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Record Nr. |
UNINA9910781448003321 |
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Titolo |
Sovereign wealth funds and long-term investing [[electronic resource] /] / edited by Joseph E. Stiglitz, Patrick Bolton, and Frederic Samama |
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Pubbl/distr/stampa |
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New York, : Columbia University Press, 2011 |
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ISBN |
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1-281-60630-8 |
9786613787002 |
0-231-53028-5 |
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Descrizione fisica |
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1 online resource (253 p.) |
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Classificazione |
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Altri autori (Persone) |
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StiglitzJoseph E |
BoltonPatrick <1957-> |
SamamaFrederic |
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Disciplina |
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Soggetti |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Frontmatter -- Contents -- Acknowledgments -- Introduction / Bolton, Patrick / Samama, Frederic / Stiglitz, Joseph E. -- 1 Keynote Addresses -- Sovereign Wealth Funds - Distinguishing Aspects and Opportunities / Stiglitz, Joseph E. -- The Contribution of Institutional Investors to Fostering Stability and Long-Term Growth / Romanet, Augustin de -- Sovereign Wealth Funds as Stabilizers / Velasco, Andrés -- Financing Long-Term Investments After the Crisis: A View from Europe / Bassanini, Franco -- What Sovereign Wealth Funds Can Do to Alleviate Global Poverty / Wolfensohn, James -- The Sovereign Debt Problem / Soros, George -- 2 The State of Sovereign Wealth Funds -- Overview -- The Rationale for Sovereign Wealth Funds from a Development Perspective / Griffith-Jones, Stephany / Ocampo, José Antonio -- Sovereign Wealth Funds: Form and Function in the Twenty-first Century / Clark, Gordon L. / Monk, Ashby H. B. -- 3 Benchmarking and Performance Standards -- Introduction / Chiappori, Pierre-André -- Stabilization Funds / Parrado, Eric -- Tilt of Benchmarks / Litterman, Bob -- Four Benchmarks of Sovereign Wealth Funds / Ang, Andrew -- Which Financial Benchmarks and Other Incentives Work for Long-Term Investing? / Spiegel, Shari -- Further Considerations -- Panel Summary |
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-- Panel Paper: The Four Benchmarks of Sovereign Wealth Funds / Ang, Andrew -- 4 Fostering Development Through Socially Responsible Investment -- Introduction / Griffith-Jones, Stephany -- Sovereign Wealth Funds as Catalysts of Socially Responsible Investing / Landier, Augustin -- Objectives and Ethical Guidelines of Norges Bank Investment Management / Dyrdal, Dag -- Building Emerging Countries' Financial Infrastructure by Investing in Microfinance / Ventura, Arnaud -- Further Considerations -- Panel Summary -- 5 Expanding Investment Horizons: Opportunities for Long-Term Investors -- Introduction / Bolton, Patrick -- How to Reward Long-Term Investors / Samama, Frederic -- Sovereign Wealth Funds and the Shifting Wealth of Nations / Santiso, Javier -- Compensation and Risk-Taking in the U.S. Financial Industry / Scheinkman, José -- Building Long-Term Strategies for Investment of Sovereign Wealth / Skancke, Martin -- Further Considerations -- Panel Summary -- Panel Paper: Capital Access Bonds - Securities Implementing Countercyclical Investment Strategies / Bolton, Patrick / Samama, Frederic -- Panel Paper: L-Shares - Rewarding Long-Term Investors / Bolton, Patrick / Samama, Frederic -- 6 Reducing Climate Risk -- Introduction / Goldmark, Peter -- Influencing Clean Innovations / Aghion, Philippe -- The Emerging Role of State Investors in the Governance of Global Corporations / Dickinson, Paul -- The Rise of Carbon-Free Technology / Guesnerie, Roger -- Smart Energy Globalization / Jhirad, David -- Further Considerations -- Panel Summary -- 7 Managing Risk During Macroeconomic Uncertainty -- Introduction / Stiglitz, Joseph E. -- Macroeconomic Uncertainty and Managing Risk for Sovereign Wealth Funds / Fratzscher, Oliver -- Funds and Volatility / Velasco, Andrés -- Managing Uncertainty / Johnson, Rob -- Key Issues / Zhu, Min -- Further Considerations -- Panel Summary -- 8 Managing Commodity Price Volatility -- Introduction / Heal, Geoffrey -- Managing Commodity Price Volatility / Brière, Marie -- Chile and Copper / Briones, Ignacio -- Management of Commodity Price Risks on Sovereign Balance Sheets / Pihlman, Jukka -- Further Considerations -- Panel Summary -- Panel Paper: Managing Commodity Risk - Can Sovereign Funds Help? / Brière, Marie -- 9 Sovereign Wealth Funds and World Governance -- Introduction / Sassen, Saskia -- Reconciling Sovereignty, Accountability, and Transparency in Sovereign Wealth Funds / Gelpern, Anna -- Restrictions on Cross-Border Investment / Greene, Edward -- The Value of Transparency / Orr, Adrian -- Maximizing Autonomy in the Shadow of Great Powers / Pistor, Katharina -- Further Considerations -- Panel Summary -- Contributors -- About the Conference Organizers |
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Sommario/riassunto |
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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 |
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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. |
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2. |
Record Nr. |
UNINA9910144179903321 |
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Titolo |
Financial Cryptography : 8th International Conference, FC 2004, Key West, FL, USA, February 9-12, 2004. Revised Papers / / edited by Ari Juels |
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Pubbl/distr/stampa |
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Berlin, Heidelberg : , : Springer Berlin Heidelberg : , : Imprint : Springer, , 2004 |
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ISBN |
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Edizione |
[1st ed. 2004.] |
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Descrizione fisica |
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1 online resource (XI, 286 p.) |
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Collana |
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Lecture Notes in Computer Science, , 1611-3349 ; ; 3110 |
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Disciplina |
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Soggetti |
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Finance |
Cryptography |
Data encryption (Computer science) |
Operating systems (Computers) |
Electronic data processing - Management |
Computers and civilization |
Computer networks |
Financial Economics |
Cryptology |
Operating Systems |
IT Operations |
Computers and Society |
Computer Communication Networks |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Bibliographic Level Mode of Issuance: Monograph |
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Nota di bibliografia |
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Includes bibliographical references and index. |
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Nota di contenuto |
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Invited Talks -- Analyzing the Success and Failure of Recent e-Payment Schemes -- Peppercoin Micropayments -- Loyalty and Micropayment |
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Systems -- Microcredits for Verifiable Foreign Service Provider Metering -- A Privacy-Friendly Loyalty System Based on Discrete Logarithms over Elliptic Curves -- User Authentication -- Addressing Online Dictionary Attacks with Login Histories and Humans-in-the-Loop -- Call Center Customer Verification by Query-Directed Passwords -- Invited Talks -- Cryptography and the French Banking Cards: Past, Present, Future -- PayPass Security and Risk -- e-Voting -- The Vector-Ballot e-Voting Approach -- Efficient Maximal Privacy in Boardroom Voting and Anonymous Broadcast -- Panel Session: Building Usable Security Systems -- Usability and Acceptability of Biometric Security Systems -- Mental Models of Computer Security -- Visualization Tools for Security Administrators -- Secure Interaction Design -- Invited Talk -- Bringing Payment Technology to the Unbanked -- Auctions and Lotteries -- Interleaving Cryptography and Mechanism Design -- Secure Generalized Vickrey Auction without Third-party Servers -- Electronic National Lotteries -- Identity-Based Chameleon Hash and Applications -- Game Theoretic and Cryptographic Tools -- Selecting Correlated Random Actions -- An Efficient and Usable Multi-show Non-transferable Anonymous Credential System -- The Ephemeral Pairing Problem -- Mix Networks and Anonymous Communications -- Mixminion: Strong Anonymity for Financial Cryptography -- Practical Anonymity for the Masses with MorphMix -- Timing Attacks in Low-Latency Mix Systems -- Provable Unlinkability against Traffic Analysis. |
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Sommario/riassunto |
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The 8th Annual Financial Cryptography Conference was held during 9–12 February 2004 in Key West, Florida, USA. The conference was organized by the - international Financial Cryptography Association (IFCA). The program committee, which comprised 25 members, reviewed 78 submissions, of which only 17 were accepted for presentation at the conference. This year’s conference differed somewhat from those of previous years in its consideration of papers devoted to implementation, rather than purely conceptual research; one of these submissions was presented at the conference. This represented a movement in the conference toward practical problems and real-world perspectives as a complement to more traditional academic forms of research. In this spirit, the program included a number of excellent invited speakers. In the opening talk of the conference, Jack Selby threw down the gauntlet, - scribing some of the achievements of the PayPal system, but also enumerating reasons for the failures of many elegant e-cash schemes in the past. Ron Rivest, in contrast, described an emerging success in the cleverly conceived Peppercoin micropayment system. Jacques Stern enlightened us with his experience in the cryptographic design of banking cards in France. Simon Pugh unveiled some - tails of anew generation of wireless credit card. Finally,in deference to the many consumers in the world lacking either techno-savvy or technological resources that we often too easily take for granted, Jon Peha described a elded banking system that avoids reliance on conventional financial infrastructures. Thanks to all of these speakers for rounding out the conference with their expertise and breadth of vision. |
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