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Information flows within financial conglomerates: Evidence from the banks-mutual funds relation

Citations

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Cited by:

  1. Massimo Massa & Lei Zhang, 2018. "Does corporate hedging attract foreign institutional investors? Evidence from international firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(5), pages 605-632, July.
  2. Hiraki, Takato & Honda, Toshiki & Ito, Akitoshi & Liu, Ming, 2021. "Banks, IPO underwriting, and allocation in Japan," Journal of Economics and Business, Elsevier, vol. 116(C).
  3. Haoyue Zhang & Dayong Lv & Wenfeng Wu, 2022. "Why do bank‐affiliated mutual funds perform better in China?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(5), pages 4755-4782, December.
  4. Shujun Ding & Chunxin Jia & Zhenyu Wu, 2016. "Mutual Fund Activism and Market Regulation During the Pre-IFRS Period: The Case of Earnings Informativeness in China from an Ethical Perspective," Journal of Business Ethics, Springer, vol. 138(4), pages 765-785, November.
  5. Jing Xie, 2024. "Stock-Picking by Mutual Funds: Evidence from Trading in Family-Controlled Firms," Working Papers 202411, University of Macau, Faculty of Business Administration.
  6. Leano,Miguel & Pedraza Morales,Alvaro Enrique, 2016. "Informed trading in business groups, ownership concentration, and market liquidity," Policy Research Working Paper Series 7688, The World Bank.
  7. Karakaya, Neslihan & Michalski, Tomasz K. & Örs, Evren, 2022. "Banking integration and growth: Role of banks' previous industry exposure," Journal of Financial Intermediation, Elsevier, vol. 49(C).
  8. Güner, Z. Nuray & Önder, Zeynep, 2022. "Bank affiliation and discounts on closed-end funds," International Review of Financial Analysis, Elsevier, vol. 83(C).
  9. Chen, Yihao & Miguel, Antonio F. & Liu, Xiayue, 2021. "Does mutual fund family size matter? International evidence," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
  10. Yangyang Chen & Jun Huang & Ting Li & Jeffrey Pittman, 2022. "It's a Small World: The Importance of Social Connections with Auditors to Mutual Fund Managers’ Portfolio Decisions," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 60(3), pages 901-963, June.
  11. Chen, Jiun-Lin & Sanger, Gary C. & Song, Wei-Ling, 2019. "The relationship insurance role of financial conglomerates: Evidence from earnings announcements," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 505-527.
  12. Kumar, Nitish & Mullally, Kevin & Ray, Sugata & Tang, Yuehua, 2020. "Prime (information) brokerage," Journal of Financial Economics, Elsevier, vol. 137(2), pages 371-391.
  13. Ledgerwood Shaun D. & Carpenter Paul R., 2012. "A Framework for the Analysis of Market Manipulation," Review of Law & Economics, De Gruyter, vol. 8(1), pages 253-295, September.
  14. Ben-David, Itzhak & Birru, Justin & Rossi, Andrea, 2019. "Industry familiarity and trading: Evidence from the personal portfolios of industry insiders," Journal of Financial Economics, Elsevier, vol. 132(1), pages 49-75.
  15. Mola, Simona & Guidolin, Massimo, 2009. "Affiliated mutual funds and analyst optimism," Journal of Financial Economics, Elsevier, vol. 93(1), pages 108-137, July.
  16. Manconi, Alberto & Massa, Massimo & Yasuda, Ayako, 2012. "The role of institutional investors in propagating the crisis of 2007–2008," Journal of Financial Economics, Elsevier, vol. 104(3), pages 491-518.
  17. Wang, Xiaoxiao, 2024. "Bank affiliation and lottery-like characteristics of mutual funds," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 944-963.
  18. Viktoriya Lantushenko & Edward Nelling, 2021. "Do more active funds still earn higher performance? Evidence from Active Share over time," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(4), pages 725-752, December.
  19. Massa, Massimo & Cheng, Si & Zhang, Hong, 2017. "The Unexpected Activeness of Passive Investors: A World-Wide Analysis of ETFs," CEPR Discussion Papers 11988, Centre for Economic Policy Research.
  20. Veronika K. Pool & Clemens Sialm & Irina Stefanescu, 2016. "It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans," Journal of Finance, American Finance Association, vol. 71(4), pages 1779-1812, August.
  21. Gajewski, Jean-François & Tran Dieu, Linh, 2021. "Determinants and performance of outsourcing in the european mutual fund market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
  22. Pappas, Kostas & Walsh, Eamonn & Xu, Alice Liang, 2019. "Real earnings management and loan contract terms," The British Accounting Review, Elsevier, vol. 51(4), pages 373-401.
  23. Zhang, Jinhua & Mao, Rui & Goodell, John W. & Du, Anna Min & Xu, Yimin, 2024. "Impact of bank-affiliation on liquidity seeking of foreign mutual funds during adverse shocks: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PB).
  24. Haselmann, Rainer & Leuz, Christian & Schreiber, Sebastian, 2021. "Know Your Customer: Relationship Lending and Bank Trading," LawFin Working Paper Series 22, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
  25. Chu, Yongqiang & Lin, Luca X. & Xiao, Zhanbing, 2024. "Agree to disagree: Lender equity holdings, within-syndicate conflicts, and covenant design," Journal of Financial Intermediation, Elsevier, vol. 57(C).
  26. Hyoseok (David) Hwang, 2019. "Informed Trading of Mutual Funds: Evidence from Fund‐Underwriter Relationships," Financial Management, Financial Management Association International, vol. 48(1), pages 311-338, March.
  27. Loureiro, Gilberto & Mendonça, Cesar, 2024. "Do large registered investment funds undermine shareholder activism? Evidence from hedge fund proposals," Journal of Banking & Finance, Elsevier, vol. 162(C).
  28. Jean-François Gajewski & Linh Tran Dieu, 2021. "Determinants And Performance Of Outsourcing In The European Mutual Fund Market," Post-Print hal-03221014, HAL.
  29. Pratobevera, Giuseppe, 2024. "Bank-affiliated institutional investors and IPO syndicates formation," Journal of Corporate Finance, Elsevier, vol. 86(C).
  30. Bagattini, Giulio & Fecht, Falko & Maddaloni, Angela, 2023. "Liquidity support and distress resilience in bank-affiliated mutual funds," Working Paper Series 2799, European Central Bank.
  31. Ting Chen & Xiumin Martin, 2011. "Do Bank‐Affiliated Analysts Benefit from Lending Relationships?," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 49(3), pages 633-675, June.
  32. Antonio Gargano & Alberto G. Rossi & Russ Wermers, 2017. "The Freedom of Information Act and the Race Toward Information Acquisition," The Review of Financial Studies, Society for Financial Studies, vol. 30(6), pages 2179-2228.
  33. Ivashina, Victoria & Sun, Zheng, 2011. "Institutional stock trading on loan market information," Journal of Financial Economics, Elsevier, vol. 100(2), pages 284-303, May.
  34. Benjamin Golez & José M. Marín, 2010. "Price support in the stock market," Working Papers 2010-16, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  35. Li, Frank Weikai & Mukherjee, Abhiroop & Sen, Rik, 2021. "Inside brokers," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1096-1118.
  36. Ayadi, Mohamed A. & Kryzanowski, Lawrence & Mohebshahedin, Mahmood, 2018. "Impact of sponsorship on fixed-income fund performance," The Quarterly Review of Economics and Finance, Elsevier, vol. 67(C), pages 121-137.
  37. Luo, Mancy, 2017. "Essays in financial intermediation and political economy," Other publications TiSEM 146f40d3-6c89-4c6d-8fea-1, Tilburg University, School of Economics and Management.
  38. Michalski, Tomasz & Ors, Evren, 2012. "(Interstate) Banking and (interstate) trade: Does real integration follow financial integration?," Journal of Financial Economics, Elsevier, vol. 104(1), pages 89-117.
  39. Clemens Sialm & T. Mandy Tham, 2016. "Spillover Effects in Mutual Fund Companies," Management Science, INFORMS, vol. 62(5), pages 1472-1486, May.
  40. Avramov, Doron & Cheng, Si & Tarelli, Andrea, 2026. "Active fund management when ESG matters," Journal of Banking & Finance, Elsevier, vol. 182(C).
  41. Linda Allen & Suparna Chakraborty & Sonali Hazarika & Chih-Huei Su, 2020. "Bank dependence in emerging countries: Cross-border information percolation in mutual fund equity investing," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(2), pages 218-243, March.
  42. Bodnaruk, Andriy & Rossi, Marco, 2016. "Dual ownership, returns, and voting in mergers," Journal of Financial Economics, Elsevier, vol. 120(1), pages 58-80.
  43. Berzins, Janis & Liu, Crocker H. & Trzcinka, Charles, 2013. "Asset management and investment banking," Journal of Financial Economics, Elsevier, vol. 110(1), pages 215-231.
  44. Duarte-Silva, Tiago, 2010. "The market for certification by external parties: Evidence from underwriting and banking relationships," Journal of Financial Economics, Elsevier, vol. 98(3), pages 568-582, December.
  45. Wang, Xiaoxiao & Zhang, Xueyong, 2024. "Bank affiliation and timing ability of mutual funds: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 163(C).
  46. Byoung-Hyoun Hwang & José María Liberti & Jason Sturgess, 2019. "Information Sharing and Spillovers: Evidence from Financial Analysts," Management Science, INFORMS, vol. 65(8), pages 3624-3636, August.
  47. Wang, Xiaoxiao, 2023. "Bank affiliation and mutual funds’ trading strategy distinctiveness," International Review of Financial Analysis, Elsevier, vol. 88(C).
  48. Sun, Lin & Teo, Melvyn, 2019. "Public hedge funds," Journal of Financial Economics, Elsevier, vol. 131(1), pages 44-60.
  49. Akbari, Amir & Krystyniak, Karolina, 2021. "Government real estate interventions and the stock market," International Review of Financial Analysis, Elsevier, vol. 75(C).
  50. George O. Aragon & Ji-Woong Chung & Byoung Uk Kang, 2023. "Do Prime Brokers Matter in the Search for Informed Hedge Fund Managers?," Management Science, INFORMS, vol. 69(8), pages 4932-4952, August.
  51. Carlos Cañón & Jorge Florez-Acosta & Karoll Gómez, 2023. "The effects of two-way lending between financial conglomerates in bilateral repo markets," Borradores de Economia 1246, Banco de la Republica de Colombia.
  52. Massa, Massimo & Schmidt, Daniel, 2015. "Insider Trading in the Bond Market: Evidence from Loan Sale Events," CEPR Discussion Papers 10446, Centre for Economic Policy Research.
  53. Shih-Chu Chou & Ramachandran Natarajan & Kenneth Zheng, 2022. "Conglomerate internal informational advantage and resource allocation efficiency," Review of Quantitative Finance and Accounting, Springer, vol. 59(2), pages 717-748, August.
  54. Wattanatorn, Woraphon & Padungsaksawasdi, Chaiyuth & Chunhachinda, Pornchai & Nathaphan, Sarayut, 2020. "Mutual fund liquidity timing ability in the higher moment framework," Research in International Business and Finance, Elsevier, vol. 51(C).
  55. Huang, Yin-Siang & Bui, Dien Giau & Lin, Chih-Yung & Robin,, 2022. "The effect of abnormal institutional attention on bank loans," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 76(C).
  56. von Beschwitz, Bastian & Foos, Daniel, 2018. "Banks’ equity stakes and lending: Evidence from a tax reform," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 322-343.
  57. Lingling Zheng & Xuemin (Sterling) Yan, 2021. "Financial Industry Affiliation and Hedge Fund Performance," Management Science, INFORMS, vol. 67(12), pages 7844-7865, December.
  58. Couture, Cody & Smit, Abhiprerna, 2025. "Stock returns of federal reserve officials," European Journal of Political Economy, Elsevier, vol. 90(PB).
  59. Dulat Shukayev, 2017. "Formalizing the investment selection process of the Development Bank of Kazakhstan," GATR Journals jfbr118, Global Academy of Training and Research (GATR) Enterprise.
  60. Zambrana, Rafael & Zapatero, Fernando, 2021. "A tale of two types: Generalists vs. specialists in asset management," Journal of Financial Economics, Elsevier, vol. 142(2), pages 844-861.
  61. Antoine Baena & Thomas Garcia, 2023. "Swing Pricing et dynamique des flux au regard de la crise Covid-19," Working papers 914, Banque de France.
  62. Hyoseok David Hwang, 2024. "Informed Trading of Sell-Side Analysts: Evidence from Class Action Lawsuits," Journal of Economic Analysis, Anser Press, vol. 3(3), pages 86-105, September.
  63. Veasna Khim & Hery Razafitombo, 2023. "Scale and skills in European active management: Impact of a new regulatory context," Post-Print hal-04197518, HAL.
  64. Ping Jiang & Xinjian Shao & Yi Xue, 2018. "Political Pressure or Rent Seeking? The Role of Mutual Funds in China's Split Share Structure Reform," Australian Economic Papers, Wiley Blackwell, vol. 57(3), pages 284-308, September.
  65. Chen, Fan & Sanger, Gary C. & Slovin, Myron B., 2013. "Asset sales in the mutual fund industry: Who gains?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4834-4849.
  66. Eliezer Fich & Viktoriya Lantushenko & Clemens Sialm, 2019. "Institutional Trading Around M&A Announcements," NBER Working Papers 25814, National Bureau of Economic Research, Inc.
  67. Robert M. Bushman & Abbie J. Smith & Regina Wittenberg‐Moerman, 2010. "Price Discovery and Dissemination of Private Information by Loan Syndicate Participants," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 48(5), pages 921-972, December.
  68. Andriy Bodnaruk & Marco Rossi, 2021. "Shareholders as Creditors of First Resort," Management Science, INFORMS, vol. 67(3), pages 1737-1757, March.
  69. Lin, Shu & Tian, Shu & Zheng, Lu, 2022. "Friend or foe: On a common shareholder relationship between mutual funds and public companies," Journal of Financial Markets, Elsevier, vol. 58(C).
  70. Golez, Benjamin & Marin, Jose M., 2015. "Price support by bank-affiliated mutual funds," Journal of Financial Economics, Elsevier, vol. 115(3), pages 614-638.
  71. Bagattini, Giulio & Fecht, Falko & Weber, Patrick, 2019. "The fire-sale channels of universal banks in the European sovereign debt crisis," Discussion Papers 43/2019, Deutsche Bundesbank.
  72. Witmer, Jonathan, 2016. "Does the buck stop here? A comparison of withdrawals from money market mutual funds with floating and constant share prices," Journal of Banking & Finance, Elsevier, vol. 66(C), pages 126-142.
  73. Kim, Jeong-Bon & Song, Byron Y. & Zhang, Yue, 2015. "Earnings performance of major customers and bank loan contracting with suppliers," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 384-398.
  74. Kim, Taeyeon & Hwang, Hyoseok (David) & Kim, Hyun-Dong, 2023. "Do local investors know more? Evidence from securities class actions," Journal of Banking & Finance, Elsevier, vol. 156(C).
  75. Diego P. Guisande & Maretno Agus Harjoto & Andreas G. F. Hoepner & Conall O’Sullivan, 2024. "Ethics and Banking: Do Banks Divest Their Kind?," Journal of Business Ethics, Springer, vol. 192(1), pages 191-223, June.
  76. Khim, Veasna & Razafitombo, Hery, 2023. "Scale and skills in European active management: Impact of a new regulatory context," Journal of Banking & Finance, Elsevier, vol. 154(C).
  77. Veasna Khim & Hery Razafitombo, 2015. "The Impact of UCITS IV Directive on European Mutual Funds Performance," Post-Print hal-01698550, HAL.
  78. Andreu, Laura & Gimeno, Ruth & Ortiz, Cristina, 2022. "Diversification and manager autonomy in fund families: Implications for investors," Research in International Business and Finance, Elsevier, vol. 60(C).
  79. Fernando Anjos & Cesare Fracassi, 2015. "Shopping for Information? Diversification and the Network of Industries," Management Science, INFORMS, vol. 61(1), pages 161-183, January.
  80. Pedersen, David J., 2021. "Do business ties generate private information? Evidence from institutional trading around M&A announcements," Finance Research Letters, Elsevier, vol. 38(C).
  81. Giorgio Albareto & Andrea Cardillo & Andrea Hamaui & Giuseppe Marinelli, 2020. "Mutual funds' performance: the role of distribution networks and bank affiliation," Temi di discussione (Economic working papers) 1272, Bank of Italy, Economic Research and International Relations Area.
  82. Falko Fecht & Andreas Hackethal & Yigitcan Karabulut, 2018. "Is Proprietary Trading Detrimental to Retail Investors?," Journal of Finance, American Finance Association, vol. 73(3), pages 1323-1361, June.
  83. Massa, Massimo & Zhang, Lei, 2015. "Fire Sales and Information Advantage: When Informed Investor Helps," CEPR Discussion Papers 10536, Centre for Economic Policy Research.
  84. Yang, Huan, 2021. "Institutional dual holdings and risk-shifting: Evidence from corporate innovation," Journal of Corporate Finance, Elsevier, vol. 70(C).
  85. Gus De Franco & Alexander Edwards & Scott Liao, 2021. "Product Market Peers in Lending," Management Science, INFORMS, vol. 67(3), pages 1876-1894, March.
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