{"title":"The Effects of Bank Charter Switching on Supervisory Ratings","authors":"Marcelo Rezende","doi":"10.2139/ssrn.1926324","DOIUrl":"https://doi.org/10.2139/ssrn.1926324","url":null,"abstract":"I study whether commercial banks can improve their supervisory ratings by switching charters. I use the fees charged by chartering authorities to establish a causal effect from switching on ratings. Banks receive more favorable ratings after they change charters, an effect that is large for both national and state charters. In addition, controlling for bank ratings, banks that switch charters fail more often than others. These results suggest that banks can arbitrage ratings by switching charters and are consistent with regulators competing for banks by rating incoming banks better than similar banks that they already supervise.","PeriodicalId":279139,"journal":{"name":"Financial Institutions & Services 2","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123727244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Performance of Chinese Open End Stock Mutual Funds: A First Look","authors":"Bolong Cao, Wei He","doi":"10.2139/ssrn.1927724","DOIUrl":"https://doi.org/10.2139/ssrn.1927724","url":null,"abstract":"We provide a first look at the performance of Chinese open-end mutual funds from 2001 to 2008 using data from a high quality mutual fund database provided by the GTA Information Technology Co., Ltd. From daily return data, we find that some Chinese open-end mutual funds can provide statistically significant risk-adjusted abnormal returns and demonstrate market timing ability in various models. Furthermore, after controlling for management fee, fund growth rate, fund age and investment strategies, larger funds shows better market timing ability in a full market cycle that we examined. This result is also robust in the bull market and the bear market sub-periods.","PeriodicalId":279139,"journal":{"name":"Financial Institutions & Services 2","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115294008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}