Determinants of non-compliant equity funds with EU portfolio concentration limits

IF 2.9 3区经济学 Q2 BUSINESS, FINANCE Journal of Multinational Financial Management Pub Date : 2021-12-01 DOI:10.1016/j.mulfin.2021.100707

Lidia Loban, José Luis Sarto, Luis Vicente

引用次数: 0

Abstract

This study identifies the determinants of domestic equity funds that fail to comply with the portfolio concentration limits of the EU Directive 2009/65/EC. This study also determines the characteristics of the stocks subject to these non-compliant portfolios. The empirical application to a comprehensive sample of domestic equity funds registered in the Eurozone provides significant information that can help to improve market supervision in terms of investors’ protection.

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不符合欧盟投资组合集中度限制的股票基金的决定因素

本研究确定了国内股票基金不符合欧盟指令2009/65/EC的投资组合集中度限制的决定因素。本研究还确定了受这些不合规投资组合影响的股票的特征。通过对在欧元区注册的国内股票基金的综合样本进行实证应用，可以从投资者保护方面为完善市场监管提供重要信息。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Multinational Financial Management BUSINESS, FINANCE-

CiteScore

7.30

自引率

4.80%

发文量

审稿时长

30 days

期刊介绍： International trade, financing and investments have grown at an extremely rapid pace in recent years, and the operations of corporations have become increasingly multinationalized. Corporate executives buying and selling goods and services, and making financing and investment decisions across national boundaries, have developed policies and procedures for managing cash flows denominated in foreign currencies. These policies and procedures, and the related managerial actions of executives, change as new relevant information becomes available. The purpose of the Journal of Multinational Financial Management is to publish rigorous, original articles dealing with the management of the multinational enterprise. Theoretical, conceptual, and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • Foreign exchange risk management • International capital budgeting • Forecasting exchange rates • Foreign direct investment • Hedging strategies • Cost of capital • Managing transaction exposure • Political risk assessment • International working capital management • International financial planning • International tax management • International diversification • Transfer pricing strategies • International liability management • International mergers.

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