English, Article edition: Investors' response to mutual fund company mergers David E. Allen; Jerry T. Parwada

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/8956
Physical Description
  • article
Language
  • English

Edition details

Title
  • Investors' response to mutual fund company mergers
Author
  • David E. Allen
  • Jerry T. Parwada
Physical Description
  • article
Notes
  • Purpose – This paper aims to examine mutual fund investors' response to mergers of Australian mutual fund companies. Design/​methodology/​approach – Two matching-control techniques are employed to analyse the impact of mergers on excess money in and out of open and closed funds involved in the transactions. The paper employs cross-sectional regression analyses to examine the impact of mergers on different types of parties to mergers. Findings – The results suggest that mergers are not accompanied by increased money flows. Instead investors withdraw from the target funds prior to and after the merger. Funds belonging to specialist mutual fund companies record more gains in assets under management than declines following mergers, and that money inflow gains at competing funds induce reductions of management expense ratios at target funds. Research limitations/​implications – This paper studies mergers in only one industry in a single country. Future studies may extend to other industries and economies. Originality/​value – This paper extends prior research on the flow effects of mergers at individual fund level by considering the issue at the corporate level.
  • Acquisitions and mergers, Australia, Investment funds, Investors
  • RePEc:eme:ijmfpp:v:2:y:2006:i:2:p:121-135
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment