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Equity Fund Flows and Stock Market Returns in the US Before and After the Global Financial Crisis : A VAR-GARCH-in-mean Analysis

Babalos, Vassilios - 2016

The 2008-2009 global financial crisis has raised new questions about the relationship between equity fund flows and stock market returns. This paper analyses it using US monthly data over the period 2000:1-2015:08. A VAR-GARCH(1,1)-in-mean model with a BEKK representation is estimated, and a...

Persistent link: https://www.econbiz.de/10012987395

Swedish Equity Mutual Funds 1993-2013 : Performance, Persistence and Presence of Skill

Flam, Harry - 2017

Actively managed Swedish equity mutual funds outperform the market in 1993‐2001 but have negative gross and net excess returns of ‐0.18 and ‐1.47 per cent per year in 2002‐2013. Across funds, there is no correlation between activism and return in the later period. Returns show little or...

Persistent link: https://www.econbiz.de/10012942007

Measuring Alpha in the Fund Management Industry : Do Female Managers Perform Better?

Babalos, Vassilios - 2013

This paper examines the performance of 358 European diversified equity mutual funds controlling for gender differences. Fund performance is evaluated against funds' designated market indices and representative style portfolios. Consistently with previous studies, no significant differences in...

Persistent link: https://www.econbiz.de/10013080505

Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Parigi, Bruno Maria; Pelizzon, Loriana; Thadden, … - CESifo - 2013

This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...

Persistent link: https://www.econbiz.de/10010720638

Estimating the Compliance Costs of Securities Regulation : A Bunching Analysis of Sarbanes-Oxley Section 404(b)

Dharmapala, Dhammika - 2016

An extensive literature has analyzed the Sarbanes-Oxley (SOX) legislation enacted in 2002, but its social welfare consequences remain controversial. One of the most significant provisions of SOX – auditor attestation of internal controls under Section 404(b) – has been applied only to firms...

Persistent link: https://www.econbiz.de/10012977400

Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Parigi, Bruno Maria; Pelizzon, Loriana; von Thadden, … - 2021

Persistent link: https://www.econbiz.de/10013315674

Social Preferences and Portfolio Choice

Riedl, Arno - 2017

To understand why investors hold socially responsible mutual funds, we link administrative data to survey responses and behavior in incentivized experiments. We find that both social preferences and social signaling explain socially responsible investment (SRI) decisions. Financial motives play...

Persistent link: https://www.econbiz.de/10012973937

Does Pension Privatization Increase Economic Growth? Evidence from Latin America and Eastern Europe

Altiparmakov, Nikola - 2016

Analyses of pension funding effects on economic growth need to differentiate between ‘carve-out' pension privatization … evidence that pension privatization in Latin America and Eastern Europe was associated with higher economic growth. The result … particularly unlikely in countries resorting to debt-financed privatization. Furthermore, we note the lack of positive pension …

Persistent link: https://www.econbiz.de/10012980582

Contracting Out Mandatory Counselling and Training for Long-Term Unemployed. Private For-Profit or Non-Profit, or Keep it Public?

Cockx, Bart - 2015

This study evaluates the effectiveness of contracting out mandatory publicly provided counselling and training for long-term unemployed in Flanders (Belgium) to private for-profit and non-profit organisations (FPOs and NPOs). A multivariate transition model exploits timing-of-events and novel...

Persistent link: https://www.econbiz.de/10013010905

External Constraints Matter for Privatizations

Petrarca, Ilaria - 2014

We present an analysis of the share of public ownership in the product market in the OECD countries from 1974 to 2007. Despite much has been said on the broad topic of reforms and regulation, a sector-specific insight is missing. We replicate the analysis of Galasso (2014) by sector of activity...

Persistent link: https://www.econbiz.de/10013044551

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