scholarly journals The Underperformance of Acquiring Mutual Funds: A Re-Examination of a Puzzle

2021 ◽  
Vol 13 (7) ◽  
pp. 77
Author(s):  
Manel Kammoun ◽  
Djerry C. Tandja M.
Keyword(s):  
Board Of Directors ◽  
Mutual Funds ◽  
Management Structure ◽  
Acquisition Period ◽  
The U.S

This paper studies the performance of Canadian acquiring mutual funds in the post-acquisition period by using 339 acquisitions during the period of 2008-2015. Contrary to the facts reported in studies in the U.S., we find that, for within-family mergers, the performance and the size of acquiring funds increase after the merger. Overall, our results suggest that the within-family merger of Canadian mutual funds is a win-win scenario for participating funds, as acquiring and target funds’ performance increases after the merger. Our results are consistent with a model where board of directors of merging funds are able to select value-enhancing acquisition opportunities, as they hold, due to the management structure of Canadian mutual funds, superior information about within-family target funds.

The Internationalization of New High-Potential U.S. Ventures: Antecedents and Outcomes

1996 ◽  
Vol 20 (4) ◽  
pp. 61-76 ◽  
Author(s):  
James M. Bloodgood ◽  
Harry J. Sapienza ◽  
James G. Almeida
Keyword(s):  
Competitive Advantage ◽  
Board Of Directors ◽  
Product Differentiation ◽  
Work Experience ◽  
Low Cost ◽  
High Potential ◽  
Sales Growth ◽  
International Work ◽  
The Board Of Directors ◽  
The U.S

This study examined the antecedents and outcomes of the internationalization of 61 new high-potential ventures in the U.S. The results indicate that internationalization is directly related to the use of product differentiation as a source of competitive advantage, the international work experience of the board of directors, and size at the point of the IPO. The use of low cost, product differentiation, or innovation as a source of competitive advantage, and size at the point of the IPO were directly related to sales growth in the two-year period following the IPO. Finally, the level of Internationalization at the time of the IPO is positively related to earnings two years later.

Boards of Directors in Italian Family Businesses

1996 ◽  
Vol 9 (4) ◽  
pp. 403-421 ◽  
Author(s):  
Guido Corbetta ◽  
Salvatore Tomaselli
Keyword(s):  
Board Of Directors ◽  
Boards Of Directors ◽  
Family Businesses ◽  
Research Project ◽  
Italian Family ◽  
Early Results ◽  
The Board Of Directors ◽  
The U.S ◽  
International Research Project

This paper presents some of the early results of an international research project conducted in Italy and coordinated by Prof. Miguel Angel Gallo. The research project involved Spain, Portugal, Italy, Brazil, Argentina, and the U.S. The authors of this paper are responsible for the Italian part of the project. The project aims to further the understanding of the role of the board of directors in family businesses, and how the board functions.

scholarly journals Mutual Funds and the U.S. Equity Market

2000 ◽  
Vol 86 (12) ◽  
pp. 0-0
Author(s):  
Eric M. Engen ◽  
◽  
Andreas Lehnert
Keyword(s):  
Mutual Funds ◽  
Equity Market ◽  
The U.S

AN 1870 CORPORATE AUDIT COMMITTEE

1979 ◽  
Vol 6 (2) ◽  
pp. 61-68 ◽  
Author(s):  
Thomas E. McKee
Keyword(s):  
Nineteenth Century ◽  
Board Of Directors ◽  
Audit Committee ◽  
Financial Information ◽  
Audit Committees ◽  
Common Goal ◽  
Accounting Profession ◽  
Public Accounting ◽  
Financial Reports ◽  
The U.S

Board of directors' audit committees are becoming an increasingly popular vehicle for enhancing the objectivity and independence of auditors and overseeing the financial information generating process. This is occurring at a time when directors and auditors are facing criticism and increased litigation due to corporate failures and disclosures of illegal or questionable payments. This article examines the workings of a corporate audit committee that operated in the mid-nineteenth century. The committee functioned as “auditor” for the company since there was no established public accounting profession in the U.S. at that time. They disentangled the financial affairs of the company and probably directly contributed to the replacement of the President of the company. Although the activities of corporate audit committees have changed or evolved considerably through the years, both the 1870 corporate audit committee and modern corporate audit committees have pursued a common goal of achieving accuracy and completeness in corporate financial reports.

scholarly journals Evolving American Investing Attitudes: The Hybrid Shift In Mutual Fund Distribution

2012 ◽  
Vol 10 (11) ◽  
pp. 613 ◽  
Author(s):  
Brian D. Fitzpatrick ◽  
Ethan McWilliams ◽  
David B. Vicknair
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Financial Planning ◽  
Human Mind ◽  
Third Party ◽  
Distribution Model ◽  
The Past ◽  
New Methods ◽  
The U.S ◽  
The Way

This paper studies the dramatic evolution in the way American investors choose to invest in the mutual fund industry. The industrys change from direct-to-shareholder model to a third-party distribution model is discussed, as well as the implications for future mutual fund investors. Ever since the first recorded asset and debt managers arose in the 14th and 15th centuries in Europe, investing has grown into a tug-and-pull type of system that the human mind seems drawn to. The way that Americans choose to invest their money is changing as we enter the 21st century and the new methods and procedures are having a greater impact than many of us realize. In the U.S., trillions of dollars each year are invested in mutual funds, but more and more investors are taking a less-involved route by allowing financial analysts to choose where their money is invested. In the following pages, we will take a closer look at the mutual fund market and its basic components, the ways that mutual funds have been viewed and traded in the past, and the revolutionary changes that are happening right under our noses that the average American may not even be aware of. With the help of many credible sources, such as the Investment Company Institute, Reflow Investments LLC, and the Financial Planning Journal, the change from direct-to-shareholder mutual fund distribution to third-party intermediary distribution will be explained and the effects these changes has on the average investor will be explored.

Measures of the Effectiveness and Efficiency of IT Supply

2002 ◽  
pp. 93-114
Author(s):  
Han van der Zee
Keyword(s):  
Financial Reporting ◽  
It Management ◽  
It Strategy ◽  
Business Unit ◽  
Management Structure ◽  
Business Units ◽  
Corporate Information Systems ◽  
Corporate Information ◽  
Reporting Data ◽  
The U.S

The majority of companies, in both the U.S. and Europe, have adopted some kind of federal IT management structure. The federal IT management structure features devolved responsibility for IT to business units; the development of IT architectures for the business unit and derivation of business unit IT plans is an activity of each business unit. However, some form of corporate functional leadership for IT strategy and guidance of business units is held centralized to enable group-wide coherence in corporate information systems (e.g., financial reporting), data, computers, networks, operating software, etc. This is essential for internal coordination and communication within the corporation and, increasingly, with suppliers and customers.

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