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Reshaping Financial Systems. New Technologies and Financial Innovations – Evidence from the United States, Mexico and Brazil
Lechman, Ewa - 2014
. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it … development of exchange traded funds in Mexico and in the United States, measured by increases in assets under management …. Moreover, in the period 2002-2012 Mexico has caught up with the United States in terms of ETFs share in total investment funds …
Persistent link: https://www.econbiz.de/10013056582
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ICT Technologies and Financial Innovations : The Case of Exchange Traded Funds in Brazil, Japan, Mexico, South Korea and the United States
Lechman, Ewa - 2014
examine the impact of increasing ICT penetration on the assets of exchange traded funds in Brazil, Mexico, Japan and South …, Mexico, the United States and South Korea; while in Brazil the analogous relationship is relatively weak, although still …
Persistent link: https://www.econbiz.de/10013040147
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Reshaping financial systems : new technologies and financial innovations - evidence from the United States, Mexico and Brazil
Lechman, Ewa; Marszk, Adam - 2014
. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it … fast development of exchange traded funds in Mexico and in the United States, measured by increases in assets under … management. Moreover, in the period 2002-2012 Mexico has caught up with the United States in terms of ETFs share in total …
Persistent link: https://www.econbiz.de/10011802118
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The Domestic Transmission of International Shocks : Evidence from US and Mexican Mutual Funds
De Jesus, Miguel - 2018
In this study, I demonstrate that international mutual funds can cause temporary stock price deviations from fundamentals in the countries they have positions in. I show that US mutual funds massively sold their Mexican equity when the recent crisis was developing, which then led to the average...
Persistent link: https://www.econbiz.de/10012930987
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Risks and Vulnerabilities in the U.S. Bond Mutual Fund Industry
Bouveret, Antoine; Yu, Jie - 2022
This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of analyses to identify which fund categories are more vulnerable to distress than others, and how sales from funds can impact financial stability. We develop a new measure to identify...
Persistent link: https://www.econbiz.de/10013305666
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Target Date Funds as Asset Market Stabilizers : Evidence from the Pandemic
Parker, Jonathan A.; Sun, Yang - National Bureau of Economic Research - 2023
Target Date Funds (TDFs) provide retirement investors, many of whom are unsophisticated or inattentive, with age-appropriate exposures to different asset classes like stocks and bonds. To maintain exposures, TDFs trade actively against market returns, buying stock funds when the stock market...
Persistent link: https://www.econbiz.de/10014337872
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The Performance of US Bond Mutual Funds
Clare, Andrew - 2019
We evaluate the performance of the US bond mutual fund industry using a comprehensive sample of bond funds over a long time period from January 1998 to February 2017. In this one study, we examine bond fund selectivity, market timing and performance persistence. We evaluate bond funds relative...
Persistent link: https://www.econbiz.de/10012890281
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You're fired! : new evidence on portfolio manager turnover
Kostovestsky, Leonard; Warner, Jerold B. - 2011 - 1. draft: March 2011
We study managerial turnover for both internally managed mutual funds and those managed externally by subadvisors. We argue that turnover of subadvisors provides sharper tests of any underlying board and sponsor monitoring because these data are heavily weighted toward involuntary turnover. We...
Persistent link: https://www.econbiz.de/10008906029
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Real effects of stock underpricing
Hau, Harald; Lai, Sandy - 2012 - May 28, 2012
This paper provides evidence for a causal effect of equity prices on corporate investment and employment. We use fire sales by distressed equity funds during the 2007--2009 financial crisis to identify substantial exogenous underpricing. Firms whose stocks are most underpriced have considerably...
Persistent link: https://www.econbiz.de/10009554205
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Milk or wine : mutual funds' (dis)economies of life
Dahm, Laura K.; Sorhage, Christoph - 2015 - First Draft: July 2015
Mutual fund investors are supposed to make long-term investments instead of striving for quick fortunes. However, the dynamics of funds' ability to generate abnormal returns over their lifetime is still an unattended issue. This paper provides evidence on the liability of newness and liability...
Persistent link: https://www.econbiz.de/10011300267