer","doi":"10.2139/SSRN.3807410","DOIUrl":"https://doi.org/10.2139/SSRN.3807410","url":null,"abstract":"The Indian capital markets have experienced a significant structural transformation since India opened its economy to the world in the 1990s. Today it boasts two of the world’s largest stock exchanges—NSE and BSE—and is considered one of the most preferred investment destinations for international capital, as evidenced by continued growth in foreign investments. In addition, the asset management industry has seen massive growth, with increasing interest from domestic retail investors. These developments can be attributed to a series of supportive steps undertaken by the Indian government, regulators, and policymakers, which adopted a more business-friendly stance. That said, India is still far away from tapping the full potential that it can achieve. Its fixed-income and commodity markets are still shallow, with fewer incentives for market participants. Moreover, the exchange-traded fund industry is still in its infancy when it comes to investor awareness and market structure. In order for Indian markets to achieve their full potential, stakeholders need to come together and take steps that can remove bottlenecks and ensure that the huge amount of savings available in the economy is harnessed sufficiently to power the growth engine, as the Indian economy grows toward achieving the $5 trillion target.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125723472","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A penalized two-pass regression to predict stock returns with time-varying risk premia 具有时变风险溢价的股票收益预测的惩罚双通道回归

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-01-31 DOI: 10.2139/ssrn.3777215

Gaetan Bakalli, S. Guerrier, O. Scaillet

引用次数: 4

Donors, Buyers, and Information Disclosure in Crowdfunding Markets: A Case of Platform Split-up 众筹市场中的捐赠者、买家与信息披露:一个平台拆分的案例

PSN: Other International Political Economy: Investment & Finance (Topic) Pub Date : 2021-01-24 DOI: 10.2139/ssrn.3723845

Lubin Yan, Ting Zhu, Qiang Liu

{"title":"Donors, Buyers, and Information Disclosure in Crowdfunding Markets: A Case of Platform Split-up","authors":"Lubin Yan, Ting Zhu, Qiang Liu","doi":"10.2139/ssrn.3723845","DOIUrl":"https://doi.org/10.2139/ssrn.3723845","url":null,"abstract":"Crowdfunding platforms, a fast-growing method for entrepreneurs to finance their ventures, are struggling in improving crowdfunding campaigns’ market performance as platforms expand to include more diverse participants. In this paper, the authors study how a platform policy that changes the platform size and backer composition (donors vs. buyers) influences the platform participant behaviors and the platform market outcomes, using an event study of Indiegogo’s launch of Generosity.com for charity campaigns. Their results show a higher probability of reaching funding goals and more funds collected for the Indiegogo platform's business campaigns after the platform split-up. Such changes are driven by fewer campaigns being launched on Indiegogo after the platform change, and more importantly, more costly campaign information (such as images and videos) provided by the campaign creators. Buyers are more sensitive to such campaign information and, therefore, contribute more to campaigns after the platform change. These results are consistent with the notion that the entrepreneurs’ information disclosure strategy is driven by potential backers’ motivations to support the campaign. The study provides rich and important managerial implications for platforms and their participants.","PeriodicalId":367023,"journal":{"name":"PSN: Other International Political Economy: Investment & Finance (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114580327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0