Date of Award
Thesis - ECU Access Only
Edith Cowan University
Doctor of Philosophy
Faculty of Business and Public Management
Professor David Allen
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.
Parwada, J. T. (2004). Strategic and institutional influences on fund manager investment flows. Edith Cowan University. Retrieved from https://ro.ecu.edu.au/theses/766