We present evidence that insured deposit financing shields banks from the full costs of
market discipline. Moody's downgrades, indicators of increasing risk, are associated with …

We examine portfolio credit quality holding and daily return patterns in a large sample of
bond mutual funds and document evidence of window dressing. Using portfolio credit quality …

Recent academic research has ascribed the intermediate-term (3-month to 12-month)
momentum present in US stock returns to an industry effect. In the intermediate term, strong (weak) …

I decompose net flows into purchase and redemption rates for a sample of equity funds. I
find a strong relation between purchase rates and redemption rates indicating a significant …

We examine how the relation between mutual fund performance and fund flows has
changed over time by separating our sample into two periods (1978–87 and 1988–97). We …

The success of some invasive tree species is attributed, in part, to high fecundity in the form
of sexual propagules. If invasive trees produce more seed annually than co-occurring native …

… Morningstar publishes data only on existing funds. Some funds, however, especially poor
performers, ceased to exist during the period and thus do not show up in the database. Just as …

The brokerage commissions paid for portfolio transactions by a large sample of equity mutual
funds are investigated. Median brokerage commissions measured as a percentage of net …

Many individuals purchase shares in mutual funds as investments. With a lack of evidence
supporting performance persistence in fund returns, investors should consider expenses as a …

Verticillium wilt, caused by Verticillium nonalfalfae, is currently killing tens of thousands of
highly invasive Ailanthus altissima trees within the forests in Pennsylvania, Ohio, and Virginia …