Abstract The distribution of ownership transition risk associated with stranded fossil-fuel assets remains poorly understood. We calculate that global as present value future lost profits in the upstream oil and gas sector exceed US$1 trillion under plausible changes expectations about effects climate policy. trace equity from 43,439 production through a network 1.8 million companies to their u...

The aim of this paper is to estimate the overall performance of mutual funds in Croatia in terms of their relative efficiency based on several performance indicators using data envelopment analysis (DEA). DEA is a non-parametric method that can provide an overall relative efficiency score of a certain fund given a number of risk, cost or reward or profitability measures. Since traditional mutua...

Steven Cohen, MD Consultant with Allergan; Consultant with Galderma; investigator, FDA study with Cytori; Speaker with Cytori; Consultant with Cytori; Advisor with Cytori; Shareholder (excluding diversified mutual funds) with Cytori; Research Support Recipient from Cytori; Speaker with Tulip; Consultant with Tulip; none with Tulip; Consultant with Suneva; Research Support Recipient from Suneva;...

* The authors thank Russ Wermers for conversations related to performance persistence. The authors will not enter into any correspondence with members of the public concerning this report.

Using a comprehensive dataset of mutual funds’ quarterly holdings of credit default swap (CDS) contracts during 2007-2011, we analyze the motives for and consequences of mutual funds’ participation in the CDS market preand post-financial crisis. Consistent with theoretical work, funds resort to CDS (especially selling) when they face unpredictable liquidity needs and when the CDS securities are...