Independent directors are appointed to represent the interests of mutual fund shareholders. Yet, being in the employment of fund–families, the fulfilment of fiduciary duties of independent directors may be compromised. Using a large, hand-collected dataset of over 10,000 U.S. mutual funds, we...

It is recognized in the literature that there is a negative relationship between fund performance and fund exit. This paper analyses the performance of 6,600 U.S. mutual funds that exited the market in the 2000 – 2014 period and nearly twice as many U.S. mutual funds that remained operational,...

The creation of Bao products, i.e., Apps that facilitate instant transactions and access to money for money market mutual fund (MMF) investors, and the creation of full-payment Bao products, i.e., Apps that enable bill payments directly from MMF accounts, are a rare example of architectural...