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NEWSLETTER of March 13, 2020

 

The following content has been added at finexpert:


Studies > Performance

Deutsche Bank Research

GERMAN ROBO-ADVISORS: MARCH OF THE MACHINES DRIVING PASSIVE INVESTMENTS

German retail clients have shown relatively little interest in passive investment alternatives, compared to traditional mutual funds. Robo-advisors, which primarily invest in ETFs, have seen the number of their clients and AuM grow. German robo-advisors could manage about EUR 25-35 bn in 2025, up from EUR 4 bn today. >more

Studies > Corporate Finance

Baker & McKenzie

THE FUTURE OF CAPITAL RAISING IN BIOTECH AND PHARMA

The Future of Capital Raising in Biotech and Pharma
Baker & McKenzie - Despite a decline in overall global activity and a wariness from investors toward pre-profit companies in some industries, the biopharma sector continues to see significant levels of interest and investment. This is being driven by a number of factors, including a strong pipeline of innovative technology and new drugs in advanced R&D stages, robust demand from investors, who seek to leverage the higher returns on investment associated with the industry and the need for pharma companies to replenish their pipeline to secure future revenue. >more

Studies > Risk Management

Willis Towers Watson

PENSION RISK MANAGEMENT UND ANLAGE VON PENSIONSVERMÖGEN 2019

Regulated and unregulated investors have increased the allocation of their pension assets to alternative assets. By contrast, investments in the traditional "save haven" asset classes and the hedge fund asset class have declined significantly. >more

Studies > Jobs | Opportunities

CMS Hasche Sigle

UPDATE ARBEITSRECHT MÄRZ 2020

In our digitalised world of work, cloud computing has become indispensable. Many companies are now increasingly investing in the digitization of their human resources departments, and are also relying on cloud-based applications in this area. In our focus article you can read what exactly is meant by an HR cloud, what advantages it offers and what needs to be considered from an employment law perspective when introducing it. >more

Studies > Macro

UBS

CORONAVIRUS: THE MARKET IMPACT

As the number of reported coronavirus cases outside of China continues to rise, so do broader investor concerns about the potential economic impact of the virus. The prevailing market narrative has shifted swiftly from the coronavirus being a predominantly China issue, to the coronavirus being a global problem that might result in recession. But the repricing of growth expectations and risk across asset classes due to the coronavirus has been far from uniform. >more


Research Papers > Corporate Governance

ESG PERFORMANCE AND DISCLOSURE: A CROSS-COUNTRY ANALYSIS

Florencio Lopez de Silanes, Joseph A. McCahery, and Paul C. Pudschedl
2019
We use a unique dataset to examine the link between ESG disclosure and quality through a cross-country comparison of disclosure requirements and stewardship codes. We find a strong relationship between the extent of ESG disclosure and the quality of a firm’s disclosure. Furthermore, we find that ESG is correlated with decreased risk. This result suggests that firms with good ESG scores are simply disclosing more information. Finally, we show that ESG scores have little or no impact on risk-adjusted financial performance. >more

Research Papers  > Alternative Investments

HOW DO BANKS INTERACT WITH FINTECH STARTUPS?

Lars Hornuf, Milan Klus, Todor Lohwasser, and Armin Schwienbacher
2020
The increasing pervasiveness of technology-driven firms that offer banking services has led to a growing pressure on traditional banks to modernize their core business activities. Many banks tackle the challenges of digitalization by cooperating with startup firms that offer technology-driven financial services (fintechs). In this paper, we examine which banks typically collaborate with fintechs, how intensely they do so, and which form of alliance they prefer. Using hand-collected data covering the largest banks from Canada, France, Germany, and the United Kingdom, we provide detailed evidence on the different forms of alliances occurring in practice. We show that banks are significantly more likely to form alliances with fintechs when they pursue a well-defined digital strategy and/or employ a chief digital officer. Moreover, in line with incomplete contract theory, we find that banks more frequently invest in small fintechs but often build product-related collaborations with larger fintechs. >more