scholarly journals Luxembourg and Ireland in global financial networks: Analysing the changing structure of European investment funds

Author(s):  
Dariusz Wójcik ◽  
Michael Urban ◽  
Sabine Dörry
Ekonomika ◽  
2004 ◽  
Vol 66 ◽  
Author(s):  
Leonas Simanauskas ◽  
Irena Kucko

The research object of the present work is one of the elements of the financial system, the so-called alternative investment instrument - investment fund. The concept of investment fund is used here in the sense of publicly offered open-ended funds invested in transferable securities and money market funds, which refers to “mutual fund” in the US and UCITS’ in FEFSI’s2 statistics on the European investment funds industry. In Lithuania, the equivalent of investment fund is a variable capital investment company.Under the conditions produced by globalization when the spectrum of services and financial instruments is widening dramatically, competition between financial institutions is growing and mergers appear, the development of a financial system and its sensitivity to changes in global finance is an actual problem for Lithuania; as the financial system develops, the level of living and the average gross monthly earnings increase, the need for investing arises. The trends of the Lithuanian investment fund industry are analysed in relation to the European experience, that’s why the history and factors of development allocation of assets between different fund types of the European investment fund industry are examined.The purpose of this article is to examine the origin and rapid development of investment funds and to analyse trends of investment funds industry development.The methods used: analysis and generalization of scientific works and statistical data.


2005 ◽  
Vol 5 (6) ◽  
pp. 988-998 ◽  
Author(s):  
Luis Ferruz ◽  
Isabel Marco . ◽  
Jose Luis Sarto .

2012 ◽  
Vol 3 (1) ◽  
pp. 73-88
Author(s):  
Marek Popielas

This paper aims to present the level of harmonization of investment services in relation to the European investment funds’ market. The author, in an attempt to systematize different types of investment services in Europe, refers to the European Freedoms and presents the key reasons for the harmonization of investment services. An important part of the study is to present the role of investment funds in the financial sector, as well as the crucial benefits of participation in the funds. By using the method of analysis of the sources, the author makes a review of the European regulations on investment funds, both the law and the recommendations of regulators. From the perspective of recent legislation changes the study highlights their possible implications, especially for less developed countries of the European Union. Complementing the current picture of harmonization the author, by referring to the substantial transformation of the common market of the European Union in 2004, makes review of dynamics of this sector, based on basic statistics. What is worth paying attention in this context is that there is still a slight share of the newly acceding countries. Verification of accuracy of the author’s observations may become the subject of wider discussion on the harmonization of financial services in this area, taking into account time necessary to assess the impact of European regulations currently being implemented.


Subject Investment financing and behaviour. Significance In the aftermath of the global financial crisis, companies used the bond market as a substitute for bank financing as banks' lending standards tightened. Banks now finance less investment; insurance companies and pension funds finance more. This leaves countries less reliant on banking but also transfers the risks to other financial institutions. Research into the German market shows that insurance firms and pension funds invest countercyclically, selling when prices rise, but that banks and investment funds are procyclical investors, amplifying price dynamics. Impacts Micro-prudential regulation such as rules inducing investors to sell downgraded assets can prompt procyclical behaviour. Time-varying capital buffers that move with economic conditions can curb procyclical investment, limiting institutions more in good times. Regulators need to consider the interactions between institutions within and across sectors, and between solvency and stability.


2021 ◽  
Vol 19 (1) ◽  
pp. 290-304
Author(s):  
Mariana Sueldo

This research paper discusses the degree of institutionalization of communication as a strategic managerial function to explore the different scopes and status achieved across countries and organizational sectors. Empirical work was conducted in Lithuania, Spain and Argentina, chosen as pioneers and regional leaders towards institutionalization through the establishment of the first university-level communication studies, national and worldwide networks of communication researchers and practitioners. Purposeful convenience sampling also ensured data collection through 61 semi-structured interviews with communication experts, senior managers and scholars from these countries, and a pilot survey with 20 Lithuanian communication specialists. The results suggest that CEOs in Argentina (70.6%) and Spain (65%) are more aware of the communication value, 60% communication specialists hold executive/senior positions. All this is 10-15% lower in post-communist countries. For 90% Lithuanian respondents, the CEO’s full understanding of communication is the number 1 factor affecting the institutionalization of communication, followed by the evolution of their profession in the country, which influences the perception of the communication function. Strengthening their role and status is the 4th priority for communication professionals in Europe and Argentina. This requires further education to fill a widening gap of data competencies and management skills, expressed by 69% of Spanish communicators, 75-87% in the former communist bloc, and 45% of seasoned Argentinean communicators. The empowerment of communication specialists remains highly dependent on the communicative competence and willingness of CEOs, who also need ad hoc executive education, which is more widely available in Spain and Argentina than in Lithuania. AcknowledgmentThis paper was written under the Lithuanian Research Council and European Investment Funds grant No. 09.3.3-LMT-K-712, as part of the post-doctoral research project “Towards an assessment model for mission-based strategic communication excellence”.


2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.


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