Many Hungarian and foreign professionals are concerned with the issues regarding cross-border regions. Nowadays it is important to discuss this topic, as the European integration and globalisation extends the opportunities of cooperation between different states. As a matter of fact, the...

The microfinance industry in India, one of the largest in the world, has played a critical role in India's financial inclusion. Though its roots can be traced back at least to the 1970s, it has exploded in size and reach since the 1990s, been largely South India based in its distribution and has...

This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly positive influence of bonus payments on investment behavior on both sides of the Atlantic. Higher bonus payments are significantly related to higher working effort but not to risk...

This paper evaluates the Morningstar mutual fund ranking system. We find that indeed higher Morningstar ratings are associated with higher returns on the portfolios including respectively five-, four-, three-, two- and one-star funds only (STAR5 to STAR1). We then perform an unconditional and...

This paper investigates the purchases and redemptions of a large cross-sectional sample of German equity funds. We find that investors punish bad performance by selling their shares, but also have a tendency to sell winners. Investors in large fund families show higher sales and redemption...