In this paper, we consider for the first time the impact of fund regulation on the international distribution of investment funds. We study the 2001 UCITS Directive of the European Union, which was put in place to mitigate fraud and promote investor confidence throughout Europe. We examine the...

We examine the spread of voluntary investor protection mechanisms across countries. In particular, we consider UCITS protection for mutual funds. We explore the spread of 1344 UCITS bond funds and 2784 UCITS equity funds from various countries of origin in Europe initiated in the 2001-2007...

We examine the spread of UCITS funds around the world, and consider whether such mutual funds that adopt higher standards of voluntary investor protection expand their operations to other countries with higher or lower investor protection regimes. The data indicate equity funds spread to...

We examine the spread of Undertakings for Collective Investment in Transferable Securities (UCITS) funds around the world and consider whether such mutual funds, which voluntarily adopt higher standards of investor protection, expand their operations to other countries with higher or lower...

We examine the spread of UCITS funds around the world, and consider whether such mutual funds that adopt higher standards of voluntary investor protection expand their operations to other countries with higher or lower investor protection regimes. The data indicate equity funds spread to...

In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...

In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...

In this paper, we show that too strong investor protection may harm small firms and entrepreneurial initiatives, which contrasts with the traditional ‘law and finance' view that stronger investor protection is better. This situation is particularly relevant in equity crowdfunding, which refers...

In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...

This paper examines the causes and consequences of mutual fund outsourcing to different types of service providers: advisors, custodians, administrators, and transfer agents. The data indicates outsourcing is less common among bank-managed funds, funds of leading groups, but more common among...