Strategic and institutional influences on fund manager investment flows

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.

Grantor dc:publisher

Edith Cowan University, Research Online, Perth, Western Australia

Year dc:date

2004

Author dc:creator

• Parwada, Jerry T.

• Financial services industry
• Australia.
• Finance and Financial Management

Repository record dc:identifier

https://ro.ecu.edu.au/theses/766

OAI identifier oai:identifier

oai:ro.ecu.edu.au:theses-1767