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Socially responsible funds and market crises

Nofsinger, John; Varma, Abhishek - In: Journal of Banking & Finance 48 (2014) C, pp. 180-193

that focus on environmental, social, or governance (ESG) attributes and is especially pronounced in ESG funds that use …

Persistent link: https://www.econbiz.de/10011077971

Are mutual fund fees excessive?

Adams, John C.; Mansi, Sattar A.; Nishikawa, Takeshi - In: Journal of Banking & Finance 36 (2012) 8, pp. 2245-2259

prevalent in funds with multiple share classes and those with weak governance structures. Using a comprehensive sample of index … mutual funds for the from 1998 to 2007, we find that internal governance mechanisms matter primarily for funds with …

Persistent link: https://www.econbiz.de/10010599669

Understanding merger incentives and outcomes in the US mutual fund industry

Park, Minjung - In: Journal of Banking & Finance 37 (2013) 11, pp. 4368-4380

This paper examines the incentives of acquirers and targets in the merger market. Using data on acquisitions among mutual fund management companies from 1991 to 2004, I estimate a two-sided matching model of the merger market jointly with equations representing merger outcomes. According to the...

Persistent link: https://www.econbiz.de/10010703265

Institutional investor stability and crash risk: Monitoring versus short-termism?

Callen, Jeffrey L.; Fang, Xiaohua - In: Journal of Banking & Finance 37 (2013) 8, pp. 3047-3063

This study tests two opposing views of institutional investors—monitoring versus short-termism. We present evidence that institutional investor stability is negatively associated with 1-year-ahead stock price crash risk, consistent with the monitoring theory of institutional investors but not...

Persistent link: https://www.econbiz.de/10011065707

Governance, product market competition and cash management in IPO firms

Jain, Bharat A.; Li, Joanne; Shao, Yingying - In: Journal of Banking & Finance 37 (2013) 6, pp. 2052-2068

This study evaluates the link between CEO governance heterogeneity, power structure of the firm, and product market … of cash reserves are higher under a founder CEO governance regime relative to non-founder CEOs. Concentrating board power … CEOs. Further, we find that stronger internal governance reduces the tendency of IPO firms to deploy excess cash reserves …

Persistent link: https://www.econbiz.de/10010662585

The relationship between net interest margin and noninterest income using a system estimation approach

Nguyen, James - In: Journal of Banking & Finance 36 (2012) 9, pp. 2429-2437

This paper examines the determinants of bank net interest margin (NIM) and non-traditional banking activities (NII). A system estimation approach is employed to control for the simultaneity between NIM and NII for commercial banks in a group of 28 financially liberalized countries during the...

Persistent link: https://www.econbiz.de/10010599663

A look inside AMLF: What traded and who benefited

Akay, Ozgur; Griffiths, Mark D.; Kotomin, Vladimir; … - In: Journal of Banking & Finance 37 (2013) 5, pp. 1643-1657

The Federal Reserve’s AMLF program was designed to provide liquidity to money market funds (MMFs). Between September 2008 and May 2009, the program made $217 billion in non-recourse loans to depository institutions and bank holding companies to purchase asset-backed commercial paper from MMFs....

Persistent link: https://www.econbiz.de/10010662597

Can prospect theory be used to predict an investor’s willingness to pay?

Erner, Carsten; Klos, Alexander; Langer, Thomas - In: Journal of Banking & Finance 37 (2013) 6, pp. 1960-1973

Cumulative prospect theory (CPT) is widely considered to be the most successful descriptive theory for decision making under risk and uncertainty. Sophisticated methods have been developed to reliably elicit CPT parameters on an individual basis. The aim of this paper is to analyze whether such...

Persistent link: https://www.econbiz.de/10010662607

Short-term persistence in hybrid mutual fund performance: The role of style-shifting abilities

Herrmann, Ulf; Scholz, Hendrik - In: Journal of Banking & Finance 37 (2013) 7, pp. 2314-2328

Our study analyzes the performance of hybrid mutual funds. Based on two extended Carhart models we determine total fund performance by comparing fund returns to investable fund-specific style benchmarks. Using daily returns and a quarterly measurement interval, we present an innovative...

Persistent link: https://www.econbiz.de/10010666262

Has market discipline on banks improved after the Dodd–Frank Act?

Balasubramnian, Bhanu; Cyree, Ken B. - In: Journal of Banking & Finance 41 (2014) C, pp. 155-166

We investigate whether or not market discipline on banking firms changed after the Dodd–Frank Wall Street Reform and Consumer Protection Act (DFA) of 2010. If market discipline is improved, we should see a lower discount for size on yield spreads, particularly for banks identified as...

Persistent link: https://www.econbiz.de/10010744383

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