FMG Discussion Papers

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2006: Evolution of Decision and Control Rights in Venture Capital Contracts: An Empirical Analysis

Uwe Walz and Carsten Bienz

2006: (Corporate Governance Series No 002) The role of prestige and networks in outside director appointment

Thomas Kirchmaier

2006: Liquidity and Capital Structure

Andrew Carverhill and Ron Anderson

2006: Financial structure, managerial compensation and monitoring

Sonja Daltung and Vittoria Cerasi

2006: Recovery Rates, Default Probabilities and the Credit Cycle

Carlos González-Aguado and Max Bruche

2006: Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?

Stijn Claessen and Valentina Bruno

2006: Are there Monday effects in Stock Returns: A Stochastic Dominance Approach

Yoon-Jae Whang, Young-Hyun Cho and Oliver Bruce Linton

2006: Money Illusion and Housing Frenzies

Markus K. Brunnermeier and Christian Julliard

2006: Monetary Policy and its Informative Value

Camille Cornand and Romain Baeriswyl

2006: (UBS Pensions Series 043) The Optimal Design of Funded Pensions

Luciano G. Greco

2006: Regionality Revisited: An Examination of the Direction of Spread of Currency Crises

Anja K. Shortland, Roberto Leon-Gonzalez and Amil Dasgupta

2006: Speculative Attacks with Multiple Sources of Public Information

Frank Heinemann and Camille Cornand

2006: Choice of Corporate Risk Management Tools under Moral Hazard

Jan Bena

2006: (UBS Pensions series 034) Long-Term Care Insurance, Annuities and Asymmetric Information: The Case for Bundling Contracts

David Webb

2006: Incentive Design under Loss Aversion

David de Meza and David Webb

2006: Consistent Measures of Risk

Casper G. de Vries, Mandira Sarma, Bjorn N. Jorgensen, Jean-Pierre Zigrand and Jon Danielsson

2006: (UBS Pensions Series 041) The Economics of Pensions

Peter A. Diamond and Nicholas Barr

2006: (UBS Pensions Series 040) Pensions: Overview of Issues

Nicholas Barr

2006: Equilibrium Asset Pricing with Systemic Risk

Jean-Pierre Zigrand and Jon Danielsson

2006: Hedge Funds and Financial Stability: Explaining the Debate at the Financial Stability Forum

Paola Robotti

2006: The Dark Side of Good Corporate Governance

Mariano Selvaggi and Thomas Kirchmaier

2006: Conditional Probabilty of Default Methodolgy

Miguel Segoviano

2006: Consistent Information Multivariate Density Optimizing Methodology

Miguel Segoviano

2006: Rent Extraction by Large Shareholders: Evidence Using Dividend Policy in the Czech Republic

Jan Hanousek and Jan Bena

2006: Towards a Measure of Financial Fragility

Lea Zicchino, Dimitrios Panayotis Tsomocos, Charles Goodhart and Oriol Aspachs Bracon

2006: Imperfect Common Knowledge in First Generation Models of Currency Crises

Gara M. Afonso

2005: (Corporate Governance Series No 001) Corporate Governance in the UK: is the Comply-or-Explain Approach Working?

Valentina Bruno and Sridhar Arcot

2005: (UBS Pensions Series 039) Rare Events and Annuity Market Participation

Alexander Michaelides and Paula Lopes

2005: The Dynamics of Venture Capital Contracts

Julia Hirsch and Carsten Bienz

2005: Comparing Downside Risk Measures for Heavy Tailed Distributions

Casper G. de Vries, Bjorn N. Jorgensen, Sarma Mandira and Jon Danielsson

2005: Subadditivity Re–Examined: the Case for Value-at-Risk

Casper G. de Vries, Gennady Samorodnitsky, Bjorn N. Jorgensen, Sarma Mandira and Jon Danielsson

2005: On Modelling Endogenous Default

Dimitrios Panayotis Tsomocos and Lea Zicchino

2005: The Interest Rate Conditioning Assumption

Charles Goodhart

2005: An Essay on the Interactions between the Bank of England's Forecasts, The MPC's Policy Adjustments, and the Eventual Outcome

Charles Goodhart

2005: ART versus reinsurance: the disciplining effect of information insensitivity

Silke Brandts

2005: Minority Blocks And Takeover Premia

Fausto Panunzi, Denis Gromb and Mike Burkart

2005: (UBS Pensions Series 038) Reforming Public Pensions in the US and the UK

Peter A. Diamond

2005: (UBS Pensions Series 036) Dynamic portfolio and mortgage choice for homeowners

Otto van Hemert, Joost Driessen and Frank de Jong

2005: (UBS Pensions Series 035) Asset Pricing with Limited Risk Sharing and Heterogeneous Agents

Francisco Gomes and Alexander Michaelides

2005: Financial Tunnelling and the Revenge of the Insider System

Jeremy Grant and Thomas Kirchmaier

2005: IMF concern for reputation and conditional lending failure: theory and empirics

Silvia Marchesi and Laura Sabani

2005: Rational Trader Risk

Peter Kondor

2005: The more we know, the less we agree: public announcements and higher-order expectations

Peter Kondor

2005: Spot Market Power and Future Market Trading

Stephen Shore and Alexander Muermann

2005: A Model of Corporate Liquidity

Andrew Carverhill and Ron Anderson

2005: (UBS Pensions Series 033) Can the retirement-consumption puzzle be resolved? Evidence from the British Household Panel Survey

Sarah Smith

2005: (UBS Pensions Series 032) Pension Plan Funding, Risk Sharing and Technology Choice

David Webb

2004: (UBS Pensions Series 031) Immigration or bust? Options for securing the future viability of the UK state pension system

Les Mayhew

2004: (UBS Pensions Series 030) Credible Pensions

Andrea Prat (Timothy Besley)

2004: (UBS Pensions series 29) Barriers to pension scheme participation in small and medium sized enterprises

Debbie Harrison and Alistair Byrne

2004: (IAM Series No 005) Are “Market Neutral” Hedge Funds Really Market Neutral?

Andrew Patton

2004: Conglomerate Entrenchment under Optimal Financial Contracting

Roman Inderst

2004: Strategic Financial Innovation in Segmented Markets

Jean-Pierre Zigrand and Rohit Rahi

2004: (UBS Pensions series 28) Portfolio Choice and Wealth Accumulation with Taxable and Tax-Deferred Accounts

Francisco Gomes, Alexander Michaelides and Valery Polkovnichenko

2004: (IAM Series No 004) Highwaymen or Heroes: Should Hedge Funds be Regulated?

Jean-Pierre Zigrand, Ashley D. Taylor and Jon Danielsson

2004: A GARCH Model of the Implied Volatility of the Swiss Market Index from Options Prices

Michael Sabbatini and Oliver Bruce Linton

2004: Yield Curve Estimation by Kernel Smoothing

C Taanggard, J Nielsen, Enno Mammen and Oliver Bruce Linton

2004: The Shape of the Risk Premium: Evidence from a Semiparametric GARCH Model

Benoit Perron and Oliver Bruce Linton

2004: Flexible Term Structure Estimation: Which Method is Preferable?

Thong Nguyen, Andrew Jeffrey and Oliver Bruce Linton

2004: Estimation of Linear Regression Models by a Spread-Tolerant Estimator

Oliver Bruce Linton

2004: Estimating Semiparametric ARCH Models by Kernel Smoothing Methods

Enno Mammen and Oliver Bruce Linton

2004: A Local Instrumental Variable Estimation Method For Generalized Additive Volatility Models

Woocheol Kim and Oliver Bruce Linton

2004: Consistent Testing for Stochastic Dominance: A Subsampling Approach

Yoon-Jae Whang, Esfandiar Maasoumi and Oliver Bruce Linton (Esfandiar Maasoumi and Esfandiar Maasoumi)

2004: Opening and Closing the Market: Evidence from the London Stock Exchange

Hyun Song Shin, Ian Tonks and Andrew Ellul

2004: (UBS Pensions series 26) Defined Benefit or Defined Contribution? An Empirical Study of Pension Choices

Joao F. Cocco and Paula Lopes

2004: Eurobond Underwriter Spreads

Neil Esho and Ian Sharpe

2004: Estimation and Testing of Dynamic Models with Generalised Hyperbolic Innovations

Enrique Sentana

2004: A Semiparametric Single-Factor Model of the Term Structure

Dennis Kristensen

2004: Estimation in Two Classes of Semiparametric Diffusion Models

Dennis Kristensen

2004: (UBS Pensions series 25) The Wrong Kind of Transparency

Andrea Prat

2004: Spanning Tests in Return and Stochastic Discount Factor Mean-Variance Frontiers: A Unifying Approach

Enrique Sentana and Francisco Penaranda

2004: Career Concerns in Financial Markets

Andrea Prat and Amil Dasgupta

2004: Real Effects of Regional House Prices: Dynamic Panel Estimation with Heterogeneity

Sonia Munoz

2004: (UBS Pensions series 24) A Human Capital Explanation for an Asset Allocation Puzzle

Alexander Michaelides and Francisco Gomes

2004: Multiple-bank lending: diversification and free-riding in monitoring

Sonja Daltung, Vittoria Cerasi and Elena Carletti

2004: General Properties of Rational Stock-Market Fluctuations

Antonio Mele

2004: A Theory of Sovereign Debt Roll-over Crisis

Masazumi Hattori

2004: (UBS Pensions series 23) Sponsoring Company Finance and Investment and Defined Benefit Pension Scheme Deficits

David Webb

2004: (UBS Pensions series 22) Performance of Personal Pension Schemes in the UK

Alan Gregory and Ian Tonks

2004: (UBS Pensions series 21) Stopping short? Evidence on contributions to long-term savings from aggregate and micro data

Sarah Smith

2004: (IAM Series No 003) Simple Tests for Models of Dependence Between Multiple Financial Time Series, with Applications to U.S. Equity Returns and Exchange Rates

Yanqin Fan, Xiaohong Chen and Andrew Patton

2004: IPO Underpricing During the Boom: A Block-Booking Explanation

Kevin James

2004: Block-Booking and IPO Share Allocation: The Importance of Being Ignorant

Céline Gondat-Larralde and Kevin James

2004: Continous Time Optimal Stochastic Growth: Local martingales, Transversality and Existence

Lucien Foldes

2004: Principal Agent Problems Under Loss Aversion: An Application to Executive Stock Options

David de Meza and David Webb

2004: (IAM Series No 002) An Intro to Hedge Funds

Mason Woo and Gregory Connor

2004: Simulated Nonparametric Estimation of Continuous Time Models of Asset Prices and Returns

Antonio Mele and Filippo Altissimo