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Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness and efficiency across society as a whole....
Persistent link: https://www.econbiz.de/10012472798
Persistent link: https://www.econbiz.de/10003774896
and economically sound public fund management practices in these funds, as well as how to evaluate their governance and … finance literature, we also link their management to governance practices and country-specific characteristics, and contrast …
Persistent link: https://www.econbiz.de/10012464569
We document that the observed persistence amongst the worst performing actively managed mutual funds is attributable to funds that have performed poorly both in the current and prior year. We demonstrate that this persistence results from an unwillingness of investors in these funds to respond...
Persistent link: https://www.econbiz.de/10012465612
benchmark substantially mitigates the utility costs of decentralized investment management. These costs can be further reduced …
Persistent link: https://www.econbiz.de/10012466511
Understanding how differences in management "best practices" affect organizational outcomes has been a focus of both … theoretical and empirical work in the fields of management, sociology, economics and public policy. The World Management Survey … (WMS) project was born almost two decades ago with the main goal of developing a new systematic measure of management …
Persistent link: https://www.econbiz.de/10012496077
Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across … recent work on management practices. Our preliminary results suggest that about a quarter of cross-country and within …-country TFP gaps can be accounted for by management practices. Management seems to matter both qualitatively and quantitatively …
Persistent link: https://www.econbiz.de/10012458562
We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … avoid econometric biases are insignificant. We also find that the active management industry has become more skilled over …
Persistent link: https://www.econbiz.de/10012458773
A recent literature has introduced heterogeneous firms into models of international trade. This literature has adopted the convention of treating individual firms as points on a continuum. While the continuum offers many advantages this convenience comes at some cost: (1) Shocks to individual...
Persistent link: https://www.econbiz.de/10012460795
For the last decade we have been using double-blind survey techniques and randomized sampling to construct management … worse managed than those in several other developed countries. We also find substantial variation in management practices … product market competition and higher worker skills are associated with better management practices. Less regulated labor …
Persistent link: https://www.econbiz.de/10012460809