Journal article

Authors list: Bannier, CE; Heyden, T; Tillmann, P

Publication year: 2019

Pages: 37-45

Journal: Economics Letters

Volume number: 178

DOI Link: https://doi.org/10.1016/j.econlet.2019.02.009

Publisher: Elsevier

Abstract: 

We study the short-term impact of sovereign rating and outlook changes on daily portfolio flows of active and passive mutual funds to emerging market economies. Our results indicate that active bond fund flows react only to negative rating actions, whereas passive bond fund flows are sensitive to both positive and negative rating actions. Active and passive country flows hence do not always follow the same determinants.

Harvard Citation style: Bannier, C., Heyden, T. and Tillmann, P. (2019) Rating changes and portfolio flows to emerging markets: Evidence from active and passive funds, Economics Letters, 178, pp. 37-45. https://doi.org/10.1016/j.econlet.2019.02.009

APA Citation style: Bannier, C., Heyden, T., & Tillmann, P. (2019). Rating changes and portfolio flows to emerging markets: Evidence from active and passive funds. Economics Letters. 178, 37-45. https://doi.org/10.1016/j.econlet.2019.02.009