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 …

… Edward S. O’Neal is assistant professor of finance in the Babcock Graduate School of … $7.50
unlessthe exchange is made through Fidelity’s automated exchange service. Therefore, an …

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 …

… study’s results with randomly selected mutual fund portfolios suggest that diversification across
… Edward S. O’Neal is assistant professor of finance at the University of New Hampshire at …

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 …

US SEC Rule 18f-3 allows mutual funds to offer multiple share classes that represent claims
on the same underlying assets. Share classes differ with respect to distribution …

This paper documents that, consistent with the practice of window dressing, equity mutual
funds exhibit atypical return behavior around fiscal year-ends. To identify atypical returns, …