This paper investigates what predicts corporate governance in emerging markets. Specifically, we examine what predicts governance changes and the level of governance itself. To conduct this study, we utilize a unique data set from AllianceBernstein that consists of monthly firm-level corporate...

This study examines whether higher-paid workers have significantly higher rates of return on their 401(k) retirement accounts than lower-paid workers. This topic received considerable attention when Brooks Hamilton, a prominent benefits consultant, stated on the PBS program Frontline that the...

The study reported here identified an age bias in the Morningstar mutual fund ratings. I found that the average overall star ratings of seasoned funds are consistently - and in many cases, significantly - higher than the average overall star ratings of younger funds. This bias is not the result...

The efficient markets hypothesis in finance suggests that as equity markets are liberalized and made more open to the public, equity prices should reflect the increased availability of information and be more efficiently priced. In this paper, we examine whether emerging market equity prices...

The “file drawer problem” is a publication bias where editors of journals are much more likely to accept empirical papers with statistically significant results than those with non-significant results. As a result, papers that have non-significant results are not published and relegated to...

This paper represents the first specific attempt in the literature to examine the relationship between active share and emerging market equity fund performance. Using a sample of U.S. based diversified emerging market equity funds whose prospectus benchmark is the MSCI emerging market equity...

This paper examines the relationship between mutual fund governance and the activeness of equity mutual funds. Using a fund's corporate culture as a proxy for its governance and controlling for other variables, we find that funds with the better governance are significantly more active than...

Closet indexing is the practice of staying close to the benchmark index while still maintaining to be an active mutual fund manager and probably also charging fees similar to those of truly active managers. Recent work shows active mutual fund managers were much more likely to closet index...

In the wake of the market timing and late trading mutual fund scandals, many mutual funds adopted redemption fees to limit market timing. In this paper we investigate the impact of redemption fees on the risk-adjusted performance of U.S.-based international equity funds, the very funds that many...

This short paper examines the absence of change in the current best-selling introductory finance textbook, Ross, Westerfeld and Jordan's Fundamentals of Corporate Finance. The first edition was published in 1991 and the current edition, the tenth, was published in 2012. We do not attempt an...