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Financial Theory (financial + theory)
Selected AbstractsVenture Capitalists' Decision to SyndicateENTREPRENEURSHIP THEORY AND PRACTICE, Issue 2 2006Sophie Manigart Financial theory, access to deal flow, selection, and monitoring skills are used to explain syndication in venture capital firms in six European countries. In contrast with U.S. findings, portfolio management motives are more important for syndication than individual deal management motives. Risk sharing, portfolio diversification, and access to larger deals are more important than selection and monitoring of deals. This holds for later stage and for early stage investors. Value adding is a stronger motive for syndication for early stage investors than for later stage investors, however. Nonlead investors join syndicates for the selection and value-adding skills of the syndicate partners. [source] Financial Liberalisation and Economic Development: An AssessmentJOURNAL OF ECONOMIC SURVEYS, Issue 3 2004Paul Auerbach Abstract., The financial sector has always played a central role in economic development, but analysis of its precise role has been hampered by the emphasis on ,real' factors in the main stream of economic thought and the static nature of financial theory. Empirical studies confirm the importance of finance to economic development, but are indecisive on the efficaciousness of the widely advocated policies associated with financial liberalisation. To be successful, strategies for financial liberalisation must deal with problems generated by asymmetric information and have policies to promote competition, the disclosure of information and the maintenance of governmental integrity. [source] On Modelling Speculative Prices: The Empirical LiteratureJOURNAL OF ECONOMIC SURVEYS, Issue 2 2001Elena Andreou Traditionally, financial theory and in particular asset pricing models have assumed (implicitly or explicitly) a certain probabilistic structure for speculative prices. The probabilistic structure is usually defined in terms of specific statistical models and relates to the dependence, heterogeneity and the distribution of such prices. The primary objective of this paper is to trace the development of various statistical models proposed since Bachelier (1900), in an attempt to assess how well these models capture the empirical regularities exhibited by data on speculative prices. [source] A Pricing Model for Quantity ContractsJOURNAL OF RISK AND INSURANCE, Issue 4 2004Knut K. Aase An economic model is proposed for a combined price futures and yield futures market. The innovation of the article is a technique of transforming from quantity and price to a model of two genuine pricing processes. This is required in order to apply modern financial theory. It is demonstrated that the resulting model can be estimated solely from data for a yield futures market and a price futures market. We develop a set of pricing formulas, some of which are partially tested, using price data for area yield options from the Chicago Board of Trade. Compared to a simple application of the standard Black and Scholes model, our approach seems promising. [source] | ||||||||||