Details

Autor(en) / Beteiligte

• Gameiro, Eduardo Miguel Baptista

Titel

On Bond Mutual Funds Participation in the Lending Market

Ort / Verlag

ProQuest Dissertations & Theses

Erscheinungsjahr

2020

Quelle

ProQuest Dissertations & Theses A&I

Beschreibungen/Notizen

• The purpose of this masterthesis is to examine which factors drive the decision of bond funds to lend their securities and the performance of those funds which lend relative to similar funds which do not. Overall, none of the variables studied impact the decision of funds to lend securities, and funds which lend perform similarly to non-lending funds. To further clarify the dependency of the return-lending attribute, funds were divided according to the permanent or non-permanent character of lending practices. Funds that alternate between lending and non-lending exhibited a small albeit negligible return penalty.