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Studies and Reports  Search fund model takes root in Europe and Latin America

Kolarova, Lenka; Dávila, Antonio; Johnson, Rob; Kelly, Peter In 2017, there was a new peak of search-fund activity outside of the U.S. and Canada, with the founding of 21 new funds. Recent growth is especially robust in Continental Europe and Latin America, according to a 2018 biennial study of this investment vehicle. Read article

Books  A Basic Ingredient for Finance to Avoid a New Crisis

Argandoña, Antonio A decade after Lehman Brothers' collapse and the global financial crisis, Antonio Argandoña insists that ethics is the fundamental requirement to restore our sense of security and confidence in the financial system that was cracked by the last crisis. Read article

Research Papers  Backdoor Bailouts: Banks Exploiting Other Banks' Government Guarantees

Eisert, Tim; Eufinger, Christian Do banks take advantage of the assumption that they may be deemed "too big to fail" or "too interconnected to fail"? Yes, says research by Christian Eufinger. What's more, this assumption adds systemic risk, as increasingly interconnected banks have learned to exploit "backdoor bailouts." Read article