We examine pure no-load funds over a 5-year period. For equity funds, trading activity is negatively related to returns. Expense ratios are not significantly related to returns. Potential capital gains exposure and tax cost ratio are positively related to return. For fixed income funds, trading activity is positively related to return. Expense ratios and tax cost ratios are negatively related t...

We provide a model for a futures clearinghouse to use for setting optimal levels of clearing margin, capital and price limits, which minimizes the costs to clearing firms and simultaneously protects the clearinghouse from default by clearing firms. We show how to estimate the capital requirement, which supports the clearinghouse s residual default risk that is not covered by the clearing margin...

In this paper, by employing the Generalized Method of Moment (GMM) techniques and Chinese provincial level data from 1991 to 2003, we empirically investigate the relationship between finance and growth in post-reform China. We find that financial development significantly promotes economic growth in coastal regions but not in inland regions; the weak finance-growth nexus in inland provinces has...

This paper examines the relationship between household income shocks and child labor. In particular, we investigate the extent to which transitory income shocks lead to increases in child labor and whether household asset holdings mitigate the effects of these shocks. Using data from a household panel survey in Tanzania, we find that both relationships are significant. We investigate mechanisms...

This paper addresses how financial development affects product quality and firmlevel exports depending on the firm’s productivity. To this goal, I propose a heterogeneous firms model with endogenous quality, credit constraints and heterogeneous productivity of a firm. I show theoretically and confirm empirically that lower financial constraints result in higher-quality output and higher exports...

We study the relationship between banks’ size and risk-taking in context of supranational banking supervision. Consistently with theoretical work on unions contrast to analyses emphasising incentives underpinned by too-big-to-fail effect, we find an inverse non-performing loan growth for a sample European banks. Evidence is provided that mechanism operates through enhanced organisational effici...

Korean credit :::union:::s (CUs) are considered to be a hidden contributor to the “Korean miracle”, characterized by remarkable economic growth and relatively low income inequality. The Korean miracle not only generated wealth in an economically strapped and socially under-privileged people, but also contributed to regional community development and the democratization of Korean society. In...

The paper describes the mitigating effect of self-help groups in India during and post covid-19 situation. study examines potential opportunities challenges concerning contextual differences across within countries. Self-help group has been important empowering its members by providing for livelihood support income generator played a very role situation as half SHG was involved community awaren...

Macro-prudential authorities need to assess medium-term downside risks the real economy, caused by severe financial shocks. Before activating policy measures, they also consider their short-term negative impact. This gives rise a risk management problem, an inter-temporal trade-off between expected growth and risk. Predictive distributions are estimated with structural quantile vector autoregre...

In stock markets, information plays a crucial role in determining trading dynamics and price discovery. the investment decisions, an investor may have incomplete regarding firm-specific factors because of asymmetry. Therefore, investors rely on market factors. Extensive work has been done synchronicity (SYNCH) from dual banking system viewpoint. present study examines association Stock Price Sy...