Infrastructure funds their role in financing infrastructure investments
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2012
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| Schlagworte: | |
| Online-Zugang: | kostenfrei https://nbn-resolving.org/urn:nbn:de:bvb:91-diss-20120717-1100306-1-9 Inhaltsverzeichnis |
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| 035 | |a (DE-599)BVBBV040360908 | ||
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| 100 | 1 | |a Bitsch, Florian |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Infrastructure funds |b their role in financing infrastructure investments |c Florian Alexander Bitsch |
| 264 | 1 | |c 2012 | |
| 300 | |a X, 196 Bl. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
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| 502 | |a München, Techn. Univ., Diss., 2012 | ||
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| 856 | 4 | |u https://nbn-resolving.org/urn:nbn:de:bvb:91-diss-20120717-1100306-1-9 |x Resolving-System | |
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Datensatz im Suchindex
| DE-BY-TUM_call_number | 0001 DM 30691 |
|---|---|
| DE-BY-TUM_katkey | 1870100 |
| DE-BY-TUM_location | Mag |
| DE-BY-TUM_media_number | 040009164092 |
| _version_ | 1820896982050275328 |
| adam_text | IMAGE 1
CONTENTS
1 INTRODUCTION AND RESEARCH OBJECTIVE 1
1.1 BACKGROUND ON INFRASTRUCTURE 2
1.2 RESEARCH CONTRIBUTION 5
1.3 STRUCTURE 7
2 WHAT IS INFRASTRUCTURE? 10
2.1 DEFINITIONS IN EXISTING LITERATURE 12
2.1.1 INTERNATIONAL ORGANIZATIONS 14
2.1.2 DISCIPLINARY APPROACHES 15
2.2 UNDERLYING DEFINITION 20
2.2.1 NETWORK STRUCTURES 23
2.2.2 ECONOMIC CHARACTERISTICS 29
3 WHY STUDY INVESTMENTS IN INFRASTRUCTURE? 36
3.1 MICROECONOMIC RATIONALE 36
3.2 MACROECONOMIC IMPACT 38
3.3 THE INFRASTRUCTURE INVESTMENT GAP 40
4 INFRASTRUCTURE FOR PRIVATE INVESTORS 44
4.1 PUBLIC VERSUS PRIVATE FINANCING 45
4.2 FORMS OF INVESTING 47
N
HTTP://D-NB.INFO/1034264745
IMAGE 2
4.2.1 DIRECT INVESTMENTS 47
4.2.2 INDIRECT INVESTMENTS AND INFRASTRUCTURE FUNDS 49
4.3 RELATED PARTIES 51
4.4 TYPE OF PARTICIPATION 54
4.4.1 STAGE OF INVESTMENT 54
4.4.2 LEGAL TYPE 56
4.4.3 TYPE OF CAPITAL 58
4.5 INVESTMENT CHARACTERISTICS 59
4.5.1 ASSET CHARACTERISTICS 61
4.5.2 RISK-RETURN PROFILE 62
4.5.3 PERFORMANCE DRIVERS 64
4.5.4 OTHER DRIVERS 65
4.6 EMPIRICAL LITERATURE 66
5 UNLISTED INFRASTRUCTURE FUNDS 73
5.1 DATA DESCRIPTION 75
5.1.1 DATA SOURCE 75
5.1.2 SAMPLE SELECTION 76
5.1.3 VARIABLES 77
5.1.4 DESCRIPTIVE STATISTICS 79
5.2 EMPIRICAL RESULTS 81
5.2.1 ASSET CHARACTERISTICS 82
5.2.2 RISK-RETURN PROFILE 83
5.2.3 PERFORMANCE DRIVERS 102
5.2.4 OTHER PERFORMANCE DRIVERS 105
5.3 SUMMARY 110
6 LISTED INFRASTRUCTURE FUNDS 113
M
IMAGE 3
6.1 INFRASTRUCTURE AND CASH FLOW VOLATILITY 114
6.2 DATA DESCRIPTION 116
6.2.1 SAMPLE COMPOSITION 116
6.2.2 VARIABLES AND DESCRIPTIVE STATISTICS 120
6.3 HOW DO INVESTORS VALUE CASH FLOW VOLATILITY? 127
6.3.1 MULTIVARIATE REGRESSIONS 127
6.3.2 ROBUSTNESS CHECKS 135
6.4 FURTHER RESULTS 139
6.5 ASSET RISK AND RETURN CHARACTERISTICS 140
6.6 SUMMARY 143
7 INVESTING I N INFRASTRUCTURE FUNDS - INCENTIVES AND CONSTRAINTS 145
7.1 EXTERNAL MANAGEMENT 146
7.1.1 FEE STRUCTURES 146
7.1.2 CONFLICT OF INTERESTS 152
7.1.3 FURTHER ASPECTS 155
7.1.4 INTERNAL VERSUS EXTERNAL MANAGEMENT 157
7.2 DIRECT INVESTMENTS AND PENSION FUNDS 160
7.3 INFRASTRUCTURE AND REGULATORY RISKS 162
8 CONCLUSION 167
8.1 MAIN RESULTS 167
8.1.1 ROLE OF INFRASTRUCTURE 168
8.1.2 PRIVATE INVESTMENTS IN INFRASTRUCTURE 169
F
8.2 LIMITATIONS AND SCOPE FOR FURTHER RESEARCH 172
A APPENDIX 174
B BIBLIOGRAPHY 180
IV
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| spellingShingle | Bitsch, Florian Infrastructure funds their role in financing infrastructure investments Fonds (DE-588)4202351-8 gnd Infrastrukturinvestition (DE-588)4127451-9 gnd |
| subject_GND | (DE-588)4202351-8 (DE-588)4127451-9 (DE-588)4113937-9 |
| title | Infrastructure funds their role in financing infrastructure investments |
| title_auth | Infrastructure funds their role in financing infrastructure investments |
| title_exact_search | Infrastructure funds their role in financing infrastructure investments |
| title_full | Infrastructure funds their role in financing infrastructure investments Florian Alexander Bitsch |
| title_fullStr | Infrastructure funds their role in financing infrastructure investments Florian Alexander Bitsch |
| title_full_unstemmed | Infrastructure funds their role in financing infrastructure investments Florian Alexander Bitsch |
| title_short | Infrastructure funds |
| title_sort | infrastructure funds their role in financing infrastructure investments |
| title_sub | their role in financing infrastructure investments |
| topic | Fonds (DE-588)4202351-8 gnd Infrastrukturinvestition (DE-588)4127451-9 gnd |
| topic_facet | Fonds Infrastrukturinvestition Hochschulschrift |
| url | http://mediatum.ub.tum.de/node?id=1100306 https://nbn-resolving.org/urn:nbn:de:bvb:91-diss-20120717-1100306-1-9 http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025214754&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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