Where do “impatient” mutual funds invest? A special attraction for large proximate markets and companies with strategic investors
AbstractOur study examines the investment determinants of worldwide mutual funds from the perspective of economic geography. In particular, we investigate the preference of “impatient” mutual funds for specific countries. By analyzing a sample of 22,996 worldwide mutual funds over the period (2005-2009), we demonstrate that “impatient” mutual funds are favorable to large stock markets, markets with a high level of protection for shareholders, markets with familiar institutional practices and markets dominated by the presence of “strategic” investors as main shareholders of large listed companies.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number 2013-12.
Date of creation: 2013
Date of revision:
Contact details of provider:
Postal: Avenue Léon Duguit, 33608 Pessac Cedex
Phone: +33 (0)188.8.131.52.75
Fax: +33 (0)184.108.40.206.47
Web page: http://gretha.u-bordeaux4.fr/
More information through EDIRC
geography of finance; mutual funds; “impatient” investors; portfolio turnover;
Find related papers by JEL classification:
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- P10 - Economic Systems - - Capitalist Systems - - - General
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vincent Frigant).
If references are entirely missing, you can add them using this form.