Mariassunta Giannetti, Andrei Simonov Which Investors Fear Expropriation? Evidence from Investors' Portfolio Choices (01 Jun 2004) Available at ECGI: http://ecgi.global/working-paper/which-investors-fear-expropriation-evidence-investors-portfolio-choices
We study the impact of leveraged buyouts in Germany on employees' wages, employment, and career paths. We contrast different views of buyouts, which see LBOs as facilitators of organizational and technological modernization, or as vehicles for...Read more
This paper explores how affiliation to financial conglomerates relates to hedge funds’ funding and risk taking. We find that financial-conglomerate-affiliated hedge funds (FCAHFs) have more stable funding than other hedge funds.
This essay discusses the economic case for regulating shadow banking. Focusing on systemic risk, shadow banking is defined as leveraging on collateral to support liquidity promises. Regulating shadow banking is efficient because of the negative...Read more
We find that board gender diversity increases the likelihood that firms announce a buyback but long-term excess returns are significantly smaller when there are females on the board. Hence, it appears that boards with women are less able to time...Read more