Wyniki wyszukiwania - BazEkon

1

Moda na mieszane

100%

Lach A.

Gazeta Bankowa

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2003

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nr 45

26

Wszystko wskazuje na to, że fundusze mieszane staną się kolejnym etapem edukacji polskich inwestorów.

2

Composition of Equity and Mixed Pension Funds in Slovakia

84%

Papík M.

Oeconomia Copernicana

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2017

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8

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nr 1

51-64

Research background: Since January 2013, pension fund management companies have had to establish at least two pension funds, one guaranteed bond fund, and at least one unguaranteed equity fund. This division has brought many changes in portfolios of pension funds in Slovakia. Currently, six pension funds management companies manage six bonds, six equity, five indexed and three mixed funds. Purpose of the article: The aim of this article is to monitor the composition of assets during 2009 and 2014 and describe relation between equity and mixed pension funds' profit and components of assets they own. The results of this research contribute to a better understanding of the importance of certain types of financial assets owned by equity and mixed funds and their impact on pension funds' profit. Last, but not least, this article helps to improve the legislative management of pension funds and their impact on macroeconomic situation in Slovakia, because pension funds are still concentrating higher and higher amount of financial assets from government bonds to companies' stocks. Methods: This relation will be described by linear mixed-effects model with random effects of years and pension funds management companies. Random effects also help to identify the impact of changes during the period studied, and in case that profit is significantly different across the pension funds management companies. Findings and Value added: The underlying model data will be chosen from annual balance sheets, income statements and notes of Slovakia-based equity and mixed funds during the period studied. (original abstract)

3

Nie wszyscy zyskują

84%

Wilkanowicz Ł.

Gazeta Bankowa

|

2004

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nr 50

16

Listopad, 2004-ego roku, był pierwszym od ponad pół roku miesiącem, w którym nastąpił zdecydowany przyrost aktywów w zarzadzaniu towarzystw funduszy inwestycyjnych. Zwiększyły się one o 1,3 miliarda złotych. Artykuł przedstawia udziały rynkowe największych towarzystw funduszy inwestycyjnych.

4

Can Mandatory Dividend Policy Reduce the Agency Cost of Listed Companies? Model Analysis and Empirical Test in China

84%

Hailin Q., Jingxu Z.

Copernican Journal of Finance & Accounting

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2019

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8

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nr 1

59-100

In this research, the mixed strategy complete information static game was adopted to explain the effect of mandatory dividend policy on agency cost, and Chinese mandatory dividend policy introduced in 2011was regarded as the institutional background, and whether mandatory dividend policy can reduce the agency cost of listed companies as an accidental impact was studied. Empirical test indicates that mandatory dividend policy significantly inhibits the agency cost of enterprises. Further research finds that the mandatory dividend policy has a better effect on reducing agency costs for the companies listed on the main board and those with normal dividends, while it has no significant effect on restraining agency costs for the companies with micro-dividends and small and medium-sized boards. The study supports the dividend agency cost theory and provides empirical evidence for the regulating departments to improve the follow-up policy of capital market governance.(original abstract)

5

Evaluating Investment Fund Performance in Portugal

84%

Amaral F., Reis P.

Business and Economic Horizons

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2019

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vol. 15, iss. 2

187-204

The investment fund market has not only attracted increasing interest from investors seeking alternative investments but has also become increasingly important among professionals and academics. Within this framework, this study seeks to contribute to the research developed through identifying the inducers of investment fund performance in Portugal. The sample consists of 78 funds, covering the timeframe from 2006 to 2016, incorporating stock funds, bond funds, mixed funds and treasury funds analysed in accordance with the panel data methodology. This work finds variables such as risk, rotation, size, age, interest rates, commissions and benchmarks as highly significant determinants of mutual fund performance and when followed by mutual fund managers, may enhance their returns. The originality and value of the work stands on completing certain gaps and deepen knowledge about the Portuguese market, carrying out additional research on the funds marketed in Portugal, focusing on a more diversified asset market, expanding both the number of funds under study and the sampling period while seeking to identify the most relevant factors for performance and how they condition it. The main limitation of this study stems from the difficulties of collecting information due to limitations imposed by current data protection legislation, which restricted both the scope and the depth of analysis. When choosing the Portuguese context, we face constraints in comparison with studies made in more developed contexts where this theme has been studied for a longer period of time. (original abstract)