Where Do “Impatient” Mutual Funds Invest? A Special Attraction for Large Proximate Markets and Companies with Strategic Investors
CHENAF-NICET, Dalila
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
CHENAF-NICET, Dalila
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
< Réduire
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
Langue
EN
Article de revue
Ce document a été publié dans
Journal of Mathematical Finance. 2016-11, vol. 06, n° 04, p. 502-523
Résumé en anglais
Our study examines the investment determinants of worldwide mutual funds from the perspective of economic geography. In particular, we investigate the local preferences of “impatient” mutual funds for specific countries. ...Lire la suite >
Our study examines the investment determinants of worldwide mutual funds from the perspective of economic geography. In particular, we investigate the local preferences of “impatient” mutual funds for specific countries. By analyzing a sample of 22,996 worldwide mutual funds over the period from 2005 to 2009, we demonstrate that impatient mutual funds are favorable to 1) large stock markets, 2) markets with a high level of protection for shareholders, 3) markets with familiar institutional practices, and 4) markets dominated by the presence of “strategic” investors as main shareholders of large listed companies.< Réduire
Mots clés en anglais
Geography of Finance
Mutual Funds
Impatient Investors
Portfolio Turnover