Listar COFIN_Articles por autoría "aa521274-9a43-4888-baa8-dfea629bae04"
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Active Management and Mutual Fund Performance
Universidad de Zaragoza. Facultad de Ciencias Económicas (2018)This paper analyses the relationship between active management and performance in US equity mutual funds over the period 2001-2011 for both gross and net returns. Active management is measured by time-varying parameters, ... -
Cost and revenue efficiency in Spanish banking: What distributions show
Asociación Española de Contabilidad y Administración de Empresas, AECA (2016)The literature analysing the efficiency of financial institutions has evolved rapidly over the last 20 years. Most research has focused on the input side, analysing either cost, input technical efficiency or input allocative ...
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Costs, revenues and performance in Spanish banking:a comparative analysis of pre- and early crisis years
Taylor and Francis Group (2016-07-14)The literature analysing the efficiency of financial institutions has evolved rapidly over the last 20 years. Most research has focused on the input side, analysing either cost, input technical efficiency or input allocative ... -
Decentralization and efficiency of local government
Springer-Verlag (2010)This study analyzes the links between efficiency and the decentralization of power in Spanish local governments for the years 1995 and 2000. To this end, we carried out a two-stage activity analysis in which the performance ...
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Devolution dynamics of Spanish local government
Pion (2010)Over the last few years, there has been a devolutionary tendency in many devel- oped and developing countries. In this article we propose a methodology to decompose whether the benefits in terms of efficiency derived from ...
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Does active management add value? New evidence from a quantile regression approach
Taylor & Francis (2019-06)While it has long been recognised that active management is an important issue in the area of mutual fund performance, little consensus has been reached about the value managers’ abilities can add. This study examines ...
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La eficiencia de los municipios españoles durante el período de crisis
Asociación Española de Contabilidad y Administración de Empresas (2016)En este trabajo se analiza la eficiencia en costes de los gobiernos locales españoles durante el período de la crisis económica (2008-2012). Los resultados indican una mejora general de la eficiencia a lo largo del ...
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Environmental conditions, fund characteristics, and Islamic orientation: An analysis of mutual fund performance for the MENA region
Elsevier (2016-12)Islamic funds are increasingly seen as an alternative to conventional funds, in part due to the growing prominence of Islamic finance. In contrast to most previous literature, this paper focuses on the countries of the ...
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Ethical strategy focus and mutual fund management: Performance and persistence
Elsevier (2019-03)The aim of this study is to analyze whether managers, practitioners and individual investors could obtain higher risk-adjusted returns by allocating their investments to funds that integrate specific levels of socially ...
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Evaluating local government performance in times of crisis
Taylor and Francis Group (2019)In recent years, Spanish local governments have come under increasing pressure to accommodate severe economic restrictions while maintaining their provision of local public services. We analyse overall cost efficiency in ...
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Explaining local governments' cost efficiency: Controllable and uncontrollable factors
Elsevier (2020-05)Efficient and effective management of public resources is essential at all levels of government. This issue has gained momentum due to the strains that affected public sector finances after the onset of the 2007/08 crisis ...
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Is Ethical Money Sensitive to Past Returns? The Case of Portfolio Constraints and Persistence in Islamic Funds
Springer Verlag (2017-06)In this paper, we analyze the performance persistence and survivorship bias of Islamic funds. The remarkable growth of these types of ethical funds raises the question of how non-financial attributes, including beliefs and ...
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Local governments' re-election and its determinants: New evidence based on a Bayesian approach
Elsevier (2015)We analyzed the effect of public spending on the probability of re-election of Spanish local governments during the 2000–2007 period using Bayesian techniques. Although the literature on political budget cycles is now ...
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Looking for sustainable development: Socially responsible mutual funds and the low‐carbon economy
John Wiley and Sons (2020)Sustainable investment responds to demands for carbon and climate‐neutral societies. To address the urgency around climate change and provide investors with more qualified information, Morningstar has developed the Low ...
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Mutual fund performance: banking versus independent managers
Taylor & Francis (2011-09-09)We examine the performance of mutual fund managers for a sample of Spanish mutual funds considering data on active management, loads, size and the number of funds managed per manager. We find evidence of differences in ...
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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 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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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 ...
