haku: @author Gemmill, G. / yhteensä: 8
viite: 1 / 8
« edellinen | seuraava »
| Tekijä: | Gemmill, G. Thomas, D.C. |
| Otsikko: | The impact of corporate governance on closed-end funds |
| Lehti: | European Financial Management
2006 : NOV, VOL. 12:5, p. 725-746 |
| Asiasana: | corporate governance finance funds management United Kingdom |
| Kieli: | eng |
| Tiivistelmä: | Using a large sample of UK-listed closed-end funds, this paper examines whether governance has an impact on two indicators of fund performance: 1. the level of fund-management fees and 2. the discount at which a fund trades. Among others, it is found that fees are inversely related to fund returns, even after allowing for differences across investment sectors. On average, fees are higher if a fund has a large board, few directors (here as: dirs.) from outside the fund-family (as: f-f.), many dirs. from within the f-f., and low ownership by the management company. |
« edellinen | seuraava »
SCIMA