Alternative Eigenkapitalquellen gefunden. Wenig Eigenkapital oder eine ungeregelte Nachfolge verschließen oft die Tür zum klassischen Bankkredit. Der Ausweg: die Aufnahme eines institutionellen Finanzinvestors. Welche Entwicklungschancen bieten sich mittelständischen Unternehmen? Was erwartet...

This study compares a measure of market-share changes with net flows to revisit the fund flow-performance relationship from the viewpoint of the heteroscedasticity of fund flows. We decompose market-share changes (net flows) into inflow and outflow shares and other parts (inflow and outflow) to...

We investigate the relationship between net inflow to mutual bond funds that invest in emerging market economies (EMEs) and the past performance of these funds. Our main finding is that EME bond funds display a convex flow-performance relationship. In other words, past performance is a...