Results 31 to 40 of about 622 (151)
Measuring Thematic Funds Performance via an Approach Based on Observable and Latent Factors
European Financial Management, EarlyView.ABSTRACT This paper investigates whether thematic equity funds deliver abnormal performance relative to conventional global equity funds. Using Fama‐French models augmented with latent factors, we estimate fund‐level alphas, and apply the false discovery rate methodology to an estimated three‐group mixture distribution, separating good, null and bad ...
Maria Debora Braga +2 more
wiley +1 more source
A U‐Shaped Flow–Performance Sensitivity Across the Globe
European Financial Management, EarlyView.ABSTRACT Using a worldwide sample of equity mutual funds, we document a new stylized fact: the flow‐performance sensitivity (FPS) is greater for both bottom and top performance, compared to the middle. This “U‐shaped” FPS is especially strong in down markets, for small/mid‐cap funds, and in the latest decade. These results hold over quarterly or yearly
Markus Broman, Kelley Bergsma Lovelace
wiley +1 more source
The Role of Index Fund Ownership in the Era of Say‐on‐Pay
Financial Management, EarlyView.ABSTRACT We examine whether and how index funds influence executive compensation in the post‐Say‐on‐Pay era. Using the annual reconstitution of the Russell indexes as a source of exogenous variation in index fund ownership, we document a causal effect of index ownership on CEO pay structure.
Kiseo Chung, Hwanki Brian Kim
wiley +1 more source
Affiliated Mutual Funds: Beyond the Reach of the Invisible Hand?
Financial Management, EarlyView.ABSTRACT In many countries, banks are the primary distribution channel for mutual funds and predominantly sell products issued by their own asset management divisions (“affiliated funds”). We examine how this lack of competition affects managerial activeness, fund performance, and investor outcomes.
Dominik Scheld +3 more
wiley +1 more source
Intrastate Truck Driver Pay and Safety: A Longitudinal Analysis
Industrial Relations: A Journal of Economy and Society, EarlyView.ABSTRACT Truck drivers, their employers, and the public bear the costs of large truck crashes. Prior research finds that truck drivers tend to have fewer crashes when they are paid more, yet much of the U.S. industry operates with low pay and high turnover.
Kevin Conner +2 more
wiley +1 more source
The Agencies of the European Union: A Glimmer of Hope for Enlargement?
JCMS: Journal of Common Market Studies, EarlyView.Abstract In recent years, the process of EU enlargement has become increasingly difficult. The longer the process drags on and the less likely accession appears, the more the candidate states are discouraged and the less influential the EU becomes. A different approach to integration must therefore be used.
Matis Poussardin
wiley +1 more source
Brazilian Review of FinanceNeste artigo, avaliamos a presença de Exchange Traded Funds (ETFs) dominados na bolsa brasileira. ETFs dominados são fundos altamente correlacionados com outros ETFs, muitas vezes seguem o mesmo índice de referência, porém são menos líquidos e possuem custos administrativos superiores aos de seus similares.
Fernando Chague, Leonardo Luna
openaire +1 more source
Central Bank Purchases and Corporate Bond Issuance during the Pandemic: The Case of Japan
Journal of Financial Research, EarlyView.Abstract In its massive purchases of corporate bonds during the COVID‐19 pandemic, the Bank of Japan set the maximum eligible remaining maturity at 5 years. I document that during the postpandemic period, Japanese firms increased bond issuance, with the increase concentrated in (1) issuance of bonds with eligible maturities (1–5 years) and (2 ...
Yusuke Tsujimoto
wiley +1 more source
Journal of Financial Research, EarlyView.Abstract I analyze differences between the core and extended trading sessions in the high‐frequency reaction of equity markets to potential news. Using presidential tweets as unanticipated, potentially market‐stirring events, I find that volatility increases and liquidity deteriorates within fractions of a second after a tweet.
Stefan Scharnowski
wiley +1 more source
(In)Efficiencies in Latin American ETFs
Cuadernos de Administración, 2017 Este estudio evalúa empíricamente la eficiencia en la valoración de varios ETFs latinoamericanos, expresada en desviaciones de sus precios de mercado frente a los valores liquidativos subyacentes. Se cuantifican tales ineficiencias y se implementa una estrategia de negociación verificada por regresiones basadas en el CAPM y el Modelo Fama-French.
Yvonne Kreis +2 more
openaire +4 more sources