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dc.contributor.authorMehri, Meryem
dc.date.accessioned2014-07-22T14:54:55Z
dc.date.available2014-07-22T14:54:55Z
dc.date.issued2014-06
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/13772
dc.language.isoenen
dc.subjectRisqueen
dc.subjectSociétés d'investissementen
dc.subjectRisque politiqueen
dc.subjectContrats incitatifsen
dc.subjectPerformanceen
dc.subjectRisken
dc.subjectManagerial Compensationen
dc.subjectIncentive Contractsen
dc.subjectMutual fundsen
dc.subjectLaw and financeen
dc.subjectPolitical risken
dc.subject.ddc332en
dc.subject.classificationjelK29en
dc.subject.classificationjelG23en
dc.subject.classificationjelG24en
dc.titleDifferential Effects of Law, Culture and Political Risk on Performance and Risk-taking Behavior of Fund Managersen
dc.typeCommunication / Conférence
dc.description.abstractenThis paper considers an international sample of conventional and Islamic mutual funds to assess whether law, culture, and political risk affect the performance and risk-taking behavior of mutual funds. Overall, the results show strongly that legal conditions, culture, and political risk have robust differential effects on performance and risk-taking behavior of Islamic and conventional funds. We find that Islamic and conventional funds in developing countries with lower legal conditions, higher corruption and political risk have higher performance. Likewise, in such conditions, both of Islamic and conventional funds have lower return volatility and systematic risk. Overall, Hoefsted culture's values affect significantly the performance and risk-taking behavior of fund managers with robust differential effects between Islamic and conventional funds. The components of country legality and political risk Index have significant differential effects between Islamic and conventional funds. Overall, the data show the fund manager characteristics (experience, qualifications, etc) and specific fund features matter for the performance and risk-taking behavior of fund managers.en
dc.identifier.citationpages63en
dc.subject.ddclabelEconomie financièreen
dc.relation.conftitle23rd Annual Meeting of the European Financial Management Association - EFMA 2014 Annual Conferenceen
dc.relation.confdate2014-06
dc.relation.confcityRomeen
dc.relation.confcountryItalieen
dc.relation.forthcomingnonen


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