Listar COFIN_Articles por título
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On causality in the size-efficiency relationship: the effect of investor cash flows on the mutual fund industry
(2010-12-14)One of the perceived advantages in mutual fund management is the presence of economies of scale resulting from fund size. This article analyses the impact of mutual fund cash flows on the relation between size and performance, ... -
On management risk and price in the mutual fund industry: style and performance distribution analysis
Palgrave Macmillan (2021-06-01)This study shows how investing in mutual funds involves an additional risk, which we call management risk as a consequence of the uncertainty in the results of active management. To address this issue, we analyze a sample ... -
On the comparative performance of socially responsible and islamic mutual funds
Elsevier (2013-07)This is the first study to provide comprehensive analyses of the relative performance of both socially responsible investment (SRI) and Islamic mutual funds. The analysis proceeds in two stages. In the first, the performance ...
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On the compensation for illiquidity in sovereign credit markets
Elsevier (2015-03)This article analyzes the role of liquidity in the sovereign credit default swap (CDS) market. We employ a continuous-time specification to incorporate illiquidity as an additional pricing factor of default swap contracts ...
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On the determinants of local government debt: Does one size fit all?
Taylor & Francis (2016)This paper analyzes the factors that directly influence levels of debt in Spanish local governments. Specifically, the main objective is to find out the extent to which indebtedness is originated by controllable factors ...
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On the robustness of persistence in mutual fund performance
Elsevier (2016)This paper analyzes persistence in US equity mutual fund performance over the period 1990–2015. We apply commonly used measures of persistence, which we test using a set of simulated passive funds. In the first stage we ...
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On the stationarity of futures hedge ratios
Springer (2020-09-30)Stationarity of hedge ratios can be viewed as a frst step for portfolio hedging since it represents that the sensitivity of spot and Future returns follow a process whose main characteristics do not depend on time. ...
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Opinion-shopping: firm versus partner-level evidence
Routledge (2021)Employing Lennox’s (2000) methodology on a uniquely long time series of Spanish companies’ data, we find evidence of successful audit opinion-shopping through the firm switching decision. However, in contrast to Chen et ...
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Optimal Beats Naive Diversification: Asset Allocation Using High-Frequency Data
Pageant Media Ltd (2020-09-20)This article evaluates the usefulness of high-frequency data in optimal portfolio choice. The authors use a comprehensive list of major stock indexes and different frequencies of observations. Furthermore, they consider ...
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Output complexity, environmental conditions, and the efficiency of municipalities
Springer US (2013)Over the last few years, many studies have analyzed the efficiency of local governments in different countries. An accurate definition of their output bundles—i.e., the services and facilities they provide to their ...
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Output complexity, environmental conditions, and the efficiency of municipalities: a robust approach
Instituto Valenciano de Investigaciones Económicas (2010)Over the last few years, many studies have analyzed the productive efficiency of local governments in different countries. An accurate definition of their output bundles -i.e., the services and facilities they provide to ...
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Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence
Wiley (2020-01-06)This study primarily purposes to empirically examine the impact of stakeholder engagement mechanism in the form of professional shareholders on the corporate social responsibility (hereafter CSR) disclosure and how the ...
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El papel del Consejo de Administración en la creación de valor en la empresa
Asociación Española de Profesores Universitarios de Contabilidad (2014-05)The aim of this paper is to analyse whether the Board of Directors of Spanish listed companies influence their performance. Several hypotheses are putforward to determine the relationship between the percentage of independent ...
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Performance of Ethical Mutual Funds in Spain: Sacrifice or Premium?
Springer Netherlands (2008-08)There is currently much debate in the economic literature about whether ethical investment involves a financial sacrifice or premium. One of the most common methods of testing this compares the financial performance of ...
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Política presupuestaria y elecciones
Órganos Autonómicos de Control Externo (2013-07)El carácter cíclico de las elecciones ha originado el estudio del efecto que esta periodicidad puede ejercer sobre la política fiscal de los gobiernos, surgiendo así el análisis del Ciclo Político Presupuestario (CPP). ...
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Predicción del fracaso empresarial en los sectores de construcción e inmobiliario: Modelos generales versus específicos
Universia (2013-07)This paper looks at the advantages of industry-focused versus general models to better predict corporate failure. The results confirm that profitability, stock turnover, leverage, liquidity, size, business growth, age, and ...
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Pricing factors in multiple-term structures from interbank
Elsevier (2019-03)This article analyzes the reward for the risk embedded in interbank derivatives, seeking to characterize the size and economic sources of the components of this risk premium in interbank spread quotes. The basis swap (BS) ...
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Quality of government and economic growth at the municipal level: Evidence from Spain
Wiley (2021-07-21)This paper analyzes the relationship between government efficiency—an important dimension of quality of government—and economic growth at the municipal level in 1,820 Spanish municipalities during the period 2008–2015. At ...
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Rating the Raters: Evaluating how ESG Rating Agencies Integrate Sustainability Principles
MDPI (2019)Environmental, social, and governance (ESG) rating agencies, acting as relevant financial market actors, should take a stand on working towards achieving a more sustainable development. In this context, the objective of ...
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Re-examining the risk-return relationship in Europe: Linear or non-linear trade-off?
(2015-07-02)This paper analyzes the risk–return trade-off in Europe using recent data from 11 European stock markets. After relaxing the linear assumptions in the risk–return relationship by introducing a new approach that considers ...
