Showing 1 - 10 of 18
Persistent link: https://www.econbiz.de/10013086247
The finance and accounting literature document how operating company disclosure tone and textual attributes affect firm performance, earnings persistence, stock volatility, capital costs, and retail investor behavior. In this Article, we explore the applicability of these theories to mutual fund...
Persistent link: https://www.econbiz.de/10012825575
In this Essay, I challenge the conventional corporate law wisdom that unhappy mutual fund investors paying high fees don't need litigation or regulation to protect their interests because they should simply exit a fund and reinvest elsewhere. The exit solution, advanced by Professors John Morley...
Persistent link: https://www.econbiz.de/10013012141
We draw on new data and theory to examine how private market contracts adapt to serve multiple goals, particularly the social-benefit goals that impact funds add to their financial goals. Counter to the intuition from multitasking models (Holmstrom and Milgrom, 1991), few impact funds tie...
Persistent link: https://www.econbiz.de/10012852517
Persistent link: https://www.econbiz.de/10013025598
This Article explains and explores new Securities Exchange Commission rules authorizing optional swing pricing for mutual funds. Swing pricing is an anti-dilution tool intended to protect sedentary investors who enter, and stay, in a fund. Workers setting aside money for retirement are often...
Persistent link: https://www.econbiz.de/10012919974
Mutual fund portfolio turnover ratios (PTR) are at the center of the short-termism debate, which criticizes corporate maneuvers taken to prop up near-term earnings at the expense of long-term, value focused investments and policies. Scholars and policymakers often rely on portfolio turnover...
Persistent link: https://www.econbiz.de/10012919977
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How successful are the SEC’s attempts to regulate dynamic risk in financial markets? Using mutual fund disclosure data from two financial shocks—the Puerto Rican debt crisis and COVID-19—we find evidence that SEC open-ended regulations, like the obligation to disclose changing market...
Persistent link: https://www.econbiz.de/10013212671