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NEWSLETTER of September 18, 2020


The following content has been added at finexpert:


Studies > Performance

Strategy&
COST AND GROWTH IN ASSET MANAGEMENT
Although asset management continues to boom in a low interest rate environment, the profitability of asset management firms is coming under increasing pressure. In a recent benchmarking analysis, we examined current trends and developments in asset management and its implications for German and Swiss asset managers. >more

Studies > Performance

World Economic Forum
FORGING NEW PATHWAYS: THE NEXT EVOLUTION OF INNOVATION IN FINANCIAL SERVICES
Emerging technologies such as AI, 5G, DLT, and quantum are increasingly being used by financial services firms and are forming clusters that are driving innovation throughout the sector. These advances can offer new services and savings to both customers and financial institutions. While financial executives largely recognize the promise of emerging technologies, many financial services firms are still struggling to develop comprehensive innovation strategies given the sheer number of technologies maturing in the industry. >more

Studies > Alternative Investments

EY
FÜNF JAHRE DIGITALISIERUNG IN DER IMMOBILIENWIRTSCHAFT
One in four companies in the real estate industry (27 percent) now invests more than five percent of its annual turnover in the digital transformation. A comparison over time in particular shows that digitalization investments have become a fixed, significant factor in the real estate industry. >more

Studies > Alternative Investments

Baker & McKenzie
TOP TEN TIPS FOR ESG DEBT FINANCINGS
Navigating the challenges and opportunities presented by the rapidly - growing and evolving financial markets for environmental, social and governance ('ESG') - related bonds and loans can be a daunting undertaking. In this issue of In the Know, Baker McKenzie lawyers share their experiences and insights. >more


Research Papers > Corporate Finance

FINTECHS AND THE MARKET FOR FINANCIAL ANALYSIS
Jillian Grennan, and Roni Michaely
2020
Hundreds of equity market intelligence FinTechs have formed in the last decade. We assemble novel data to describe their capabilities, users, and consequences. Our data suggest that these FinTechs: (i) aggregate many data sources, including nontraditional ones (e.g., Twitter, blogs), and synthesize such data using artificial intelligence to make investment recommendations, and (ii) change internet users information discovery by serving as substitutes for traditional information providers. We evaluate some nontraditional data and find evidence suggesting that it contains valuable information or ``crowd wisdom'' that links to informational efficiency. Overall, our findings are consistent with this innovation benefiting investors and markets. >more

Research Papers > Alternative Investments

VENTURE CAPITALISTS AND COVID-19
Paul A. Gompers, Will Gornall, Steven N. Kaplan, and Ilya A. Strebulaev
2020
We survey over 1,000 institutional and corporate venture capitalists (VCs) at more than 900 different firms to learn how their decisions and investments have been affected by the COVID-19 pandemic. We compare their survey answers to those provided by a large sample of VCs in early 2016 and analyzed in Gompers, Gornall, Kaplan, and Strebulaev (2020). VCs have slowed their investment pace (71% of normal) and expect to invest at 81% of their normal pace over the coming year. Not surprisingly, they have devoted more time to guiding the portfolio companies through the pandemic. VCs report that 52% of their portfolio companies are positively affected or unaffected by the pandemic; 38% are negatively affected; and 10% are severely negatively affected. Overall, they expect the pandemic to have a small negative effect on their fund IRRs (-1.6%) and MOICs (-0.07). Surprisingly, we find little change in the allocation of their time to helping portfolio companies relative to looking for new investments. In general, we find only modest differences between institutional and corporate VCs. >more

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