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This book helps readers understand the widely documented distortion in the portfolio choice of individual investors toward proximate firms – the proximity bias phenomenon. First, it recapitulates the fundamentals of modern portfolio theory. It then goes on to describe and demonstrate different approaches on how to measure proximity bias and identifies and examines potential motives and reasons for such a bias. In addition, the book presents new analysis on the financial effects of individual investors’ proximity bias, explaining and contributing with possible policy implications on their portfolio distortion. This book will be of interest to students and researchers, as well as decision-makers in business firms and households.  .

Investments --- Capital market. --- Psychological aspects. --- Capital markets --- Market, Capital --- Finance. --- Investment banking. --- Securities. --- Investments and Securities. --- Capital Markets. --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investment banking --- Banks and banking, Investment --- Investment banks --- Law and legislation

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This book introduces and explains how to conduct a Social Return on Investment (SROI) analysis. It discusses the various advantages and disadvantages of different research strategies and designs, and explores the different ways in which SROI analysis results can be used for communication, outreach, and strategic decision-making. It provides insights into how and to what extent SROI analyses can help to meet different expectations, and presents different social impact research designs and methods. It presents an analytical framework for the identification of a proper SROI analysis, and shows readers how to establish an impact model, introducing a stakeholder-based approach.

Investments --- Investment analysis. --- Social aspects. --- Finance. --- Investment banking. --- Securities. --- Capital investments. --- Investment Appraisal. --- Investments and Securities. --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Law and legislation

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Im Mittelpunkt des Buches steht die Modellierung des für die Assekuranz am deutschen Kapitalmarkt noch nicht vorhandenen regulierten und fungiblen Spezial-Alternativen Investmentfonds (AIF) für PPP-Immobilien. Die Autorin strukturiert den Spezial-AIF ganzheitlich, indem sie die Investitionsobjekte PPP-Immobilien analysiert sowie die Kapitalanlagevorschriften für die Versicherungsunternehmen und das Fondsvehikel berücksichtigt. Susanne Effenberger zeigt, dass sich auf Basis realisierter PPP-Immobilien unterschiedlich diversifizierte, effiziente PPP-Immobilien-Portfolios experimentell konzipieren lassen. Aufgrund der langfristigen, stabilen Renditen der PPP-Immobilien bietet sich jedoch insbesondere die Modellierung von Spezial-AIFs mit mittleren Renditen und geringen bis mittleren Risiken an, die wiederum interessante Anlagemöglichkeiten für die risikoaversen Versicherer darstellen. Der Inhalt PPP-Immobilien als Investitionsobjekte Kapitalanlagevorschriften für Versicherungsunternehmen Anlagebedingungen für Spezial-AIF Experimentelle Modellierung Spezial-AIFs auf Basis PPP-Immobilien von Hannover Leasing Die Zielgruppen Dozierende und Studierende der Finanzwirtschaft, Public Private Partnership und Betriebswirtschaftslehre Praktizierende aus der Investment-/ Fondsbranche (Anlageklasse Infrastruktur, Immobilien), institutionelle Investoren, Bedienstete der Öffentlichen Hand Die Autorin Als Projektleiterin in der Assetklasse Infrastruktur realisierte, strukturierte und finanzierte Susanne Effenberger große PPP-Projekte für private und institutionelle Investoren.

Investment banking. --- Securities. --- Real estate management. --- Finance, Public. --- Investments and Securities. --- Real Estate Management. --- Public Finance. --- Cameralistics --- Public finance --- Currency question --- Property management --- Apartment houses --- Housing --- Office buildings --- Real estate business --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Law and legislation --- Public finances

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Rejecting a common assumption in the sovereign debt literature, we document that creditor losses (“haircuts”) during sovereign restructuring episodes are asymmetric across debt instruments. We code a comprehensive dataset on instrument-specific haircuts for 28 debt restructurings with private creditors in 1999–2015 and find that haircuts on shorter-term debt are larger than those on debt of longer maturity. In a standard asset pricing model, we show that increasing short-run default risk in the run-up to a restructuring episode can explain the stylized fact. The data confirms the predicted relation between perceived default risk, bond prices, and haircuts by maturity.

Exports and Imports --- Financial Risk Management --- Investments: General --- Investments: Bonds --- Macroeconomics --- International Lending and Debt Problems --- Open Economy Macroeconomics --- Debt --- Debt Management --- Sovereign Debt --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Inflation --- Deflation --- Investment & securities --- International economics --- Finance --- Asset prices --- Bonds --- Securities --- Debt default --- Debt restructuring --- Prices --- Financial institutions --- External debt --- Asset and liability management --- Debts, External --- Financial instruments --- Greece

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We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced and developing economies over the period from 1970 to 2015. We find that a 10 percent increase in global oil inflation increases, on average, domestic inflation by about 0.4 percentage point on impact, with the effect vanishing after two years and being similar between advanced and developing economies. We also find that the effect is asymmetric, with positive oil price shocks having a larger effect than negative ones. The impact of oil price shocks, however, has declined over time due in large part to a better conduct of monetary policy. We further examine the transmission channels of oil price shocks on domestic inflation during the recent decades, by making use of a monthly dataset from 2000 to 2015. The results suggest that the share of transport in the CPI basket and energy subsidies are the most robust factors in explaining cross-country variations in the effects of oil price shocks during the this period.

Petroleum products --- Mazut --- Petroleum --- Hydraulic fluids --- Prices --- Econometric models. --- Refining --- Investments: Energy --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Deflation --- Prices, Business Fluctuations, and Cycles: Forecasting and Simulation --- Energy and the Macroeconomy --- Energy: Demand and Supply --- Energy: General --- Monetary Policy --- Investment & securities --- Monetary economics --- Oil prices --- Oil --- Consumer price indexes --- Inflation targeting --- Commodities --- Monetary policy --- Petroleum industry and trade --- Price indexes --- United States