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Massimo Massa
Professor of Finance
Keywords
Trust; International Investments; Mutual Funds; Performance JEL Codes: G15, G20; Corporate Governance; Investors, Stakeholders and Accountability
Working Paper
Massa M., Wang C., Zhang H., Zhang J. (2015). Investing in Low-Trust Countries: Trust in the Global Mutual Fund Industry. 2015/13/FIN
The authors hypothesize that trust plays an important role in affecting the activeness and effectiveness of the global mutual fund industry. Empirically, trust is positively associated with the activeness of domestic funds, whereas for internationals mutual funds conducting cross-border investments activeness is bounded by the trust of lowtrust countries.