Title

Strategic and institutional influences on fund manager investment flows

Date of Award

1-1-2004

Degree Type

Thesis

Degree Name

Doctor of Philosophy

Faculty

Faculty of Business and Public Management

First Advisor

Professor David Allen

Abstract

This thesis presents four studies of the influence of fund managers’ strategic decisions and institutional characteristics on investment cashflows. The first study investigates the alleged disintermediation of banks’ traditional deposit-taking in favour of investment management activities. Using data on Australian bank-affiliated funds and a nine-year record of the parent banks’ liability balances, this study finds that managed funds do not displace bank liabilities. Prudential capital adequacy requirements dissuade banks from using in-house managed investments as indirect conduits for raising funds in the same manner as deposit-taking.

Access Note

Access to this thesis - the full text is restricted to current ECU staff and students only. Email request to library@ecu.edu.au

Access to this thesis is restricted. Please see the Access Note below for access details.

Share

 
COinS