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Corporate Tax Avoidance and Mutual Fund Ownership
Doellman, Thomas W. - 2020
We document evidence that mutual funds, on average, are averse to investing in tax-avoiding firms, which seems … anomalous given the potential for two likely motives. Mutual fund managers' compensation incentives may lead them to prefer tax … consistent with our results, is that mutual funds focus on decreasing their tax information processing costs. Our results remain …
Persistent link: https://www.econbiz.de/10012842420
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Mutual Funds’ Aversion to Tax-avoiding Firms : An Anomaly?
Doellman, Thomas W. - 2019
We document evidence that mutual funds, on average, are averse to investing in tax-avoiding firms, which seems … ownership in tax-avoiding firms, a result inconsistent with both fund managers' incentive and diversification motives …. Furthermore, mutual funds' aversion to tax-avoiding firms persists regardless of the mutual funds' investment horizons …
Persistent link: https://www.econbiz.de/10012901997
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What's in your 403(b)? Academic retirement plans and the costs of underdiversification
Angus, John; Brown, William O.; Smith, Janet Kiholm; … - 2005
Many college and university 403(b) plans restrict the menu of investment choices to funds offered by TIAA-CREF, the current manager of over half of all 403(b) contributions. Further, in the face of Internal Revenue Code changes that will take effect in 2006 and will make 403(b) plan ERISA...
Persistent link: https://www.econbiz.de/10010276762
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What's in your 403(b)? : Academic retirement plans and the costs of underdiversification
Angus, John; Brown, William O.; Smith, Janet Kiholm; … - 2005
Many college and university 403(b) plans restrict the menu of investment choices to funds offered by TIAA-CREF, the current manager of over half of all 403(b) contributions. Further, in the face of Internal Revenue Code changes that will take effect in 2006 and will make 403(b) plan ERISA...
Persistent link: https://www.econbiz.de/10003231314
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The Four Benchmarks of Sovereign Wealth Funds
Ang, Andrew - 2011
The benchmarks of a Sovereign Wealth Fund (SWF) should take into account the economic and political context behind the creation of the SWF and the role the SWF plays as one part of a government's overall policy. The first benchmark of legitimacy ensures that the capital of the SWF is not...
Persistent link: https://www.econbiz.de/10013132903
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ADR Holdings of U.S.-Based Emerging Market Funds
Aggarwal, Reena - 2012
What motivates investors to hold American Depositary Receipts (ADRs) rather than the underlying stock of U.S. listed foreign firms? We analyze the investment allocation decision of actively-managed emerging market mutual fund managers. Although legal provisions are typically assumed to affect...
Persistent link: https://www.econbiz.de/10013115617
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Fiduciary Finance : Investment Funds and the Crisis in Financial Markets
Gold, Martin - 2012
This multi-faceted analysis of institutional investment defines fiduciary finance institutions as the third pillar of the financial system, alongside banks and insurers. It documents the role played by investment funds and the money management industry during the recent financial crisis, and...
Persistent link: https://www.econbiz.de/10013115823
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Informativeness of Mutual Fund Advertisements : Does Advertising Communicate Fund Quality to Investors?
Obaid, Khaled - 2020
We uncover a positive relation between advertising expenditures and skill in the mutual fund industry. Motivated by economic signaling models, we find that funds advertising in magazines outperform their peers by 83 basis points in the subsequent year. We determine that the performance...
Persistent link: https://www.econbiz.de/10012835299
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Debt Market Crisis and Its impact on Debt Mutual Funds
Manda, Vijaya Kittu - 2019
Indian Mutual Funds are managing assets worth Rs. 24.12 trillion (Jan 2019). 29% of these assets are in debt schemes. 54% of these debt fund investments are individual investor monies. Indian debt market is under severe pressure in recent times and this is cascading into mutual funds segment....
Persistent link: https://www.econbiz.de/10012890917
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Lifecycle Investing with Target Date Funds
Cobbe, Henry - 2015
Consumer demand and regulatory changes in the UK, is driving growth of innovative solutions that are easier to use, simpler to understand, offer good value for money, and create better customer outcomes. A key tool in this growing sector are asset allocation funds such as Target Date Funds...
Persistent link: https://www.econbiz.de/10013021367