Amzad Hossain

Venture Capital Firms’ Specialization, Differences and Complementarities

The paper analyses the differences in venture capital (VC) firms, proposes a classification of the firms and empirically investigates their investment and co-investment behaviour. The VC firms are not homogeneous and beside funds they possess a diverse set of nonfinancial resources which they optimize. A classification is developed based on VC firm resources and specialization represented by organizational form and affiliation. Based on Australian market data, we classify the VC firms in three categories, namely strategic, financial and independent using resource based theory, and highlight differences. Then the firms’ specialization is related to their portfolio characteristics to identify and analyse differences and complementarities in terms of investment strategies. The influence of specialization in investment and co-investment strategies is also analysed. This study shows that specialization influences investment decisions and co-investor selection. Implications of such investment practices on resource efficiency, financial viability and transition to sustainability are also discussed.

Socially Responsible Investment: A Review of Recent Developments in Australia

Growing awareness about sustainability among consumers and investors is rapidly changing the investment management practices in Australia. Until 2000, the size of fund under management in socially responsible investment (SRI) portfolios was less than

Renewable Energy: Addressing Environmental Issues in Bangladesh

1 billion which by the end of 2012 totaled as

Assessing tools for sustainability: Bangladesh context

152 billion. About 80% of the top fund managers by now has been the signatories of the UNPRI bringing responsible investment issues to the mainstream. The growth of sustainable and responsible investment has been driven by both public and private sector. ASX has revised the corporate governance code 7.4 (March 2014) to assure that listed companies provide due attention to environmental, social and governance (ESG) issues. Private investors (retail and institutional) are also diverting more funds to sustainability focused portfolios. The combined public and private initiatives have been quickly unfolding a new reality for the fund industry. However, there are significant differences in terms of approaches to sustainable investments It is often difficult to compare among different segments of responsible investment market as well their impacts on environment and society. This paper analyse the key trends in responsible investments in Australia and critically evaluate the challenges and opportunities ahead.

Climate Change Rhetoric in Bangladesh: A Curse or a Blessing?

Undesirable synergies are being witnessed in Bangladesh between disrupted environmental norms, an increasing demand for energy and widening poverty. The country has experienced natural mishaps throughout its history, but not as frequently as they are happening currently. The trend of untimely appearance of floods, droughts and cyclones is now common and it affects harvests and normal living. Other environmental problems such as desertification, rapid loss of biodiversity, silting of rivers, rising temperature, salinisation, arsenical contamination of potable water and destabilisation of mangrove forests, all are emerging phenomena requiring mitigation measures. All these phenomena affect harvest and economic safety, they beget poverty which in turn predisposes the poor to have more children for security. This in tum puts pressures on the countrys resource base in terms of exploitation beyond its natural regeneration capacity. In addition, traditional and modem systems of using primary energy source have also contributed to environmental degradation and climate change (Hossain, 200 1 :210). The rising need for energy sources, coupled with population growth and economic development, continues to push the unsustainable exploitation of the countrys limited natural resources. There is a need for a different approach to combat this trend and the paper argues for the endorsement of renewable energy as an optimal solution. In addition to the environmental benefits, these types of technologies offer the benefits of being relatively small-scale with the potential to be home based which fits well within the village culture of the country (Hossain and Marinova, 2003).