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class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 5502</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: fund distribution</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5502</span> Getting What You Paid For: Using Mutual Fund Governance to Predict the Activeness of Mutual Funds</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Matthew%20Morey">Matthew Morey</a>, <a href="https://publications.waset.org/abstracts/search?q=Aron%20Gottesman"> Aron Gottesman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the relationship between mutual fund governance and the activeness of equity mutual funds. Using a fund’s corporate culture as a proxy for its governance and controlling for other variables, we find that funds with the better governance are significantly more active than other funds. Further, we find the probability of finding a highly active fund increases significantly as the governance of the fund improves. We also find some evidence that the probability of finding a closet index fund increases as the governance of the fund declines. These results demonstrate that mutual fund governance should be considered carefully when making mutual fund investment decisions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=active" title="active">active</a>, <a href="https://publications.waset.org/abstracts/search?q=share" title=" share"> share</a>, <a href="https://publications.waset.org/abstracts/search?q=mutual%20funds" title=" mutual funds"> mutual funds</a>, <a href="https://publications.waset.org/abstracts/search?q=economics" title=" economics"> economics</a> </p> <a href="https://publications.waset.org/abstracts/18918/getting-what-you-paid-for-using-mutual-fund-governance-to-predict-the-activeness-of-mutual-funds" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/18918.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">342</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5501</span> Reallocation of Mutual Fund Managers and Capital Raising Ability</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yue%20Xu">Yue Xu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper establishes the fund manager’s capital raising ability as an important managerial skill that fund firms exploit to generate higher firm revenues. Fund firms reallocate fund managers with high capital raising ability to other funds with large outflows. Investors demand the capital raising ability of managers and reward it by investing more capital despite lower future alphas. A team with a larger experience difference between reallocated managers and existing managers attracts more capital inflows, suggesting that there is a synergy effect on the fund manager’s capital raising ability. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mutual%20fund" title="mutual fund">mutual fund</a>, <a href="https://publications.waset.org/abstracts/search?q=manager" title=" manager"> manager</a>, <a href="https://publications.waset.org/abstracts/search?q=fund%20firm" title=" fund firm"> fund firm</a>, <a href="https://publications.waset.org/abstracts/search?q=reallocation" title=" reallocation"> reallocation</a>, <a href="https://publications.waset.org/abstracts/search?q=revenue" title=" revenue"> revenue</a> </p> <a href="https://publications.waset.org/abstracts/162315/reallocation-of-mutual-fund-managers-and-capital-raising-ability" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/162315.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">74</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5500</span> Evaluating the Possibility of Expanding National Health Insurance Funding From Zakat, Sudan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fawzia%20Mohammed%20Idris">Fawzia Mohammed Idris</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Zakat is an Islamic procedure for wealth distribution as a social protection mechanism for needy people. This study aimed to assess the possibility to expand the share of fund for national health insurance fund from zakat funds allocated for poor people by measuring the reduction of poverty that result from the investing on direct payment to the needy or by covering them in social health insurance. This study used stata regression as a statistical analysis tool and the finding clarified that there is no significant relationship between the poverty rate as the main indicator and, the number of poor people covered by national health insurance on one hand and the number of benefits poor people from the distribution of zakat fund. This study experienced many difficulties regarding the quality and the consistency of the data. The study suggested that a joint mission between national health insurance fund and zakat chamber to conduct study to assess the efficient use of zakat fund allocated to poor people. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=health%20finance" title="health finance">health finance</a>, <a href="https://publications.waset.org/abstracts/search?q=poverty" title=" poverty"> poverty</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20health%20insurance" title=" social health insurance"> social health insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=zakat" title=" zakat"> zakat</a> </p> <a href="https://publications.waset.org/abstracts/107589/evaluating-the-possibility-of-expanding-national-health-insurance-funding-from-zakat-sudan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107589.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">151</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5499</span> Corporate Cash Holding and Mutual Funds Flow: Global Evidence</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdulaziz%20Alomran">Abdulaziz Alomran</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigates the impact of corporate cash holdings on equity mutual fund flow using a large international sample from 23 countries. Building on the economic mechanisms of what drives investors' decisions when they construct their portfolio, we argue that corporate cash holding level has a significant effect on future cash flow. We find that there is a negative relationship between mutual fund flow and corporate cash holdings, which indicates the significant role cash-holding decisions have on mutual fund industry. Finally, we present evidence that the negative relationship between fund money sensitivity and level of cash in listed firms varies based on the region of the market. Overall, to explain these results, we highlight the important implications for investors and fund managers in mutual fund industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20cash%20holdings" title="corporate cash holdings">corporate cash holdings</a>, <a href="https://publications.waset.org/abstracts/search?q=mutual%20funds" title=" mutual funds"> mutual funds</a>, <a href="https://publications.waset.org/abstracts/search?q=fund%20flow" title=" fund flow"> fund flow</a>, <a href="https://publications.waset.org/abstracts/search?q=region%20effect" title=" region effect"> region effect</a> </p> <a href="https://publications.waset.org/abstracts/197384/corporate-cash-holding-and-mutual-funds-flow-global-evidence" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/197384.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">11</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5498</span> Investor Sentiment and Commodity Trading Advisor Fund Performance</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tian%20Lan">Tian Lan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Arbitrageurs participate in a variety of techniques in response to the existence of fluctuating sentiment, resulting in sparse sentiment exposures. This paper found that Commodity Trading Advisor (CTA) funds in the top decile rated by sentiment beta outperformed those in the bottom decile by 0.33% per month on a risk-adjusted basis, with the difference being larger among skilled managers. This paper also discovered that around ten percent of Commodity Trading Advisor (CTA) funds could accurately predict market sentiment, which has a positive correlation with fund sentiment beta and acts as a determinant in fund performance. Instead of betting against mispricing, this research demonstrates that a competent manager can achieve remarkable returns by forecasting and reacting to shifts in investor sentiment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=investment%20sentiment" title="investment sentiment">investment sentiment</a>, <a href="https://publications.waset.org/abstracts/search?q=CTA%20fund" title=" CTA fund"> CTA fund</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20timing" title=" market timing"> market timing</a>, <a href="https://publications.waset.org/abstracts/search?q=fund%20performance" title=" fund performance"> fund performance</a> </p> <a href="https://publications.waset.org/abstracts/163072/investor-sentiment-and-commodity-trading-advisor-fund-performance" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/163072.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">89</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5497</span> On the Efficiency of the Algerian FRR Sovereign Fund</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdelkader%20Guendouz">Abdelkader Guendouz</a>, <a href="https://publications.waset.org/abstracts/search?q=Fatima%20Zohra%20Adel"> Fatima Zohra Adel</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Since about two decades, the Algerian government created a new instrument in the field of its fiscal policy, which is the FRR (Fonds de Régulation des Recettes). The FRR is a sovereign fund, which the initial role was saving the surplus generated by the fixation of a referential oil price to establish the state budget in the aim equilibrium between budgetary incomes and public expenditures. After a while, the government turns to use this instrument in boosting the public investment more than keeping for funding a deficit budget in periods of crisis. This lead to ask some justified questions about the efficiency of this sovereign fund and its real role. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=FRR%20sovereign%20fund" title="FRR sovereign fund">FRR sovereign fund</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20expenditures" title=" public expenditures"> public expenditures</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20investment" title=" public investment"> public investment</a>, <a href="https://publications.waset.org/abstracts/search?q=efficiency" title=" efficiency"> efficiency</a> </p> <a href="https://publications.waset.org/abstracts/33582/on-the-efficiency-of-the-algerian-frr-sovereign-fund" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33582.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">343</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5496</span> Causal Relationship between Macro-Economic Indicators and Fund Unit Price Behaviour: Evidence from Malaysian Equity Unit Trust Fund Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anwar%20Hasan%20Abdullah%20Othman">Anwar Hasan Abdullah Othman</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahamed%20Kameel"> Ahamed Kameel</a>, <a href="https://publications.waset.org/abstracts/search?q=Hasanuddeen%20Abdul%20Aziz"> Hasanuddeen Abdul Aziz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fund%20unit%20price" title="fund unit price">fund unit price</a>, <a href="https://publications.waset.org/abstracts/search?q=unit%20trust%20industry" title=" unit trust industry"> unit trust industry</a>, <a href="https://publications.waset.org/abstracts/search?q=Malaysia" title=" Malaysia"> Malaysia</a>, <a href="https://publications.waset.org/abstracts/search?q=macroeconomic%20variables" title=" macroeconomic variables"> macroeconomic variables</a>, <a href="https://publications.waset.org/abstracts/search?q=causality" title=" causality"> causality</a> </p> <a href="https://publications.waset.org/abstracts/21736/causal-relationship-between-macro-economic-indicators-and-fund-unit-price-behaviour-evidence-from-malaysian-equity-unit-trust-fund-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/21736.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">473</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5495</span> Impact of Macroeconomic Variables on Indian Mutual Funds: A Time Series Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sonali%20Agarwal">Sonali Agarwal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The investor perception about investment avenues is affected to a great degree by the current happenings, within the country, and on the global stage. The influencing events can range from government policies, bilateral trade agreements, election agendas, to changing exchange rates, appreciation and depreciation of currency, recessions, meltdowns, bankruptcies etc. The current research attempts to discover and unravel the effect of various macroeconomic variables (crude oil price, gold price, silver price and USD exchange rate) on the Indian mutual fund industry in general and the chosen funds (Axis Gold Fund, BSL Gold Fund, Kotak Gold Fund & SBI gold fund) in particular. Cointegration tests and Vector error correction equations prove that the chosen variables have strong effect on the NAVs (net asset values) of the mutual funds. However, the greatest influence is felt from the fund’s own past and current information and it is found that when an innovation of fund’s own lagged NAVs is given, variance caused is high that changes the current NAVs markedly. The study helps to highlight the interplay of macroeconomic variables and their repercussion on mutual fund industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cointegration" title="cointegration">cointegration</a>, <a href="https://publications.waset.org/abstracts/search?q=Granger%20causality" title=" Granger causality"> Granger causality</a>, <a href="https://publications.waset.org/abstracts/search?q=impulse%20response" title=" impulse response"> impulse response</a>, <a href="https://publications.waset.org/abstracts/search?q=macroeconomic%20variables" title=" macroeconomic variables"> macroeconomic variables</a>, <a href="https://publications.waset.org/abstracts/search?q=mutual%20funds" title=" mutual funds"> mutual funds</a>, <a href="https://publications.waset.org/abstracts/search?q=stationarity" title=" stationarity"> stationarity</a>, <a href="https://publications.waset.org/abstracts/search?q=unit%20root%20test" title=" unit root test"> unit root test</a>, <a href="https://publications.waset.org/abstracts/search?q=variance%20decomposition" title=" variance decomposition"> variance decomposition</a>, <a href="https://publications.waset.org/abstracts/search?q=VECM" title=" VECM"> VECM</a> </p> <a href="https://publications.waset.org/abstracts/63588/impact-of-macroeconomic-variables-on-indian-mutual-funds-a-time-series-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/63588.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">249</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5494</span> Monitoring Systemic Risk in the Hedge Fund Sector</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Frank%20Hespeler">Frank Hespeler</a>, <a href="https://publications.waset.org/abstracts/search?q=Giuseppe%20Loiacono"> Giuseppe Loiacono</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We propose measures for systemic risk generated through intra-sectorial interdependencies in the hedge fund sector. These measures are based on variations in the average cross-effects of funds showing significant interdependency between their individual returns and the moments of the sector’s return distribution. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and are consistent with intuitive interpretation of the results. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=hedge%20funds" title="hedge funds">hedge funds</a>, <a href="https://publications.waset.org/abstracts/search?q=systemic%20risk" title=" systemic risk"> systemic risk</a>, <a href="https://publications.waset.org/abstracts/search?q=vector%20autoregressive%20model" title=" vector autoregressive model"> vector autoregressive model</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20monitoring" title=" risk monitoring"> risk monitoring</a> </p> <a href="https://publications.waset.org/abstracts/49577/monitoring-systemic-risk-in-the-hedge-fund-sector" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/49577.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">330</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5493</span> Dogmatic Instrumant in Financing Micro Project</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Adel%20Fatima%20Zohra">Adel Fatima Zohra</a>, <a href="https://publications.waset.org/abstracts/search?q=Guendouz%20Abdelkader"> Guendouz Abdelkader</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The solitary sector seems to appear nowadays as a third sector along the private and public ones, because of their ineptitude to take in charge the social exigency of the society regarding the lack in their local assets and the weakness of their financial institutions. The role of this sector is promoting a set of activities in the field of the charity, without aiming neither the individual profit nor a power practice. With the rise in the need of domestic resources, it is possible to count on the Zakat funding to realize some investment projects in order to develop the local society in many sectors as health, agriculture … etc. In the Islamic financial system, the Zakat is likely one of the most important instruments in financing the local development with the respect of the “Charia” rules: the amount of the Zakat is 2.5% of a wealth equivalent of each 85 gr of gold possessed since one year at least. In Algeria a fund of Zakat, was created since 2003 as an alternative to the public finding of development. This fund is a religious and social institution under the supervision of the ministry of religious affairs. This supervision covers two tasks: the first is traditional witch concern the distribution and the forwarding of the zakat to the poor people, and the second is modern concerning the financing of microcredits in the aim to enhance social and economic development. In this paper, we try to highlight the main role of the Zakat fund and its impact on the both social and economic development in Algeria. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dogmatic%20instrument" title="dogmatic instrument">dogmatic instrument</a>, <a href="https://publications.waset.org/abstracts/search?q=solidary%20sector" title=" solidary sector"> solidary sector</a>, <a href="https://publications.waset.org/abstracts/search?q=zakat%20fund" title=" zakat fund"> zakat fund</a>, <a href="https://publications.waset.org/abstracts/search?q=micro%20project" title=" micro project"> micro project</a> </p> <a href="https://publications.waset.org/abstracts/33581/dogmatic-instrumant-in-financing-micro-project" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33581.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">283</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5492</span> Political Economy in Climate Change Adaptation Efforts: Exploring Enclosure, Exclusion, Encroachment, and Entrenchment from the Case of Bangladesh</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shafiqul%20Islam">Shafiqul Islam</a>, <a href="https://publications.waset.org/abstracts/search?q=Cordia%20Chu"> Cordia Chu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Bangladesh contributes little to global climate change, yet it is one of the countries most vulnerable to climate change. Based on semi-structured in-depth interviews and literature review, focusing public spending distribution process, this paper demonstrates how the processes of political economy- enclosure, exclusion, encroachment, and entrenchment hinder the Climate Change Adaptation (CCA) efforts of Bangladesh Climate Change Trust Fund (BCCTF). Enclosure refers to when CCA projects allocated to less vulnerable areas or expand the roles of influencing actors into the public sphere. Exclusion refers to when CCA projects limit affected people's access to resources or marginalize particular stakeholders in decision-making activities. Encroachment refers to when allocation of CCA projects and selection of location and issues degrade the environmental affect or contribute to other forms of disaster risk. Entrenchment refers to when CCA projects aggravate the disempowerment of common people worsen the concentrations of wealth and income inequality within a community. In the case of Bangladesh, climate change policies implemented under the country’s National Adaptation Program of Action (NAPA) and Bangladesh Climate Change Strategic Action Plan (BCCSAP) have somehow enabled influential-elites to mobilize and distribute resources through bureaucracies. Exclusionary forms of fund distribution of CCA exist at both the national and local scales. CCA related allocations have encroached through the low land areas development project without consulting local needs. Most severely, CCA related unequal allocations have entrenched social class trapping the backward communities vulnerable to climate related disasters. Planners and practitioners of BCCTF need to take necessary steps to eliminate the potential risks from the processes of enclosure, exclusion, encroachment, and entrenchment happens in project fund allocations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bangladesh" title="Bangladesh">Bangladesh</a>, <a href="https://publications.waset.org/abstracts/search?q=climate%20change%20adaptation" title=" climate change adaptation"> climate change adaptation</a>, <a href="https://publications.waset.org/abstracts/search?q=political%20economy" title=" political economy"> political economy</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20fund%20distribution" title=" public fund distribution"> public fund distribution</a> </p> <a href="https://publications.waset.org/abstracts/99995/political-economy-in-climate-change-adaptation-efforts-exploring-enclosure-exclusion-encroachment-and-entrenchment-from-the-case-of-bangladesh" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99995.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">146</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5491</span> Local Pricing Strategy Should Be the Entry Point of Equitable Benefit Sharing and Poverty Reduction in Community Based Forest Management: Some Evidences from Lowland Community Forestry in Nepal</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dhruba%20Khatri">Dhruba Khatri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Despite the short history of community based forest management, the community forestry program of Nepal has produced substantial positive effects to organize the local people at a local level institution called Community Forest User Group and manage the local forest resources in the line of poverty reduction since its inception in 1970s. Moreover, each CFUG has collected a community fund from the sale of forest products and non-forestry sources as well and the fund has played a vital role to improve the livelihood of user households living in and around the forests. The specific study sites were selected based on the criteria of i) community forests having dominancy of Sal forests, and ii) forests having 3-5 years experience of community forest management. The price rates of forest products fixed by the CFUGs and the distribution records were collected from the respective community forests. Nonetheless, the relation between pricing strategy and community fund collection revealed that the small change in price of forest products could greatly affect in community fund collection and carry out of forest management, community development, and income generation activities in the line of poverty reduction at local level. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=benefit%20sharing" title="benefit sharing">benefit sharing</a>, <a href="https://publications.waset.org/abstracts/search?q=community%20forest" title=" community forest"> community forest</a>, <a href="https://publications.waset.org/abstracts/search?q=equitable" title=" equitable"> equitable</a>, <a href="https://publications.waset.org/abstracts/search?q=Nepal" title=" Nepal"> Nepal</a> </p> <a href="https://publications.waset.org/abstracts/33503/local-pricing-strategy-should-be-the-entry-point-of-equitable-benefit-sharing-and-poverty-reduction-in-community-based-forest-management-some-evidences-from-lowland-community-forestry-in-nepal" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33503.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">389</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5490</span> Mutual Fund Anchoring Bias with its Parent Firm Performance: Evidence from Mutual Fund Industry of Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Tahir">Muhammad Tahir</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Purpose The purpose of the study is to find anchoring bias behavior in mutual fund return with its parent firm performance in Pakistan. Research Methodology The paper used monthly returns of equity funds whose parent firm exist from 2011 to 2021, along with parent firm return. Proximity to 52-week highest return calculated by dividing fund return by parent firm 52-week highest return. Control variables are also taken and used pannel regression model to estimate our results. For robust results, we also used feasible generalize least square (FGLS) model. Findings The results showed that there exist anchoring biased in mutual fund return with its parent firm performance. The FGLS results reaffirms the same results as obtained from panner regression results. Proximity to 52-week highest Xc is significant in both models. Research Implication Since most of mutual funds has a parent firm, anchoring behavior biased found in mutual fund with its parent firm performance. Practical Implication Mutual fund investors in Pakistan invest in equity funds in which behavioral bias exist, although there might be better opportunity in market. Originality/Value Addition Our research is a pioneer study to investigate anchoring bias in mutual fund return with its parent firm performance. Research limitations Our sample is limited to only 23 equity funds, which has a parent firm and data was available from 2011 to 2021. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mutual%20fund" title="mutual fund">mutual fund</a>, <a href="https://publications.waset.org/abstracts/search?q=anchoring%20bias" title=" anchoring bias"> anchoring bias</a>, <a href="https://publications.waset.org/abstracts/search?q=52-week%20high%20return" title=" 52-week high return"> 52-week high return</a>, <a href="https://publications.waset.org/abstracts/search?q=proximity%20to%2052-week%20high" title=" proximity to 52-week high"> proximity to 52-week high</a>, <a href="https://publications.waset.org/abstracts/search?q=parent%20firm%20performance" title=" parent firm performance"> parent firm performance</a>, <a href="https://publications.waset.org/abstracts/search?q=pannel%20regression" title=" pannel regression"> pannel regression</a>, <a href="https://publications.waset.org/abstracts/search?q=FGLS" title=" FGLS"> FGLS</a> </p> <a href="https://publications.waset.org/abstracts/164836/mutual-fund-anchoring-bias-with-its-parent-firm-performance-evidence-from-mutual-fund-industry-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/164836.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">123</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5489</span> Interaction between Mutual Fund Performance and Portfolio Turnover</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sheng-Ching%20Wu">Sheng-Ching Wu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the interaction between mutual fund performance and portfolio turnover. Active trading could affect fund performance, but underperforming funds could also be traded actively at the same time to perform well. Therefore, we used two-stage least squares to address with simultaneity. The results indicate that funds with higher portfolio turnovers exhibit inferior performance compared with funds having lower turnovers. Moreover, funds with poor performance exhibit higher portfolio turnover. The findings support the assumptions that active trading erodes performance, and that fund managers with poor performance attempt to trade actively to retain employment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mutual%20funds" title="mutual funds">mutual funds</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20turnover" title=" portfolio turnover"> portfolio turnover</a>, <a href="https://publications.waset.org/abstracts/search?q=simultaneity" title=" simultaneity"> simultaneity</a>, <a href="https://publications.waset.org/abstracts/search?q=two-stage%20least%20squares" title=" two-stage least squares"> two-stage least squares</a> </p> <a href="https://publications.waset.org/abstracts/8033/interaction-between-mutual-fund-performance-and-portfolio-turnover" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/8033.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">453</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5488</span> A Political-Economic Analysis of Next Generation EU Recovery Fund</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fernando%20Mart%C3%ADn-Espejo">Fernando Martín-Espejo</a>, <a href="https://publications.waset.org/abstracts/search?q=Christophe%20Crombez"> Christophe Crombez</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper presents a political-economic analysis of the reforms introduced during the coronavirus crisis at the EU level with a special emphasis on the recovery fund Next Generation EU (NGEU). It also introduces a spatial model to evaluate whether the governmental features of the recovery fund can be framed inside the community method. Particularly, by evaluating the brake clause in the NGEU legislation, this paper analyses theoretically the political and legislative implications of the introduction of flexibility clauses in the EU decision-making process. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=EU" title="EU">EU</a>, <a href="https://publications.waset.org/abstracts/search?q=legislative%20procedures" title=" legislative procedures"> legislative procedures</a>, <a href="https://publications.waset.org/abstracts/search?q=spatial%20model" title=" spatial model"> spatial model</a>, <a href="https://publications.waset.org/abstracts/search?q=coronavirus" title=" coronavirus"> coronavirus</a> </p> <a href="https://publications.waset.org/abstracts/144244/a-political-economic-analysis-of-next-generation-eu-recovery-fund" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/144244.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">182</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5487</span> Factors Affecting the Effective Management of the Employee Welfare Fund at the Department of Labour Protection and Welfare</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nareerut%20Rodwring">Nareerut Rodwring</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purposes of this research were to study the current problems of the management of welfare fund at the department of labor protection and welfare, to study important factors affecting the management of welfare fund at the department of labor protection and welfare, to study major influences of the management of welfare fund at the department of labor protection and welfare, and finally to propose the proper guidelines for the management of welfare fund at the department of labor protection and welfare. This research study utilized the information from document, laws, rules, and regulations of the government, handbook for welfare, and government policy in the past. Moreover, the qualitative research was conducted by retrieving insight information from key informants, 15 persons for the committee of welfare employees, and 10 persons from a high level of management in the welfare area, academics, and experts. In terms of quantitative method, the study covers all 76 provinces and 10 areas of Bangkok. Independent variables included strategy, structure, shared value, system, whereas the dependent variables included the management factors such as speed, punctuation, and quality of work. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=strategy" title="strategy">strategy</a>, <a href="https://publications.waset.org/abstracts/search?q=welfare" title=" welfare"> welfare</a>, <a href="https://publications.waset.org/abstracts/search?q=labor%20protection" title=" labor protection"> labor protection</a>, <a href="https://publications.waset.org/abstracts/search?q=management" title=" management"> management</a> </p> <a href="https://publications.waset.org/abstracts/89881/factors-affecting-the-effective-management-of-the-employee-welfare-fund-at-the-department-of-labour-protection-and-welfare" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89881.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">187</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5486</span> Deposit Guarantee Fund: One Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rute%20Abreu">Rute Abreu</a>, <a href="https://publications.waset.org/abstracts/search?q=F%C3%A1tima%20David"> Fátima David</a>, <a href="https://publications.waset.org/abstracts/search?q=Liliane%20Cristina%20Segura"> Liliane Cristina Segura</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=deposit%20guarantee%20fund" title="deposit guarantee fund">deposit guarantee fund</a>, <a href="https://publications.waset.org/abstracts/search?q=Portugal" title=" Portugal"> Portugal</a>, <a href="https://publications.waset.org/abstracts/search?q=accounting" title=" accounting"> accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20report" title=" financial report"> financial report</a> </p> <a href="https://publications.waset.org/abstracts/5583/deposit-guarantee-fund-one-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/5583.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">440</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5485</span> Exploring Exposed Political Economy in Disaster Risk Reduction Efforts in Bangladesh</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shafiqul%20Islam">Shafiqul Islam</a>, <a href="https://publications.waset.org/abstracts/search?q=Cordia%20Chu"> Cordia Chu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Bangladesh is one of the most vulnerable countries to climate related disasters such as flood and cyclone. Exploring from the semi-structured in-depth interviews of 38 stakeholders and literature review, this study examined the public spending distribution process in DRR. This paper demonstrates how the processes of political economy-enclosure, exclusion, encroachment, and entrenchment hinder the Disaster Risk Reduction (DRR) efforts of Department of Disaster Management (DDM) such as distribution of flood centres, cyclone centres and 40 days employment generation programs. Enclosure refers to when DRR projects allocated to less vulnerable areas or expand the roles of influencing actors into the public sphere. Exclusion refers to when DRR projects limit affected people’s access to resources or marginalize particular stakeholders in decision-making activities. Encroachment refers to when allocation of DRR projects and selection of location and issues degrade the environmental affect or contribute to other forms of disaster risk. Entrenchment refers to when DRR projects aggravate the disempowerment of common people worsen the concentrations of wealth and income inequality within a community. In line with United Nations (UN) Sustainable Development Goals (SDGs), Hyogo and Sendai Frameworks, in the case of Bangladesh, DRR policies implemented under the country’s national five-year plan, disaster-related acts and rules. These policies and practices have somehow enabled influential-elites to mobilize and distribute resources through bureaucracies. Exclusionary forms of fund distribution of DRR exist at both the national and local scales. DRR related allocations have encroached through the low land areas development project without consulting local needs. Most severely, DRR related unequal allocations have entrenched social class trapping the backward communities vulnerable to climate related disasters. Planners and practitioners of DRR need to take necessary steps to eliminate the potential risks from the processes of enclosure, exclusion, encroachment, and entrenchment happens in project fund allocations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bangladesh" title="Bangladesh">Bangladesh</a>, <a href="https://publications.waset.org/abstracts/search?q=disaster%20risk%20reduction" title=" disaster risk reduction"> disaster risk reduction</a>, <a href="https://publications.waset.org/abstracts/search?q=fund%20distribution" title=" fund distribution"> fund distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=political%20economy" title=" political economy"> political economy</a> </p> <a href="https://publications.waset.org/abstracts/99689/exploring-exposed-political-economy-in-disaster-risk-reduction-efforts-in-bangladesh" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99689.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">134</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5484</span> The Relationship Between Argentina and the IMF (2018-2022), Economic Rationality and Moral Discourse</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=German%20Ricci">German Ricci</a>, <a href="https://publications.waset.org/abstracts/search?q=Horacio%20Divito"> Horacio Divito</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article analyses the ethical dimension of the IMF in its relationship with Argentina from the Standby Agreement sanctioned in 2018 to the Extended Fund Facilities of 2023. From the analysis of the statements of the IMF, the appeal of the Agency to an ethic is evidenced and supposedly shared with the borrowing country, in addition to the well-known technical-economic evaluations. The Fund "vindicates" and "punishes" the borrowing country through moral judgment. In the Fund's narratives, the "effort," "commitment," and "work" of the local elite are rewarded. On the other hand, there is a repeated discursive emphasis of the IMF on its permanent intention to "help" Argentina through its collaborative nature. Finally, the emergence of moral prescriptions that question the very being of the debtor country and its representatives is detected when the relationship between local authorities and the IMF is tense. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=IMF" title="IMF">IMF</a>, <a href="https://publications.waset.org/abstracts/search?q=Argentina" title=" Argentina"> Argentina</a>, <a href="https://publications.waset.org/abstracts/search?q=ethics" title=" ethics"> ethics</a>, <a href="https://publications.waset.org/abstracts/search?q=moral" title=" moral"> moral</a>, <a href="https://publications.waset.org/abstracts/search?q=dependency%20routine" title=" dependency routine"> dependency routine</a>, <a href="https://publications.waset.org/abstracts/search?q=symbolic%20power" title=" symbolic power"> symbolic power</a> </p> <a href="https://publications.waset.org/abstracts/168714/the-relationship-between-argentina-and-the-imf-2018-2022-economic-rationality-and-moral-discourse" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/168714.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">87</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5483</span> The Role of Law Corruption and Culture in Investment Fund Manager Fees</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Samir%20Assal">Samir Assal </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share distributions of fees. The data highlight a role of legal conditions in shaping fees paid to fund managers. In countries with better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share distributions are more likely. These findings suggest legal conditions help to align the interests of managers and shareholders. More specifically, we examine which element of legal conditions matter most, and discover that corruption levels play a pronounced role in shaping fund manager fee contracts. We also show that cultural forces such as Hofstede’s measures of power distance and uncertainty avoidance likewise play a role in influencing fees. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=managerial%20compensation" title="managerial compensation">managerial compensation</a>, <a href="https://publications.waset.org/abstracts/search?q=incentive%20contracts" title=" incentive contracts"> incentive contracts</a>, <a href="https://publications.waset.org/abstracts/search?q=private%20equity" title=" private equity"> private equity</a>, <a href="https://publications.waset.org/abstracts/search?q=law%20and%20finance" title=" law and finance "> law and finance </a> </p> <a href="https://publications.waset.org/abstracts/14537/the-role-of-law-corruption-and-culture-in-investment-fund-manager-fees" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/14537.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">312</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5482</span> Pricing Effects on Equitable Distribution of Forest Products and Livelihood Improvement in Nepalese Community Forestry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Laxuman%20Thakuri">Laxuman Thakuri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Despite the large number of in-depth case studies focused on policy analysis, institutional arrangement, and collective action of common property resource management; how the local institutions take the pricing decision of forest products in community forest management and what kinds of effects produce it, the answers of these questions are largely silent among the policy-makers and researchers alike. The study examined how the local institutions take the pricing decision of forest products in the lowland community forestry of Nepal and how the decisions affect to equitable distribution of benefits and livelihood improvement which are also objectives of Nepalese community forestry. The study assumes that forest products pricing decisions have multiple effects on equitable distribution and livelihood improvement in the areas having heterogeneous socio-economic conditions. The dissertation was carried out at four community forests of lowland, Nepal that has characteristics of high value species, matured-experience of community forest management and better record-keeping system of forest products production, pricing and distribution. The questionnaire survey, individual to group discussions and direct field observation were applied for data collection from the field, and Lorenz curve, gini-coefficient, χ²-text, and SWOT (Strong, Weak, Opportunity, and Threat) analysis were performed for data analysis and results interpretation. The dissertation demonstrates that the low pricing strategy of high-value forest products was supposed crucial to increase the access of socio-economically weak households, and to and control over the important forest products such as timber, but found counter productive as the strategy increased the access of socio-economically better-off households at higher rate. In addition, the strategy contradicts to collect a large-scale community fund and carry out livelihood improvement activities as per the community forestry objectives. The crucial part of the study is despite the fact of low pricing strategy; the timber alone contributed large part of community fund collection. The results revealed close relation between pricing decisions and livelihood objectives. The action research result shows that positive price discrimination can slightly reduce the prevailing inequality and increase the fund. However, it lacks to harness the full price of forest products and collects a large-scale community fund. For broader outcomes of common property resource management in terms of resource sustainability, equity, and livelihood opportunity, the study suggests local institutions to harness the full price of resource products with respect to the local market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=community" title="community">community</a>, <a href="https://publications.waset.org/abstracts/search?q=equitable" title=" equitable"> equitable</a>, <a href="https://publications.waset.org/abstracts/search?q=forest" title=" forest"> forest</a>, <a href="https://publications.waset.org/abstracts/search?q=livelihood" title=" livelihood"> livelihood</a>, <a href="https://publications.waset.org/abstracts/search?q=socioeconomic" title=" socioeconomic"> socioeconomic</a>, <a href="https://publications.waset.org/abstracts/search?q=Nepal" title=" Nepal"> Nepal</a> </p> <a href="https://publications.waset.org/abstracts/29512/pricing-effects-on-equitable-distribution-of-forest-products-and-livelihood-improvement-in-nepalese-community-forestry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29512.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">541</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5481</span> Italian Central Guarantee Fund: An Analysis of the Guaranteed SMEs’ Default Risk</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20C.%20Arcuri">M. C. Arcuri</a>, <a href="https://publications.waset.org/abstracts/search?q=L.%20Gai"> L. Gai</a>, <a href="https://publications.waset.org/abstracts/search?q=F.%20Ielasi"> F. Ielasi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions.  <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=banks" title="banks">banks</a>, <a href="https://publications.waset.org/abstracts/search?q=default%20risk" title=" default risk"> default risk</a>, <a href="https://publications.waset.org/abstracts/search?q=Italian%20guarantee%20fund" title=" Italian guarantee fund"> Italian guarantee fund</a>, <a href="https://publications.waset.org/abstracts/search?q=mutual%20guarantee%20institutions" title=" mutual guarantee institutions"> mutual guarantee institutions</a> </p> <a href="https://publications.waset.org/abstracts/103105/italian-central-guarantee-fund-an-analysis-of-the-guaranteed-smes-default-risk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/103105.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">185</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5480</span> Untapped Market of Islamic Pension Fund: Muslim Attitude and Expectation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yunice%20Karina%20Tumewang">Yunice Karina Tumewang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> As we have seen, the number of Muslim and their awareness toward financial products and services that conform to Islamic principles are growing rapidly today. Thus, it makes the market environment potentially beneficial for Shari-compliant funds with the expanding prospective client base. However, over the last decade, only small portion of this huge potential market has been covered by the established Islamic asset management firms. This study aims to examine the factors of this untapped market particularly in the demand side. This study will use the qualitative method with primary data through a questionnaire distributed to 500 samples of Muslim population. It will shed light on Muslim attitudes and expectations toward Sharia-compliant retirement planning and pensions. It will also help to raise the awareness of market players to see Islamic pension fund as a promising industry in the foreseeable future. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20marketing" title="Islamic marketing">Islamic marketing</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance" title=" Islamic finance"> Islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20asset%20management" title=" Islamic asset management"> Islamic asset management</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20pension%20fund" title=" Islamic pension fund"> Islamic pension fund</a> </p> <a href="https://publications.waset.org/abstracts/72348/untapped-market-of-islamic-pension-fund-muslim-attitude-and-expectation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72348.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">341</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5479</span> The Superior Performance of Investment Bank-Affiliated Mutual Funds</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Michelo%20Obrey">Michelo Obrey</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mutual%20fund%20performance" title="mutual fund performance">mutual fund performance</a>, <a href="https://publications.waset.org/abstracts/search?q=conflicts%20of%20interest" title=" conflicts of interest"> conflicts of interest</a>, <a href="https://publications.waset.org/abstracts/search?q=informational%20advantage" title=" informational advantage"> informational advantage</a>, <a href="https://publications.waset.org/abstracts/search?q=investment%20bank" title=" investment bank"> investment bank</a> </p> <a href="https://publications.waset.org/abstracts/134432/the-superior-performance-of-investment-bank-affiliated-mutual-funds" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/134432.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">196</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5478</span> A Proposed Mechanism for Skewing Symmetric Distributions</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20T.%20Alodat">M. T. Alodat</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we propose a mechanism for skewing any symmetric distribution. The new distribution is called the deflation-inflation distribution (DID). We discuss some statistical properties of the DID such moments, stochastic representation, log-concavity. Also we fit the distribution to real data and we compare it to normal distribution and Azzlaini's skew normal distribution. Numerical results show that the DID fits the the tree ring data better than the other two distributions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=normal%20distribution" title="normal distribution">normal distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=moments" title=" moments"> moments</a>, <a href="https://publications.waset.org/abstracts/search?q=Fisher%20information" title=" Fisher information"> Fisher information</a>, <a href="https://publications.waset.org/abstracts/search?q=symmetric%20distributions" title=" symmetric distributions"> symmetric distributions</a> </p> <a href="https://publications.waset.org/abstracts/28593/a-proposed-mechanism-for-skewing-symmetric-distributions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28593.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">662</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5477</span> Development of an Index for Asset Class in Ex-Ante Portfolio Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Miang%20Hong%20Ngerng">Miang Hong Ngerng</a>, <a href="https://publications.waset.org/abstracts/search?q=Noor%20Diyana%20Jasme"> Noor Diyana Jasme</a>, <a href="https://publications.waset.org/abstracts/search?q=May%20Jin%20Theong"> May Jin Theong</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=active%20portfolio%20management" title="active portfolio management">active portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=asset%20allocation%20ex-ante%20investment" title=" asset allocation ex-ante investment"> asset allocation ex-ante investment</a>, <a href="https://publications.waset.org/abstracts/search?q=asset%20class" title=" asset class"> asset class</a>, <a href="https://publications.waset.org/abstracts/search?q=partial%20lease%20square" title=" partial lease square"> partial lease square</a> </p> <a href="https://publications.waset.org/abstracts/56458/development-of-an-index-for-asset-class-in-ex-ante-portfolio-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56458.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">273</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5476</span> The Exponentiated Hypoexponential Distribution</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Therrar%20Kadri">Therrar Kadri</a>, <a href="https://publications.waset.org/abstracts/search?q=Anass%20Nassabein"> Anass Nassabein</a>, <a href="https://publications.waset.org/abstracts/search?q=Seifideen%20Kadry"> Seifideen Kadry</a>, <a href="https://publications.waset.org/abstracts/search?q=Khaled%20Smaili"> Khaled Smaili</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper we study the Exponentiated Hypoexponential Distribution with different parameters. The distribution added a parameter to the n parameters of the Hypoexponenial distribution. We first derive a closed expression of the probability density function and the cumulative distribution function of Maximum Exponentiated Exponential distribution. These functions are used to determine an exact expression of the probability density function, the cumulative function, reliability function, and hazard function of our Exponentiated Hypoexponential Distribution. We discuss estimation of the parameters by maximum likelihood estimators. The distribution has been fitted to a real life data set and the fit has been found to be a serious competitor to the others. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=exponentiated%20exponential%20distribution" title="exponentiated exponential distribution">exponentiated exponential distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=exponentiated%20hypoexponential%20distribution" title=" exponentiated hypoexponential distribution"> exponentiated hypoexponential distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=maximum%20likelihood%20estimation" title=" maximum likelihood estimation"> maximum likelihood estimation</a> </p> <a href="https://publications.waset.org/abstracts/198337/the-exponentiated-hypoexponential-distribution" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/198337.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">14</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5475</span> A Flexible Pareto Distribution Using α-Power Transformation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shumaila%20Ehtisham">Shumaila Ehtisham</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In Statistical Distribution Theory, considering an additional parameter to classical distributions is a usual practice. In this study, a new distribution referred to as α-Power Pareto distribution is introduced by including an extra parameter. Several properties of the proposed distribution including explicit expressions for the moment generating function, mode, quantiles, entropies and order statistics are obtained. Unknown parameters have been estimated by using maximum likelihood estimation technique. Two real datasets have been considered to examine the usefulness of the proposed distribution. It has been observed that α-Power Pareto distribution outperforms while compared to different variants of Pareto distribution on the basis of model selection criteria. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=%CE%B1-power%20transformation" title="α-power transformation">α-power transformation</a>, <a href="https://publications.waset.org/abstracts/search?q=maximum%20likelihood%20estimation" title=" maximum likelihood estimation"> maximum likelihood estimation</a>, <a href="https://publications.waset.org/abstracts/search?q=moment%20generating%20function" title=" moment generating function"> moment generating function</a>, <a href="https://publications.waset.org/abstracts/search?q=Pareto%20distribution" title=" Pareto distribution"> Pareto distribution</a> </p> <a href="https://publications.waset.org/abstracts/89859/a-flexible-pareto-distribution-using-a-power-transformation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89859.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">218</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5474</span> An Extension of the Generalized Extreme Value Distribution</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Serge%20Provost">Serge Provost</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdous%20Saboor"> Abdous Saboor</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A q-analogue of the generalized extreme value distribution which includes the Gumbel distribution is introduced. The additional parameter q allows for increased modeling flexibility. The resulting distribution can have a finite, semi-infinite or infinite support. It can also produce several types of hazard rate functions. The model parameters are determined by making use of the method of maximum likelihood. It will be shown that it compares favourably to three related distributions in connection with the modeling of a certain hydrological data set. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=extreme%20value%20theory" title="extreme value theory">extreme value theory</a>, <a href="https://publications.waset.org/abstracts/search?q=generalized%20extreme%20value%20distribution" title=" generalized extreme value distribution"> generalized extreme value distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=goodness-of-fit%20statistics" title=" goodness-of-fit statistics"> goodness-of-fit statistics</a>, <a href="https://publications.waset.org/abstracts/search?q=Gumbel%20distribution" title=" Gumbel distribution"> Gumbel distribution</a> </p> <a href="https://publications.waset.org/abstracts/72656/an-extension-of-the-generalized-extreme-value-distribution" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72656.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">354</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5473</span> An Investigation of the Effectiveness and Quality Service of Thai Labor Fund</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Chutikarn%20Sriviboon">Chutikarn Sriviboon</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objectives of this research were to study the operation of the Labor Fund and to investigate the needs for money and assistance from Thai laborers both from within the system and out of the system and to compare between the assistance from domestic and international funds. The population of this study included three labor groups: group one was laborer in the system who were the members of saving cooperative, group two was laborer in the system who were not the members of saving cooperative, and group three was laborer who were not in the system. This was a mixed research of quantitative and qualitative methods. The findings can be categorized into four parts. First, the labor fund was beneficial to Thai laborers by giving access to government funds but the weakness was found to be poor public relations. Second, the labor funds should extend their assistance to laborer in the system who was not the members of saving cooperative. Third, the comparison between domestic labor funds and international labor funds revealed that there were no international funds which provided assistance the same way as Thai labor funds. Finally, there was a need to improve the management of labor funds and to provide long term assistance to Thai labors. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=effectiveness" title="effectiveness">effectiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=quality" title=" quality"> quality</a>, <a href="https://publications.waset.org/abstracts/search?q=labor%20funds" title=" labor funds"> labor funds</a>, <a href="https://publications.waset.org/abstracts/search?q=service" title=" service"> service</a> </p> <a href="https://publications.waset.org/abstracts/10774/an-investigation-of-the-effectiveness-and-quality-service-of-thai-labor-fund" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/10774.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">360</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fund%20distribution&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fund%20distribution&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fund%20distribution&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fund%20distribution&page=5">5</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fund%20distribution&page=6">6</a></li> <li class="page-item"><a class="page-link" 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