Publication details
Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe
| Authors | |
|---|---|
| Year of publication | 2014 |
| Type | Article in Proceedings |
| Conference | European Financial Systems 2014: Proceedings of the 11th International Scientific Conference |
| MU Faculty or unit | |
| Citation | |
| Field | Management and administrative |
| Keywords | determinants; economic and financial system development; governance |
| Description | The rapid growth and development of mutual fund industry throughout the world stimulated vast contemporary studies focusing on wide range of issues predominantly of microeconomic character, such as fund performance, timing ability, fees and fund flows, thus leaving determinants and attributes of mutual fund industry development beyond their research. The rare relevant studies predict that development of mutual fund industry depends on a number of factors among which the predominant role belongs to development of economic and financial system, and quality of governance and regulatory basis. One essential condition of validity of this prediction is that it is based upon a sample of developed economies, thus leaving a space for the likelihood that under condition of developing or middle-income economies some expectations may substantially deviate from the predication. This paper aims to reevaluate by means of regressing the size of mutual fund industry over a number of independent variables the significance of impact of factors identified in previous studies in the sample of high- and middle-income economies of Central and Eastern Europe. Although chosen sample does not cover as large number of countries as previous studies, it provides a brief insight into CEE mutual fund industry, documenting important country and regional characteristics. |
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