In June 2007 the largest private equity bid in the UK and the first to target an FTSE 100 listed company was completed. Alliance Boots, the pharmacy, healthcare and beauty retailer and wholesaler was bought out by AB Acquisitions, an investment vehicle owned by Kohlberg Kravis Roberts and Stefano Pessina.
Family Office in Italy. Description on best practices for the management of family business with case studies, benchmark and several references. Published in Italian
Keywords:Family Office, Family Business, Private Banking, Italy
In 2007 and 2008, Sovereign Wealth Funds (SWFs), mostly from Asia and the Middle East, invested billions of dollars in the stocks of major US financial institutions, but prior to these investments, SWFs were relatively unknown in the US. Following major investments by SWFs in the US stock market, both investors and regulators are taking a closer look at them.
Keywords:Sovereign Wealth Funds, Credit crisis, International financial investment, Global capital, Hedge funds, Investment banks
Since mid-2007 private equity finance activity has undergone significant changes. The nature of these changes is intimately related to the current banking crisis and the underlying causes of the ‘credit crunch’ based on the development of an ‘originate and distribute’ model of lending and based on securitisation.
Carbon emissions trading is a policy instrument that regulates corporate environmental impact by putting a price on carbon, thus creating a new financial market. This paper questions the effectiveness of managing climate change in this way as it suffers from several drawbacks.
Keywords:Carbon emissions trading, Climate change, Environment, Financial markets,
European Union ETS, Clean development mechanism.
Operational risk arises from the possibility of losses resulting from the failure of people, processes, and systems and from external factors. Although it has been around since the
creation of the Planet, operational risk has recently attracted the attention of regulators as well as the financial institutions exposed to it.
Keywords:Operational Risk, Basel II, Advanced Measure Approach
Despite the apparent relevance of Real Options to business decisions, they have had limited impact generally. One problem frequently expressed is that Options Theory is regarded as being notoriously arcane and many discussions that go beyond the conceptual level get trapped in the mathematics.
Keywords:Real Options, Investment decisions, Scenario analysis, Value determination, Eli Lilly, Schering Plough
The worldwide reach, size ($50B) and durability (since 1960) of Madoff’s alleged Ponzi is attributed to the high reputation and international links among Jewish moneymen, serious regulatory lapses including incompetence and possible conflicts of interest by FCC, SEC and other regulators and auditors. Madoff seems to have been an equal opportunity thief, who shamelessly “made off” with funds from close relatives and charities in his scheme.
Keywords:Fraud, Corruption, Conflict of interest, Divestiture, Madoff, Ponzi
This paper focuses on the development of terminology, concepts and instruments to introduce the concept of sustainable development into both financial practice and the financial academic literature. Current developments on financial markets show growing interest for both socially responsible investments (SRI) and sustainable corporate responsibility (CSR).
Keywords:Sustainable finance, Corporate social responsibility, Socially responsible investing, Sustainability
The current focus of financial policy measures in nearly all G20 countries is to rescue commercial banks by running high bail-out programs. If banks can be bailed-out, or rescued from their present plight, everything will get better - that is, by and large, the self-proclaimed belief, or faith, of politicians who struggle to overcome the international financial crisis. But why?
