Bagattini, Giulio; Fecht, Falko; Maddaloni, Angela - 2023 - This version: February 2023
Flows of funds run by banks or by firms that belong to the same financial group as a bank are less volatile and less sensitive to bad past performance. This enables bank-affiliated funds to better weather distress and to hold lower precautionary cash buffers in comparison with their unaffiliated...
