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  1. Investor protection and asset prices
    Author: Başak, Suleyman; Chabakauri, Georgy; Yavuz, Mehmet Deniz
    Published: October 2018
    Publisher:  [LSE Financial Markets Group], [London]

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper series / [LSE Financial Markets Group] ; no 779
    Paul Woolley Centre working paper ; no 60
    Subjects: Investor protection; asset pricing; controlling shareholders; expropriation; stock holdings
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  2. Bilateral investment treaties and portfolio investment
    Author: Eichler, Stefan; Nauerth, Jannik A.
    Published: January 2024
    Publisher:  Faculty of Business and Economics, Technische Universität Dresden, [Dresden]

    We analyze the effect of bilateral investment treaties (BITs) on bilateral foreign portfolio investment in equity and debt securities. We find that expropriation risk and the level of a BIT’s investor protection are complementary. Applying a Poisson... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 550
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    We analyze the effect of bilateral investment treaties (BITs) on bilateral foreign portfolio investment in equity and debt securities. We find that expropriation risk and the level of a BIT’s investor protection are complementary. Applying a Poisson Pseudo-Maximum-Likelihood model to a panel of 60 home and 39 host countries from 2002 to 2017, we find that host countries receive 40% more bilateral equity investment when they protect foreign investors with a BIT. This effect almost doubles when investment protection of BITs is strong, and the political risk of the host country is high.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/283594
    RVK Categories: QC 000
    Series: CEPIE working paper ; no. 24, 01
    Subjects: Bilateral investment treaties; Bilateral portfolio investment; Political risk; Investor protection; Emerging markets
    Scope: 1 Online-Ressource (circa 55 Seiten), Illustrationen
    Notes:
  3. Protecting investors in equity crowdfunding
    an empirical analysis of the small investor protection act
    Author: Göthner, Maximilian; Hornuf, Lars; Regner, Tobias
    Published: [2020]
    Publisher:  Friedrich Schiller University Jena, Jena, Germany

    During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 78
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    During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors pledging more than 1,000 EUR now must self-report their income and wealth. Investing more than 10,000 EUR in a single ECF issuer is only possible through a corporate entity. We examine how the Small Investor Protection Act has affected investor behavior at Companisto, Germany's largest ECF portal for startup firms. The results show that after the new law became binding, sophisticated investors invest less on average while casual investors invest more. Moreover, the signaling capacity of large investments has disappeared.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/228311
    Edition: This version: Mai 27, 2020
    Series: Jena economic research papers ; # 2020, 009
    Subjects: Equity crowdfunding; Crowdinvesting; Investor protection
    Scope: 1 Online-Ressource (circa 45 Seiten)
  4. Who falls prey to the Wolf of Wall Street? investor participation in market manipulation
    Author: Leuz, Christian; Meyer, Steffen; Muhn, Maximilian; Soltes, Eugene; Hackethal, Andreas
    Published: 2018
    Publisher:  Universitätsbibliothek Johann Christian Senckenberg, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 609
    Subjects: Börsenkurs; Manipulation; Betrug; Börsenaufsicht; Anlegerschutz; :z Geschichte 2002-2015
    Other subjects: (stw)2002-2015; (stw)Börsenkurs; (stw)Manipulation; (stw)Betrug; (stw)Finanzmarktaufsicht; (stw)Anlegerschutz; (stw)Deutschland; Market manipulation; Pump-and-dump schemes; Securities regulation; Fraud; Investor protection; Lottery stocks; Household finance; 2002-2015; Arbeitspapier; pump-and-dump; Graue Literatur; Arbeitspapier
    Scope: Online-Ressource
  5. Who falls prey to the Wolf of Wall Street?
    investor participation in market manipulation
    Author: Leuz, Christian; Meyer, Steffen; Muhn, Maximilian; Soltes, Eugene; Hackethal, Andreas
    Published: [2018]
    Publisher:  Center for Financial Studies, Goethe University, Frankfurt am Main, Germany

    Manipulative communications touting stocks are common in capital markets around the world. Although the price distortions created by so-called "pump-and-dump" schemes are well known, little is known about the investors in these frauds. By examining... more

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    Manipulative communications touting stocks are common in capital markets around the world. Although the price distortions created by so-called "pump-and-dump" schemes are well known, little is known about the investors in these frauds. By examining 421 "pump-and-dump" schemes between 2002 and 2015 and a proprietary set of trading records for over 110,000 individual investors from a major German bank, we provide evidence on the participation rate, magnitude of the investments, losses, and the characteristics of the individuals who invest in such schemes. Our evidence suggests that participation is quite common and involves sizable losses, with nearly 6% of active investors participating in at least one "pump-and-dump" and an average loss of nearly 30%. Moreover, we identify several distinct types of investors, some of which should not be viewed as falling prey to these frauds. We also show that portfolio composition and past trading behavior can better explain participation in touted stocks than demographics. Our analysis offers insights into the challenges associated with designing effective investor protection against market manipulation.

     
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    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/187484
    Series: CFS working paper series ; no. 609
    Center for Financial Studies Working Paper ; No. 609
    Subjects: Börsenkurs; Manipulation; Betrug; Finanzmarktaufsicht; Anlegerschutz; Deutschland; pump-and-dump; Market manipulation; Pump-and-dump schemes; Securities regulation; Fraud; Investor protection; Lottery stocks; Household finance
    Other subjects: Array
    Scope: 1 Online-Ressource (circa 75 Seiten), Illustrationen
    Notes:

    Datei wurde von der herausgebenden Institution entfernt
  6. Investor protection and asset prices
    Author: Başak, Suleyman; Chabakauri, Georgy; Yavuz, Mehmet Deniz
    Published: 22 January 2019
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 161
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    Location:
    Universitätsbibliothek Mannheim
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    Volltext (lizenzpflichtig)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP13472
    Subjects: Investor protection; asset pricing; controlling shareholders; expropriation; stock holdings
    Scope: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  7. Leverage and corporate performance: International evidence
    Author: González, Víctor M.
    Published: 2012
    Publisher:  Fundación de las Cajas de Ahorros, Madrid

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documento de trabajo / Fundación de las Cajas de Ahorros ; 661
    Subjects: Leverage; Operating performance; Legal origin; Investor protection; Legal enforcement
    Scope: Online-Ressource (59 S.)