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Article
Publication date: 13 June 2008

Faten Sabry and Winai Wongsurawat

The purpose of this paper is to describe data assembled on all registered US investment companies on advisory fees using the NSAR filings and to analyze the impact of the…

Abstract

Purpose

The purpose of this paper is to describe data assembled on all registered US investment companies on advisory fees using the NSAR filings and to analyze the impact of the structure of the advisory contracts on the fees paid to mutual funds advisors. This analysis is particularly relevant now that mutual funds have to explain the rationale for the choice of the advisory fees in their public filings.

Design/methodology/approach

The paper summarizes data on advisory fees in the NSAR filings and uses regression analysis to examine the determinants of advisory fees.

Findings

The paper summarizes salient features of the mutual fund advisory fee contracts using the NSAR database. The analysis shows that breakpoint fee schedules designed to generate savings, do not automatically translate into lower expenses for the investors.

Practical implications

When determining the renewal of an advisory contract, the board of trustees of a mutual fund will then need to assess myriad factors related to the costs and profits of the fund, including the nature of the fee schedule. Regression models provide objective measures of assessing the reasonableness of advisory fees.

Originality/value

This paper contributes to the ongoing debate on the evaluation of mutual funds advisory fees and highlights the usefulness of the NSAR filings. The debate is especially relevant given the additional SEC disclosure requirements.

Details

Journal of Investment Compliance, vol. 9 no. 2
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 13 June 2008

Henry A. Davis and James A. Tricarico Jr

Abstract

Details

Journal of Investment Compliance, vol. 9 no. 2
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 1 January 2012

Khaled Hussainey

Abstract

Details

Managerial Auditing Journal, vol. 27 no. 2
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 12 May 2020

Ouidade Sabri, Hai Van Doan, Faten Malek and Hager Bachouche

The purpose of this paper is to demonstrate that the positive effect of packaging transparency on purchase intention is moderated by product quality risk (PQR) associated…

Abstract

Purpose

The purpose of this paper is to demonstrate that the positive effect of packaging transparency on purchase intention is moderated by product quality risk (PQR) associated with the product category.

Design/methodology/approach

Two separate experiments were conducted. Study 1 was designed to test the mediating role of perceived quality to account for the positive effect of transparency on purchase intention. Two types of packaging (opaque vs transparent) for a product associated with a high level of PQR were examined. Study 2 extended the findings by introducing the moderating role of PQR. A 2 (type of packaging: opaque vs transparent)*2 (PQR: low vs high) between subjects design was used.

Findings

The moderating role of the product PQR level is established: transparent packaging improves the product perceived quality and brand purchase intention when the product is associated with a high PQR, whereas there is no such preference for transparent packaging when the product is associated with a low PQR.

Practical implications

The results offer insights to better understand the potential gains from adopting transparent packaging. If a brand manager's main goals are to develop sales, costly investments in research and development of transparent packaging appear to be fruitful only for products associated with high PQR.

Originality/value

This paper contributes to packaging, cue utilisation and perceived risk literatures by evidencing the moderating role of PQR to explain the positive effect of transparency on purchase intention.

Details

International Journal of Retail & Distribution Management, vol. 48 no. 8
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 1 January 2012

Sabri Boubaker, Faten Lakhal and Mehdi Nekhili

The purpose of this paper is to consider the determinants of web‐based corporate reporting by French‐listed firms.

Abstract

Purpose

The purpose of this paper is to consider the determinants of web‐based corporate reporting by French‐listed firms.

Design/methodology/approach

The paper is based on a literature review of the determinants of web‐based corporate disclosures and is both descriptive and explicative. It analyzes the use of the internet to disseminate corporate information and examines the extent of web‐based corporate disclosure by developing a set of disclosure indexes. To test the authors' hypotheses, an OLS regression framework was estimated on a sample of 529 French‐listed firms in 2005.

Findings

Descriptive analysis shows that French firms are using the internet to disseminate existing rather than timely information. The results show that large‐sized firms, large‐audited firms, firms featuring a dispersed ownership structure, those that have issued bonds or equities and IT industry firms extensively used the web to disclose information to their shareholders. The results also show that voluntary disclosures are more suited for the internet than mandatory disclosures.

Research limitations/implications

The study does not cover all information provided on web sites, particularly those about the impact of IFRS on companies' accounts.

Practical implications

The findings are useful to both managers, wishing to meet actual and potential investors' informational needs and to investors wishing to invest in a richer informational environment and to better assess firm value.

Originality/value

This paper provides a better understanding of the choice of the internet to release information in the French context, where internet corporate reporting is not standardized as in the USA and Canada.

Details

Managerial Auditing Journal, vol. 27 no. 2
Type: Research Article
ISSN: 0268-6902

Keywords

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