We investigate the occurrence of greenwashing in the US mutual fund industry. Using panel regression methods, we test whether there exist differences in the portfolio investment behaviors of active equity funds that are self-declared to be driven by ESG motives when compared to all other funds....

Der Siegeszug von Indexfonds stellt eine Herausforderung für die Corporate Governance von Publikumsgesellschaften dar. Auf Basis umfangreicher eigener Datenauswertungen dokumentiert die Arbeit zunächst den Bedeutungsgewinn passiver Vermögensverwalter in den Beteiligungsstrukturen....

Existing global ESG models are limited in terms of applicability and predictability, especially in countries with an unstable environment. On the other hand, utilizing internally made or privately sourced ESG models have caused issues relating to generalizability, comparability, and continuity....

The presence of institutional investors in a firm's ownership structure is often associated with improved corporate governance practices and increased focus on long-term sustainable value creation. This study investigates whether the presence of institutional investors and a strong CSR...

Who controls the corporate ownership network in the automotive industry: owners, shareholders or financial institutions? Recent studies have suggested that corporate control of automotive firms is increasingly associated with banks, investment funds and other players in the financial system. In...

The current research aims to analyze the impact of institutional shareholding on the dividend payout policy of Islamic mutual funds in Pakistan and Malaysia. A sample of 185 Islamic funds, including 85 Pakistani and 100 Malaysian funds, is used for the analysis. The data for the analysis spans...

Purpose - This paper analyses whether the active management and the fundamentals of the pension fund allow products that beat their peers to be identified in terms of risk-adjusted performance. Design/methodology/approach - The sample is composed of all the pension funds active in the period...

This paper investigates the investment performance of Malaysian Islamic equity funds and a matching sample of conventional equity funds relative to their market benchmark. An integrated model is used to simultaneously capture the market timing and selectivity skills of fund managers. Our...

In this paper, I examine the flow and performance of mutual funds in Brazil and their portfolio allocations during the global financial crisis. First, I show that mutual funds exposed to deposits and securities issued by small banks suffered significant outflows, due to the increased risk...