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Sovereign Wealth Funds and Long-Term Investing / ed. by Frederic Samama, Patrick Bolton, Joseph E. Stiglitz.

Contributor(s): Material type: TextTextPublisher: New York, NY : Columbia University Press, [2011]Copyright date: ©2011Description: 1 online resource (288 p.) : ‹B›Figures: ‹/B›11Content type:
Media type:
Carrier type:
ISBN:
  • 9780231158633
  • 9780231530286
Subject(s): DDC classification:
  • 332.67252 23
LOC classification:
  • HJ3801 .S685 2012
  • HJ3801 .S685 2015
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- Contents -- Acknowledgments -- Sovereign Wealth Funds - Distinguishing Aspects and Opportunities -- The Contribution of Institutional Investors to Fostering Stability and Long-Term Growth -- Sovereign Wealth Funds as Stabilizers -- Financing Long-Term Investments After the Crisis: A View from Europe -- What Sovereign Wealth Funds Can Do to Alleviate Global Poverty -- The Sovereign Debt Problem -- Overview -- The Rationale for Sovereign Wealth Funds from a Development Perspective -- Sovereign Wealth Funds: Form and Function in the Twenty-first Century -- Introduction -- Stabilization Funds -- Tilt of Benchmarks -- Four Benchmarks of Sovereign Wealth Funds -- Which Financial Benchmarks and Other Incentives Work for Long-Term Investing? -- Further Considerations -- Panel Summary -- Panel Paper: The Four Benchmarks of Sovereign Wealth Funds -- Introduction -- Sovereign Wealth Funds as Catalysts of Socially Responsible Investing -- Objectives and Ethical Guidelines of Norges Bank Investment Management -- Building Emerging Countries' Financial Infrastructure by Investing in Microfinance -- Further Considerations -- Panel Summary -- Introduction -- How to Reward Long-Term Investors -- Sovereign Wealth Funds and the Shifting Wealth of Nations -- Compensation and Risk-Taking in the U.S. Financial Industry -- Building Long-Term Strategies for Investment of Sovereign Wealth -- Further Considerations -- Panel Summary -- Panel Paper: Capital Access Bonds - Securities Implementing Countercyclical Investment Strategies -- Panel Paper: L-Shares - Rewarding Long-Term Investors -- Introduction -- Influencing Clean Innovations -- The Emerging Role of State Investors in the Governance of Global Corporations -- The Rise of Carbon-Free Technology -- Smart Energy Globalization -- Further Considerations -- Panel Summary -- Introduction -- Macroeconomic Uncertainty and Managing Risk for Sovereign Wealth Funds -- Funds and Volatility -- Managing Uncertainty -- Key Issues -- Further Considerations -- Panel Summary -- Introduction -- Managing Commodity Price Volatility -- Chile and Copper -- Management of Commodity Price Risks on Sovereign Balance Sheets -- Further Considerations -- Panel Summary -- Panel Paper: Managing Commodity Risk - Can Sovereign Funds Help? -- Introduction -- Reconciling Sovereignty, Accountability, and Transparency in Sovereign Wealth Funds -- Restrictions on Cross-Border Investment -- The Value of Transparency -- Maximizing Autonomy in the Shadow of Great Powers -- Further Considerations -- Panel Summary -- Conclusion: Taking Stock - Analytical Challenges and Directions for Future Research -- Contributors -- About the Conference Organizers -- Introduction
Summary: Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume examines the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on essays delivered in 2011 at a major conference on SWFs held at Columbia University, this volume discusses the objectives and performance of SWFs, as well as their benchmarks and governance. What are the opportunities for SWFs as long-term investments? How do they fulfill their socially responsible mission? And what role can SWFs play in fostering sustainable development and greater global financial stability? These are some of the crucial questions addressed in this one-of-a-kind volume.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9780231530286

Frontmatter -- Contents -- Acknowledgments -- Sovereign Wealth Funds - Distinguishing Aspects and Opportunities -- The Contribution of Institutional Investors to Fostering Stability and Long-Term Growth -- Sovereign Wealth Funds as Stabilizers -- Financing Long-Term Investments After the Crisis: A View from Europe -- What Sovereign Wealth Funds Can Do to Alleviate Global Poverty -- The Sovereign Debt Problem -- Overview -- The Rationale for Sovereign Wealth Funds from a Development Perspective -- Sovereign Wealth Funds: Form and Function in the Twenty-first Century -- Introduction -- Stabilization Funds -- Tilt of Benchmarks -- Four Benchmarks of Sovereign Wealth Funds -- Which Financial Benchmarks and Other Incentives Work for Long-Term Investing? -- Further Considerations -- Panel Summary -- Panel Paper: The Four Benchmarks of Sovereign Wealth Funds -- Introduction -- Sovereign Wealth Funds as Catalysts of Socially Responsible Investing -- Objectives and Ethical Guidelines of Norges Bank Investment Management -- Building Emerging Countries' Financial Infrastructure by Investing in Microfinance -- Further Considerations -- Panel Summary -- Introduction -- How to Reward Long-Term Investors -- Sovereign Wealth Funds and the Shifting Wealth of Nations -- Compensation and Risk-Taking in the U.S. Financial Industry -- Building Long-Term Strategies for Investment of Sovereign Wealth -- Further Considerations -- Panel Summary -- Panel Paper: Capital Access Bonds - Securities Implementing Countercyclical Investment Strategies -- Panel Paper: L-Shares - Rewarding Long-Term Investors -- Introduction -- Influencing Clean Innovations -- The Emerging Role of State Investors in the Governance of Global Corporations -- The Rise of Carbon-Free Technology -- Smart Energy Globalization -- Further Considerations -- Panel Summary -- Introduction -- Macroeconomic Uncertainty and Managing Risk for Sovereign Wealth Funds -- Funds and Volatility -- Managing Uncertainty -- Key Issues -- Further Considerations -- Panel Summary -- Introduction -- Managing Commodity Price Volatility -- Chile and Copper -- Management of Commodity Price Risks on Sovereign Balance Sheets -- Further Considerations -- Panel Summary -- Panel Paper: Managing Commodity Risk - Can Sovereign Funds Help? -- Introduction -- Reconciling Sovereignty, Accountability, and Transparency in Sovereign Wealth Funds -- Restrictions on Cross-Border Investment -- The Value of Transparency -- Maximizing Autonomy in the Shadow of Great Powers -- Further Considerations -- Panel Summary -- Conclusion: Taking Stock - Analytical Challenges and Directions for Future Research -- Contributors -- About the Conference Organizers -- Introduction

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume examines the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on essays delivered in 2011 at a major conference on SWFs held at Columbia University, this volume discusses the objectives and performance of SWFs, as well as their benchmarks and governance. What are the opportunities for SWFs as long-term investments? How do they fulfill their socially responsible mission? And what role can SWFs play in fostering sustainable development and greater global financial stability? These are some of the crucial questions addressed in this one-of-a-kind volume.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)