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]
< Reduce
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
Language
EN
Article de revue
This item was published in
Journal of Mathematical Finance. 2016-11, vol. 06, n° 04, p. 502-523
English Abstract
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. ...Read more >
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.Read less <
English Keywords
Geography of Finance
Mutual Funds
Impatient Investors
Portfolio Turnover