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NEWSLETTER of December 27, 2019

 

The following content has been added at finexpert:


Studies > Performance

Oliver Wyman

WOMEN IN FINANCIAL SERVICES 2020

The third edition of the Women in Financial Services study shows that one area has a lot of untapped potential: Women as customers. A better understanding and better communication with female customers could bring financial services providers annual revenue growth of more than $700 billion worldwide. It is not enough to consider women as a single customer segment. Rather, the particularities of women's lives and their needs should be carefully considered. Thus, female customer profiles differ on average from male ones, among other things in terms of income development or risk preference. >more

Studies > Performance

Duff & Phelps

ARE FOOTBALL STADIUM NAMING RIGHTS UNDERVALUED? A EUROPEAN ANALYSIS

Despite the Premier League’s status as football’s most popular league, many of football’s powerhouses are outside the United Kingdom, such as Barcelona, Bayern Munich, Juventus, PSG and Real Madrid. This analysis examined the potential value of stadium naming rights across Europe. >more

Studies > Performance

Houlihan Lokey

OPTIMISING RISK-ADJUSTED RETURNS FROM INVESTING IN EUROPEAN BANKS

European pension funds and insurance investors are increasingly challenged by negative rates with scarcity of low-risk investment opportunities offering long-term stable return. We think a clear investment opportunity exists at each European member country level as part of an industry-wide upgrade of the IT infrastructure and branches of European banks. Such an upgrade can even be kick-started initially and customised at individual bank level. >more

Studies > Corporate Finance

A.T. Kearney

DIE KRISENSIGNALE NEHMEN ZU: AT KEARNEY RESTRUCTURING SCORE

The European economy is currently predominantly in a downturn or showing declining tendencies. Regions, industries and companies are affected to varying degrees. A detailed analysis of the corporate landscape shows how strongly the overall economic situation has already reached companies and influences their financial performance. A.T. Kearney regularly analyses corporate performance on the basis of defined criteria in order to identify their financial fitness. The result is recorded in the "A.T. Kearney Restructuring Score". >more

Studies > Risk Management

Lazard

A SUSTAINABILITY FRAMEWORK: SOCIETAL SHIFTS AS INVESTMENT RISKS

Successful long-term investing depends upon the identification of sustainable companies. We believe traditional investment analysis tends to underestimate the risks faced by companies today and, specifically, to risk assessment. In particular, we see rising risks to sustainability from the potential breakdown of relationships between industries and companies with society. Each company and industry operates under a "societal license” that, if damaged or revoked, can ultimately impact the bottom line. >more


Research Papers > Corporate Governance

CEO NETWORKS AND THE LABOR MARKET FOR DIRECTORS

Rüdiger Fahlenbrach, Hyemin Kim, and Angie Low
2019
Directors are more likely to obtain additional directorships, especially at prestigious firms, if the CEOs of their current boards are well-connected. Recommended directors do not become beholden to the CEO, as CEO compensation is unaffected and an analysis of appointment announcement returns and director election results show that shareholders are unconcerned by such recommendations. Instead, reciprocity is an important determinant because CEOs are more likely to recommend their directors if they recently received help from their network filling vacant board positions. Overall, there is little evidence that network recommendations of directors lead to inefficiencies in the director labor market. >more

Research Papers  > Alternative Investments

INSTITUTIONAL INVESTORS’ VIEWS AND PREFERENCES ON CLIMATE RISK DISCLOSURE

Emirhan Ilhan, Philipp Krueger, Zacharias Sautner, and Laura T. Starks
2019
We survey institutional investors on firms’ climate risk disclosures. Many investors believe climate risk reporting to be as important as traditional financial reporting and that it should be mandatory and more standardized. However, they also view current quantitative and qualitative disclosure on climate risks as being insufficient and imprecise. The belief that current climate-related disclosure is deficient derives more from investors that believe climate risks are underpriced in equity markets. We complement the survey analysis with archival data showing that greater institutional ownership is associated with a higher propensity of firms to voluntarily disclose their carbon emissions. >more