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Redemption in kind and mutual fund liquidity management
Agarwal, Vikas; Ren, Honglin; Shen, Ke; Zhao, Haibei - 2021
Open-end mutual funds can use redemption in kind to satisfy investor redemptions by delivering securities instead of cash. We find that funds that reserve their rightsto redeem in kind experience less redemption after poor performance. Evidence from actual in-kind transactions reveals several...
Persistent link: https://www.econbiz.de/10012818297
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Investment funds and financial stability : policy considerations
Garcia Pascual, Antonio (ed.); Singh, Ranjit A. (ed.);  … - 2021
The paper's analysis underscores the importance of the ongoing Financial Stability Board-led process of identifying policy options, involving national authorities and the International Organization of Securities Commissions and other standard setters. In this context, the global nature of the...
Persistent link: https://www.econbiz.de/10013336244
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Cash holdings of German open-end equity funds : does ownership matter?
Dötz, Niko; Weth, Mark - 2013
liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the …. Conditional on poor portfolio liquidity, we find that managers of permanently retail-oriented funds tend to move towards higher … when the portfolio liquidity of retail-based funds is higher. The striking effort undertaken by poorly liquid funds with a …
Persistent link: https://www.econbiz.de/10010202775
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Could the simultaneous persistence of greater cash holdings and interest-bearing debts affect stock price crash risk?
Xu, Pan; He, Jun; Wang, Daojuan; Johan, Sofia Atiqah; … - In: International journal of finance & economics : IJFE 29 (2024) 3, pp. 3226-3262
Persistent link: https://www.econbiz.de/10014635314
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Determinants of cash holdings in private firms : the case of the Slovenian SMEs
Angelovska, Marija; Valentinčič, Aljoša - In: Economic and business review : EBR 22 (2020) 1, pp. 5-36
Persistent link: https://www.econbiz.de/10012268681
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Saving for a rainy day : evidence from the 2000 dot-com crash and the 2008 credit crisis
Chen, Hsuan-chi; Chou, Robin K.; Lu, Chien-Lin - In: The journal of corporate finance : contracting, … 48 (2018), pp. 680-699
Persistent link: https://www.econbiz.de/10011806145
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What drives the liquidity of industrial firms?
Abdulla, Yomna; Ebrahim, Rabab; Kumaraswamy, Sumathi; … - In: Global business review 25 (2024) 2_suppl, pp. 90S-102S
Persistent link: https://www.econbiz.de/10014634278
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Impact of financial constraints and financial distress on cash holdings
Bukalska, Elżbieta; Maziarczyk, Anna - In: International journal of management and economics 59 (2023) 1, pp. 13-31
The aim of the study is to examine the impact of financial constraints and financial distress on cash holdings, both in normal and crisis times. We collected the 4,406 firm-year observations of companies listed on the Warsaw Stock Exchange (WSE). Our research shows that companies maintain higher...
Persistent link: https://www.econbiz.de/10014310085
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Fire Sales and Impediments to Liquidity Provision in the Corporate Bond Market
Wang, Zhi Jay - 2019
. We find that financial regulation and limited capital capacity significantly affect liquidity provision. Mutual funds …We examine impediments to liquidity provision by mutual funds to insurance companies during corporate bond fire sales … risk, and less active investment styles) provide less liquidity. Mutual funds actively investing in fire sale bonds earn …
Persistent link: https://www.econbiz.de/10012904096
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Market conditions and the effect of diversification on mutual fund performance : should funds be more concentrative under crisis?
Hu, Jin-li; Chang, Tzu-pu; Chou, Ray Yeutien - In: Journal of productivity analysis 41 (2014) 1, pp. 141-151
Persistent link: https://www.econbiz.de/10010429325