Macro Attractiveness and Micro Decisions in the Mutual Fund by Gunnar Lang

By Gunnar Lang

This quantity addresses the popularity of economic facilities with a chief concentrate on the mutual fund undefined. It makes use of varied empirical research techniques in an try to disentangle the explanations for situation popularity and with a view to determine its impact on fund pricing. The provided study tackles a subject matter that's primary to the certainty of organizational habit in finance – the explanation within the decision-making technique of marketplace individuals and its results for an economy.

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Their estimate is based on the capital cost reduction for firms and households resulting from cheaper equity, bond, and bank financing due to increased market liquidity, among other factors. , 2003). Heinemann et al. (2003) support the expectation of higher growth resulting from the integration of the retail financial market owing to an improved allocation of capital. However, the report also points out obstacles to integration, for instance the consumers’ preference for national suppliers, tax discrimination against foreign firms, and differences in regulation with respect to registration, consumer protection, and marketing.

According to Leibenstein (1950), the more market participants are expected to (informally) prefer a particular practice or service, the more attractive it becomes. To prevent uncertainty about the correct decision, market participants feel rewarded when others are likely to prefer the same. Adopting the mainstream mindset is related to seeking legitimacy and signaling. , 2008). Overall, the effects of path dependence have far-reaching consequences not just for the institution itself, but also for the social environment shared with other institutions (in the cluster) and for the (fiscal) government.

Some of the competitive advantages of Frankfurt over Paris are market size, market liquidity, human capital, and its trading system (forward market). Paris has advantages over Frankfurt in terms of the legal structure of listed companies. Frankfurt also has a relative competitive advantage over Tokyo. In 1999, Harrschar-Ehrnborg (2002) asked 62 bank representatives in Frankfurt, Paris, and London for essential location factors, deducing strengths and weaknesses of the individual financial centers.

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