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| Tekijä: | Houge, T. Wellman, J. |
| Otsikko: | Fallout from the mutual fund trading scandal |
| Lehti: | Journal of Business Ethics
2005 : DEC I, VOL 62:2, p. 129-139 |
| Asiasana: | trading ethics professional ethics authority investors investment trusts value-in-use pricing asset management asset valuation |
| Vapaa asiasana: | mutual funds trading abuse |
| Kieli: | eng |
| Tiivistelmä: | Many mutual fund companies have recently been accused of allowing some investors to profit from short-term trading schemes at the expense of others. This article examines the investor reaction to these allegations by measuring assets under management, stock returns and performance. Mutual funds managed bu accused firms demonstrate a significant decline in post-announcement assets under management, and experience substantial negative announcement-period returns. The paper also presents several policy suggestions to prevent future trading abuses and provides direction for future research. |
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