This paper shows how the combined endogenous reaction of banks and investment funds to an exogenous shock can amplify or dampen losses to the financial system compared to results from single-sector stress testing models. We build a new model of contagion propagation using a very large and...

This study has made an attempt to measure competition in the Indian mutual fund industry. The preliminary observation shows that there occurred a drastic change in the industry after the liberalization. The entry of a large number of private and foreign mutual funds, (joint ventures both...

Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...