Tag Archives: investor

The Effect of Financial Reporting on Strategic Investments: Evidence from Purchase Obligations 

By | August 11, 2022

Firms make investments to increase their future profits because they help reduce production costs, increase capacity, or upgrade their products or services. However, firms do not always make investments to improve production efficiency or customer demand. They often make investments to strategically influence competitors’ behavior. Due to their costly-to-reverse and time-bound nature, investments signal credible… Read More »

Mutual Fund Liquidity Management, Stock Liquidity, and Corporate Disclosure

By | June 24, 2021

“Lessons from COVID-19: Liquidity Risk Management is Central to Open-Ended Funds.” —BlackRock (2020) “Liquidity risk management programs (LRMPs) will be a focus area for the Division.” —SEC (2021) Mutual fund liquidity management has become increasingly important since the financial crisis of 2007–2009, during which regulators and practitioners raised concerns about whether mutual fund portfolios had… Read More »

Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds

By | June 16, 2021

With the global push toward sustainable investment, investors are concerned about whether the cost of investing green will result in lower portfolio returns in the long term. Are there win-win strategies where green investments can generate high returns alongside positive environmental impact? Our new paper, funded by the National Pension Hub at the Global Risk Institute,… Read More »

What Is the Impact of Mutual Funds’ ESG Preferences on Portfolio Firms?

By | May 27, 2021

Institutional ownership has increased tremendously over the past few decades. This shift in ownership has led to major concerns as to whether institutional investors have the incentives or the tools to be active shareholders. Assessing how effective institutional investors are in their stewardship activities has therefore become critical. However, such an assessment has proven difficult,… Read More »