This article examines some of the institutional conditions that facilitated the development of equity markets in Brazil. A critical factor was the addition to corporate bylaws of protections for investors, which enabled relatively large corporations in Brazil to attract investors in large numbers. By availing themselves of this strategy, the fi rms generated a relatively low concentration of ow...

Abstract The concept of mutual fund emerged in Netherlands in 18th century and introduced in India by Unit Trust of India in1960s. As the mutual fund industry provides an option of diversified investment structure with varying degree of risk, it was supposed to be the most lucrative market for Indian investors. It was believed that it will surely tap the savings of common man. But in practice i...

East African countries are trying to create or expand business activities by adopting outsourcing strategies. One of them is Uganda. The Ministry of ICT has given high priority to creating sound Business Process Outsourcing (BPO) policies in order to attract foreign investors. Furthermore, the faculty of Computing and Information Technology at the Makerere University in Kampala is focussing on ...

We examine the portfolio turnover of mutual funds from 29 countries across the world and for the period 1999 to 2004. Our results indicate that turnover in foreign securities is higher in the countries that are less developed, have less investor protection, have lower information disclosure standard, and are less familiar to the fund managers. The negative relationship between turnover in forei...

We study how investors re-allocate attention when the opportunity cost of acquiring information suddenly increases. Using intraday data for more than 750 stocks in 19 countries, we find that who are distracted by FIFA World Cup soccer matches shift away from firm-specific and global news. When movements stock markets large, pricing news reverts back to normal, but domestic keep being priced les...