Mutual funds withdraw shield: performance or agency costs driver?
Autor(a) principal: | |
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Data de Publicação: | 2012 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10198/10348 |
Resumo: | In this paper, using a unique database, we compare the performance of a set of equity mutual funds to a set of equity savings funds, which are similar to equity mutual funds in all but one characteristic: the tax regime that strongly penalizes withdrawals from equity savings funds. We found evidence consistent with the hypothesis that mutual funds less subject to liquidity shocks exhibit higher performances. |
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Mutual funds withdraw shield: performance or agency costs driver?Mutual fund performanceWithdrawalsliquidity shocksFiscal policyIn this paper, using a unique database, we compare the performance of a set of equity mutual funds to a set of equity savings funds, which are similar to equity mutual funds in all but one characteristic: the tax regime that strongly penalizes withdrawals from equity savings funds. We found evidence consistent with the hypothesis that mutual funds less subject to liquidity shocks exhibit higher performances.Biblioteca Digital do IPBAlves, Carlos FranciscoMouta, Helena2014-09-08T10:20:17Z20122012-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10198/10348engAlves, Carlos; Mouta, Helena (2012). Mutual funds withdraw shield: performance or agency costs driver? Economics and Business Letters. ISSN 2254-4380. 1(1), p. 30-342254-4380info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-21T10:24:56Zoai:bibliotecadigital.ipb.pt:10198/10348Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T23:01:20.052658Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Mutual funds withdraw shield: performance or agency costs driver? |
title |
Mutual funds withdraw shield: performance or agency costs driver? |
spellingShingle |
Mutual funds withdraw shield: performance or agency costs driver? Alves, Carlos Francisco Mutual fund performance Withdrawals liquidity shocks Fiscal policy |
title_short |
Mutual funds withdraw shield: performance or agency costs driver? |
title_full |
Mutual funds withdraw shield: performance or agency costs driver? |
title_fullStr |
Mutual funds withdraw shield: performance or agency costs driver? |
title_full_unstemmed |
Mutual funds withdraw shield: performance or agency costs driver? |
title_sort |
Mutual funds withdraw shield: performance or agency costs driver? |
author |
Alves, Carlos Francisco |
author_facet |
Alves, Carlos Francisco Mouta, Helena |
author_role |
author |
author2 |
Mouta, Helena |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Biblioteca Digital do IPB |
dc.contributor.author.fl_str_mv |
Alves, Carlos Francisco Mouta, Helena |
dc.subject.por.fl_str_mv |
Mutual fund performance Withdrawals liquidity shocks Fiscal policy |
topic |
Mutual fund performance Withdrawals liquidity shocks Fiscal policy |
description |
In this paper, using a unique database, we compare the performance of a set of equity mutual funds to a set of equity savings funds, which are similar to equity mutual funds in all but one characteristic: the tax regime that strongly penalizes withdrawals from equity savings funds. We found evidence consistent with the hypothesis that mutual funds less subject to liquidity shocks exhibit higher performances. |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012 2012-01-01T00:00:00Z 2014-09-08T10:20:17Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10198/10348 |
url |
http://hdl.handle.net/10198/10348 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Alves, Carlos; Mouta, Helena (2012). Mutual funds withdraw shield: performance or agency costs driver? Economics and Business Letters. ISSN 2254-4380. 1(1), p. 30-34 2254-4380 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799135245311672320 |