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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 ...
Sudden changes in variance and time varying hedge ratios
(Elsevier, 2011-12)
This paper analyzes the influence of sudden changes in the unconditional volatility on the estimation and forecast of volatility and its impact on futures hedging strategies. We employ several multivariate GARCH models to ...
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, ...
Sector concentration risk: A model for estimating capital requirements
(Elsevier, 2011)
The 2004 Basel Committee on Banking Supervision Accord (known as Basel II) provides a common framework for banks to determine their minimum capitalrequirements for solvency purposes. For credit risk (the most important one ...
Sustainable development in the Spanish region of Valencia and the social responsibility of SMEs. A multi-stakeholder vision on the role of public administrations
(Taylor & Francis, 2010)
The complexity associated with the public and private management of sustainable development is causing the increasing involvement of various European Union governments in issues related to the social responsibility of ...
The decision to present comparative financial statements in a mandatory IFRS adoption setting
(Emerald, 2023-06-01)
Purpose:
This study analyzes the factors behind the decisions made by the largest listed Chilean companies that mandatorily adopted the International Financial Reporting Standards (IFRS) in 2009 to present comparative ...
The effects of the political environment on transparency: evidence from Spanish local governments
(Taylor and Francis Group, 2021)
This article analyzes the evolution of economic and financial transparency in Spanish local governments (LGs) and their determining factors. The main results show that the level of financial disclosure seems to be the ...
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 ...
Sustainable Developement and the Financial System: Society's Perceptions About Socially Responsible Investing
(Wiley, 2012-11)
The debate surrounding the financial needs of investors and the impact on society of investment is considered to be an important research topic due to the growth of socially responsible financial markets. The main objective ...
Countercyclical prudential buffers and bank risk-taking
(Elsevier, 2022-01-31)
We investigate the effects of countercyclical prudential buffers on bank risk-taking. We exploit the introduction of dynamic loan loss provisioning in Spain, mandating that banks use historical average loss rates in their ...