Rapporter
Halvårsrapporter og analyser fra Varde Research. Hver rapport kan leses her og lastes ned som PDF.
Analyser
Climate change as a global challenge: four theoretical perspectives
Why does climate change persist as a governance problem despite three decades of international commitments? The essay applies institutional, normative, mobilization and decolonial theory to the climate regime, compares what each explains and misses, and proposes a synthesis.
Erlend B. Moe
More market, less control: an analysis of excess returns and agency loss if the norwegian oil fund invests in private equity
Should the Norwegian Oil Fund invest in private equity funds? Combining an extended CAPM-model with principal-agent theory, the thesis finds that the fund's long horizon and bargaining power leave only a marginal real excess return of about 0.65 percentage points. Against this stand structural costs of lost transparency and control, especially reputational risk and the inability to divest from locked-up capital, which make the case for expanding the investment universe insufficient.
Viktor Bratberg