Price support by bank-affiliated mutual funds

Golez, Benjamin; Marin, Jose M.

Price support by bank-affiliated mutual funds

Autor(es): Golez, Benjamin; Marin, Jose M.

Editorial: Elsevier

Fecha de edición: 2015-03

Cita: Goleza, Benjamin; Marin, Jose M. (2015). Price support by bank-affiliated mutual funds. Journal of Financial Economics, v. 115, n. 3, pp. 614–638

ISSN: 0304-405X

DOI: 10.1016/j.jfineco.2014.10.008

Agradecimientos: Both authors acknowledge Financial support from the Spanish Ministry of the Economy and Competitiveness (MEC Grant ECO2012-39423)

Versión del editor: http://dx.doi.org/10.1016/j.jfineco.2014.10.008

Proyecto: Gobierno de España. ECO2012-39423

Palabras clave: Price support , Conflict of interests , Mutual funds , Banks , Secondary offerings

URI: http://hdl.handle.net/10016/21704

Derechos: © Elsevier
Atribución-NoComercial-SinDerivadas 3.0 España

Resumen:

Fund managers are double agents; they serve both fund investors and owners of management firms. This conflict of interest may result in trading to support securities prices. Tests of this hypothesis in the Spanish mutual fund industry indicate that bank-affili [+]

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