Almost one-third of actively managed, diversified U.S. equity mutual funds specify a size and value/growth benchmark index in the fund prospectus that does not match the fund’s actual style. Nevertheless, these ‘‘mismatched’’ benchmarks matter to fund investors. Performance relative to the specified benchmark is a significant determinant of a fund’s subsequent cash inflows, even controlling for...

cash is a critical source for business enterprises and creating balance between available cash and the required cash is the most important factor concerning the economic viability of a business enterprise. both of the companies that do not hold enough cash or hold too much cash, face too much problems. this paper investigates the impact of deviation from the estimated optimal cash level on firm...

the purpose of this study is to investigate the relationshipbetween the mutual funds flows and the return of stock index using 65mutual funds in the period of 2008 to 2011.in this study, the dailychanges of the total number of units of mutual funds and the changesof the total values of units of mutual funds were considered as acriteria for the net of mutual funds flows. the results of johansen ...

Currently, the use of cash payments in economy is an undesirable element since it basis for shadow development. The willingness Russian Federation Government to switch non-cash has reason. implementation many state programs depends on development, especially developing regions. Non-cash allow take control movement funds, as well assess its origin. Moreover, they contribute growth tax revenues b...

T HE first major social security program in southeast Asia came into operation in India on February 24, 1952. The program, which was initiated on a limited basis, will cover about 2.5 million factory employees when it comes into operation throughout the major industrial centers by January 1955. The Employees’ State Insurance Act, which established the program, provides for medical services, con...

Immigration has been of economic and social benefit to Australia, rather than a drain on public funds – the latter being a characterisation which is popular around migrant intakes (Tazreiter, 2004, 129), thus raising questions about the basis for hostility towards these refugees. All but the first wave of boat arrivals, often from developing countries, have been subject to mandatory and non-rev...

The high flow-performance sensitivity of open-end municipal bond funds motivates fund managers to actively manage funding liquidity risk and reduce the costs flow-driven transactions. We show that families use closed-end provide distressed by coordinating cross-trading through internal markets. Larger national funds, with lower cash holdings, more flexible agency policies engage in liquidity-dr...

It now appears that coincident to this Conference, or a few days thereafter, a statute creating a Commission on Electronic Funds Transfer will have been adopted by the Congress. That statute will contain an agenda of public interest considerations the Commission shall take into account in its study of electronic transfer systems. The agenda set forth in the Act specifies several areas of potent...

The purpose of this study was to determine the management and accounting treatment petty cash on CV. Min Java Farm. This research is located at Bukit Apit, Kenagarian Sungai Talang, Guguak District, 50 City Regency, West Sumatra. conducted by direct observation using interview documentation techniques. data analysis technique used in descriptive qualitative, results show are going well accordan...