scholarly journals Interfund Lending in Mutual Fund Families: Role of Internal Capital Markets

Author(s):  
Vikas Agarwal ◽  
Haibei Zhao
2016 ◽  
Vol 51 (2) ◽  
pp. 489-513 ◽  
Author(s):  
Ying Duan ◽  
Yawen Jiao

AbstractThis paper examines mutual fund families’ proxy voting records to analyze their choices between voting against management (“voice”) and voting with their feet (“exit”). Even though proxy voting is particularly conducive to governance through voice rather than exit, we provide evidence that both exit and voice are important governance mechanisms when Institutional Shareholder Services recommends voting against management. Funds with smaller ownership blocks and shorter investment horizons are more likely to exit, and funds are more likely to exit small, liquid firms with greater insider ownership.


2014 ◽  
Vol 14 (207) ◽  
pp. 1 ◽  
Author(s):  
Philippe Karam ◽  
Ouarda Merrouche ◽  
Moez Souissi ◽  
Rima Turk ◽  
◽  
...  

Sign in / Sign up

Export Citation Format

Share Document