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Autores
Orientador(es)
Resumo(s)
In this paper, using a unique database, we compare the performance of a set of equity
mutual funds to a set of equity savings funds, which are similar to equity mutual funds
in all but one characteristic: the tax regime that strongly penalizes withdrawals from
equity savings funds. We found evidence consistent with the hypothesis that mutual
funds less subject to liquidity shocks exhibit higher performances.
Descrição
Palavras-chave
Mutual fund performance Withdrawals liquidity shocks Fiscal policy
Contexto Educativo
Citação
Alves, Carlos; Mouta, Helena (2012). Mutual funds withdraw shield: performance or agency costs driver? Economics and Business Letters. ISSN 2254-4380. 1(1), p. 30-34