This note reviews the literature on fund performance. A practical way of gauging market efficiency is to attempt to identify above-average risk-adjusted returns from one or more market participants that are the result of skill, as opposed to luck. If any such returns are identified, then the market is not efficient. In practice, such a test is best performed by seeking persistence in the return...

We study two distinct effects of local religions on organizational risk-taking: religious beliefs share a common aversion to pure risk but have diverging attitudes toward speculative risk. As predicted, we find that mutual fund managers’ speculative risk-taking behaviors vary with specific local religious beliefs – funds in low-Protestant (or high-Catholic) areas have higher return volatilities...

Since insuring agricultural products is one of the effective instruments for risk management in agricultural sector, it can reduce risk avoidance among farmers and increase their competence in using production factors and, consequently, increases their inclination towards investment in agricultural sectors. The purpose of the current study was to investigate the factors influencing policyholder...

We study managers who manage multiple mutual funds. Consistent with the idea that investors infer ability from past returns, flows into a fund are predicted by the past performance in another fund the multi-fund manager manages. The explanatory power of the other fund is stronger when it performed particularly well, when the two funds have similar styles, and when the manager has started managi...

this article elaborates on the role of the periodical fund of the national library named after m. f. akhundov in the development of the azerbaijani culture and science through a short survey of the funding history. the main goal of this article is to create a comprehensive historical scene of the periodical fund of this library which was established in the first half of the twentieth century an...

The study investigated the relationship between cooperative societies and financial intermediation efficiency in Ife east local government, Osun State, Nigeria. broad objective of this is to examine extent at which East Local Government achieved their role. specific objectives are total deposit credit Munislam Welfare Fund society investigate Al-Irshad welfare fund society.The used regression a...

Mutual fund providers serve two principals with opposing interests: their owners, who want them to maximize profits, and their fund shareholders, who want them to maximize fund returns. I investigate what role is played by customer power and information, as well as by competition among fund providers in influencing the balance of power between these two opposing principals. Using a data set of ...

This paper aims to contribute to the understanding of the factors that determine fundraising and investment in the private equity market in Europe. These are analysed separately, since the lags faced in this activity determine the existence of two separate markets. As a result, private equity institutions deal with different agents, namely investors (fundraising) and firms (investment), whose l...