Fund Industry Research Articles

Investigating the impact of 'dark nudges' on drinking intentions: A between groups, randomized and online experimental study.

This study explored how 'dark nudges' (tactics used in alcohol industry-funded responsible drinking campaigns) affect drinking intentions, perceived source credibility and whether individual differences in perceptions of prototypical drinkers moderated these effects. Two 2 × 2 between-groups online experimental studies. Study 1 (N = 164) presented three alcohol health messages per condition, comprising social norm (healthy/unhealthy ("dark nudge")) by frame (loss/gain). Study 2 (N = 229) presented one message per condition, comprising cancer causality (single cause/multiple causes (dark nudge)) by funding disclosure (disclosure/non-disclosure (dark nudge)). Outcomes were drinking intentions and perceived source credibility. Exploratory analyses considered prototype perceptions as a between-subjects moderator. No significant effects of message frame, social norm, fundi or multiple cancer causality arguments on drinking intentions were found. In Study 2, in the dark nudge multiple cancer causality conditions, perceived source credibility was high when funding was undisclosed, but significantly lower when it was disclosed. Exploratory analyses suggested effects were moderated by prototype similarity. In Study 1, higher perceived similarity to a heavy drinker and lower perceived similarity to a responsible drinker were associated with higher drinking intentions in the unhealthy norm/gain frame condition, but lower drinking intentions in the other conditions. Framing, social norm, funding disclosure and multiple causality manipulations as tested in this study did not exert a dark nudge effect on drinking intentions. However, the exploratory analyses suggest it could be hypothesised that the types of messages used in alcohol industry-funded responsible drinking campaigns may result in greater drinking intentions among those who identify more as heavy drinkers and less as responsible drinkers. Perceived prototype similarity may be an important moderator of the impact of alcohol health messages that warrants further research. Study 2 suggests disclosure of industry funding guides judgements of the credibility of sources of misleading messages about alcohol and cancer.

Association of funding and conflicts of interest on outcomes reported in published studies of Covid-19.

An outbreak of the Covid-19 has led to substantial mortality globally. The entire world is carrying out studies to understand the pathophysiology, clinical features, diagnosis and treatment of Covid-19. We investigated the possible association of type of funding, corporate or academic, and conflict of interests on the outcomes reported in clinical trials on Covid-19. Studies containing the keywords "clinical trial" AND "Covid 19" or "Corona" were located by a search on PubMed published between September 2019 to August 2021. Filters were used to select only papers in the English language and on "humans". The data were analysed using descriptive statistics and the Chi-square test. We found a significant association between the existence of a conflict of interest and reporting of a positive outcome (X2 value = 18.751, p less than 0.001). We also found a significant association between industry funding and reporting of a positive outcome (X2 value = 18.041, p less than 0.001). We conclude from this study that the presence of conflict of interest and pharmaceutical industry funding is associated with reporting a positive outcome.

Intervention of innovative education in ideological and political education in colleges and universities on anxiety symptoms of college students with mental disorders

BackgroundWith the increase in social pressure, the anxiety symptoms of college students with mental disorders are increasing year by year. This has harmed their living standards and learning outcomes. The current intervention measures largely overlook the impact of ideological and political education in universities.Subjects and MethodsThe study used a randomized controlled trial design. The experimental group (n=60) adopted innovative ideological and political education interventions, including group discussions, role-playing, and theme reports, with an intervention period of 12 months. The control group (n=60) received routine psychological counseling services. All participants were evaluated at the beginning, duration of 6 months, and end of the study. The Hamilton Anxiety Scale (HAM-A) was mainly used for evaluation. Descriptive and inferential statistical analysis was conducted on the data using SPSS 22.0.ResultsAfter the intervention, compared with the control group, the anxiety symptoms of the experimental group of college students were significantly reduced. After 12 months of intervention, the HAM-A score of the experimental group decreased by an average of 12.1 points, while the average decrease in the HAM-A score of the control group was 3.2 points. The follow-up evaluation also confirmed this result.ConclusionsThis study shows that innovative ideological and political education interventions are significantly superior to conventional psychological counseling services, and effectively reduce anxiety symptoms of college students with mental disorders in clinical practice.AcknowledgementThe 2020 Hubei Skilled Talent Training and Research Center Project (No. 20BJN014); 2020 China University Industry, University and Research Innovation Fund - New Generation Information Technology Innovation Project (No. 2020ITA02052).

INVESTORS ATTITUDE TOWARDS ONLINE AND OFFLINE TRADING OF MUTUAL FUNDS

Mutual fund as an investment avenue provides a platform to the investor who do not want to take high risk on their hard earned investment. In India, mutual fund industry is growing rapidly and this industry has emerged as an important segment of financial market of India, especially in channelizing and mobilizing the savings of millions of individuals into the investment in equity and debt instruments. Mutual fund investment is less risky than investing directly in stocks and is therefore a safer option for risk averse investor. A competent fund manager should analyze investor behavior, perception, and attitude and understand their needs and expectations to gear up the performance to meet investor expectations and requirements. Investment in mutual fund is affected by the attitude of investors and hence the objective of the study is to identify the investor's attitude on mutual fund as an investment avenue and the major findings reveal the factors that influence buying behavior of mutual fund investors.

A NOVEL THERAPEUTICS ACCELERATOR TO SUPPORT A STRONGER BRAIN TUMOUR TREATMENT PIPELINE

Abstract AIMS Despite several encouraging pre-clinical studies, few therapeutics make it to successful human trials. There is a need for a stronger new treatment pipeline to improve outcomes for patients with brain tumours. The Tessa Jowell Brain Cancer Mission have launched the Brain Tumour Research Novel Therapeutics Accelerator (BTR- NTA) to provide bespoke advice and support to scientists and help position their therapeutic along a realistic pathway to clinical trials METHOD The BTR-NTA programme is supported by an international committee of brain tumour, pre-clinical science, and pharmaceutical experts who meet twice yearly to review up to five novel brain tumour therapeutics. Both academic and industry applicants, at any stage of pre-clinical or clinical work, can apply and submit their work to date before meeting with the BTR-NTA committee to discuss their therapeutic and progress. The committee then provides a written feedback report with advice and recommendations on next steps. The committee will also facilitate connections with industry partners and funders where possible. RESULTS It is hoped that BTR-NTA will provide benefits for the whole brain tumour community by: increasing the number of brain tumour therapeutics reaching patients; providing applicants with constructive feedback so that avoidable pitfalls can be overcome; strengthening international relationships between academics, industry, government, and regulatory bodies; and de-risking investment into brain tumour therapeutics for funders. CONCLUSIONS The first BTR-NTA meeting will be held in November 2023, with applications opening mid-2023.

Establishing a stakeholder group for primary care focused cancer research in Ireland

Introduction: Currently, no group specifically supports and coordinates primary care focused cancer research in Ireland. The aim of this project is to establish an inclusive stakeholder group for primary care focused cancer research in Ireland, to coordinate research efforts and build capacity in researchers and institutions. Methods: We will convene a stakeholder group, recruiting individuals with personal and professional experience of cancer care in a community setting. “Core stakeholders”—patients, clinicians, researchers, and policymakers—will attend regularly. Additional “specialist stakeholders”, such as representatives of secondary care, private healthcare, health insurance, industry, cancer charities, and health research funders, will participate on an ad hoc basis. An e-Delphi consensus process will be used to assess the stakeholders’ views on: (1) the relevance and importance of primary care focused cancer research; (2) the potential role and scope of the stakeholder group; (3) how best to engage with lived experience stakeholders and healthcare professionals affected by the research; (4) how best to disseminate results and advocate for translation of findings into practice. Round 1 will be open-ended and will invite the independent suggestions of stakeholders; in Round 2 and 3, group members will vote on the inclusion of these suggestions in a position statement by the group, with consensus defined as ≥75% agreement. Discussion: The formation of a broad stakeholder group to support primary care focused cancer research will ensure research is relevant, patient centered, and more readily translated into practice. It is also hoped that the group will support capacity building and strategic planning in this important research space.

Pharmacological and electronic cigarette interventions for smoking cessation in adults: component network meta-analyses.

Pharmacological and electronic cigarette interventions for smoking cessation in adults: component network meta-analyses.

The distribution of industry payments among pediatric dermatologists from 2015 to 2021.

To understand the landscape of industry payments to pediatric dermatologists to foster transparency and identify potential disparities in funding. Using the Centers for Medicare and Medicaid Services (CMS) Open Payments database, a national cross-sectional study was performed examining payments to pediatric dermatologists from 2015 to 2021. Of the 147 pediatric dermatologists who received industry funding, 35 were male and 112 were female. $9 million in payments was amassed, with 10% of pediatric dermatologists accounting for 94% of total industry payments. Consulting was the most common service, with Pfizer Inc., Amgen Inc., and Regeneron Healthcare Solutions Inc. representing the top three companies. Mean payment was $143,836 for males and $35,943 for females (p < .001). Eight female and seven male pediatric dermatologists received payments in the top 10th percentile, with different average payment in this subgroup (females $447,588 vs. males $698,746, p = .03). 11 states did not have a pediatric dermatologist receiving industry payments, while California (19) and Texas (12) had the most. There are approximately 400 board-certified pediatric dermatologists in the United States and fewer than 40% are receiving monetary compensation from private industry. A fraction of physicians accounted for a majority of total industry payments and industry payments to male pediatric dermatologists were higher despite nearly triple the number of female pediatric dermatologists. With the rise of valuable partnerships between healthcare and industry in modern medicine, the implications of geographic, gender, and financial disparity of industry payments in pediatric dermatology are worthy of further study.

An Exploration of the Assessment of Risk and Return within SBI's Equity Mutual Funds

The mutual fund industry in India originated in 1963 with the establishment of the Unit Trust of India, a collaborative effort between the Indian government and the Reserve Bank of India. In recent times, mutual funds have gained substantial prominence, not only on a global scale but notably within India as well. Mutual fund companies are consistently introducing innovative strategies to appeal to a broader customer base. This research paper seeks to offer a comprehensive understanding of mutual funds, their diverse array of investment options, and an in-depth analysis of the associated risk and return factors like mean return, standard deviation and Sharpe ratio. Additionally, it focuses on the performance evaluation of specific SBI Equity Mutual Fund schemes, which play a significant role in the Indian economy. In summary, this paper explores the historical evolution of the mutual fund sector in India, the contemporary trends in the industry, and the specific focus on SBI Equity Mutual Fund schemes in terms of their performance and impact on the Indian financial landscape. Keywords: Risk, Return, SBI equity mutual fund, financial landscape, Standard deviation, Sharpe ratio.

How does oil market volatility impact mutual fund performance?

The aim of this paper is twofold. First, we investigate whether oil market volatility affects fund performance. Second, we examine whether oil volatility impacts fund managers' ability to select stocks and to time oil volatility. Our analysis is based on the Saudi Arabian market, a major developing economy and the world's largest oil producer. Our first main finding is that oil market volatility has a significant negative impact on mutual fund performance. Notably, this result holds robustly across all the volatility and performance measures applied in our analysis. Secondly, the risk-adjusted performance evidence suggests that high oil volatility reduces managers' stock selection ability. Further empirical analysis is consistent with the notion that skilled mutual funds are able to consistently generate alpha but evidence is mixed on whether they can improve performance by timing oil market volatility. Our study presents new evidence on a fast-growing emerging market and identifies important practical implications for the mutual fund industry which help investors, academics and regulators to better understand the functioning of this market.

Indirect effects of flow-performance sensitivity on fund performance

This study examines changes in the flow-performance sensitivity (FPS) among funds of hedge funds (FoHFs) after the global financial crisis and the Madoff scandal. We also explore whether these changes in FPS affect fund performance. After the crisis, investors in FoHFs began to prioritize fund reliability over fund performance, particularly in the case of young and small FoHFs with limited track records and investor bases. As a result, the overall FPS of FoHFs decreased in the post-crisis period, primarily due to decreases in FPS among young and small FoHFs. Furthermore, we observe that funds with lower sensitivity exhibit significantly worse performance than those with higher sensitivity. These results are robust to both risk-adjusted and relative performance measures. Our findings suggest that the performance-based incentive structure prevalent in the hedge fund industry imperfectly aligns fund managers’ interests with those of investors and that FPS plays a positive role in driving fund performance.

Does Corporate Cash Holding Level Explain Mutual Fund Flow? Global Evidence

This study investigates the influence of corporate cash holdings on the flow of open-end equity mutual funds. Building on the economic mechanisms that drive investors’ decisions when they construct their portfolio, the study analyses a comprehensive global dataset that includes 13,674 firms and 58,406 funds from 23 countries for the period from 2008 to 2017. Multiple regression models (pooled and fixed effect) are implemented to explore this relationship. The results show that there is a negative relationship between mutual fund flow and corporate cash holdings which indicates the significant role corporate cash holding policies have on the mutual fund industry. This article contributes to the literature by adding a new factor that can explain mutual fund investors’ behaviour. To the best of our knowledge, it is the first study to examine the relationship between corporate cash holdings and mutual fund flow, and one of the few studies to examine the influence of corporate-level decisions on the mutual fund industry. The results could help fund managers to better forecast future fund flow by considering corporate-level policies, namely cash holdings.

Trends in Research Payments for Diabetic Macular Edema from 2015 to 2021

To evaluate characteristics of research payments for diabetic macular edema (DME) studies and correlations to current management trends. Retrospective cross-sectional study. Research payments for DME. Studies with keywords of "diabetic macular edema" or "DME" in the title were extracted from the Centers of Medicare & Medicaid Services Open Payments database from 2015 to 2021. Recipients, payors, and payment amounts were identified. Industry funding was compared with public research funding by the National Eye Institute (NEI). Trends and total value of industry and public fundings for DME from 2015 to2021. From 2015 to 2021, 451 beneficiaries received 6062 industry payments for a total of $120 148 997.41 for DME-related research. The total value of industry funding increased from $8 225 859.08 in 2015 to $50 092 778.45 in 2021. Of the 6062 industry payments, 5367 (88.5%) were reported by male recipients compared with 695 (11.5%) female beneficiaries. Payments to female recipients increased from 60 (7.1%) in 2015 to 335 (13.7%) in 2021. In comparison, public funding for DME-related research from the NEI was comprised of $18 863 266.00 to 17 principal investigators from 2015 to 2021. The total value of public funding increased from $973 590.00 in 2015 to $3 354 376.00 in 2021. Of 59 public research payments, 46 (78.0%) were reported by male recipients and 13 (22.0%) by female recipients. Payments to female recipients increased from 1 (25.0%) in 2015 to 3 (30.0%) in 2021. The most highly invested product by industry were anti-VEGF agents, accounting for $89 955 595.20 (74.9%) of total payment value. There was an increase in both industry and public-sponsored funding for DME-related research from 2015 to 2021. There seemed to be a possible discrepancy in both industry and public funding based on sex for DME studies during the study period. Proprietary or commercial disclosure may be found in the Footnotes and Disclosures at the end of this article.

Emerging Trends in Mutual Funds in Asset Management Companies: A Select Study

Emerging market trends are given different types mutual funds that are invest the majority of assets in the stock dominoes in which leads to shows index its performance. These funds provide exposure to stock in like Asian, Latin America, Africa and European market are created emerging trends of various stocks of capitalization. They can be indeed or actively managed fund managers are merchant bankers. These countries are in an emerging growth phase and offer high potential return with higher risk than developing marketing opportunities of the 2020-2023, a roller-coaster ride for everyone including the mutual fund industry. For various reasons, the industry underwent a lot of changes need to design the countries trending markets. Treading market domains of mutual funds can be identified by the market index as provides and are defined by the various characteristics prevailing to the country. The primary investment objective of funds seeks to provide long term capital growth by investing in corporate entities, firm’s requirements through mutual funds. Emerging opportunities of an equity. Which are invest primarily in an aggressively managed portfolio in these market trends of the companies. This fund may also invest a part of its corpus funds in unit of its liquidity requirement from time to time and also the funds does not guarantee/ Indicate assured return, this is the best performing emerging market funds available in the least expense ratio. This is move in the aims at making multi- cap funds true to label and hold a well- diversified portfolio. Most of the multi- cap funds had a large cap bias with almost minimum or no investments in small- cap stocks many fund houses spoke about converting their existing multi cap schemes to ESG funds or Focused funds to avoid the new moderate market trends. According to SEBI new policies multi-cap fund minimum is 25% to equity exposure is 65% no cap limit.

Taper Integration &amp; Risk-Taking: Evidence from the Mutual Funds Industry

Taper Integration &amp; Risk-Taking: Evidence from the Mutual Funds Industry

Industry payments to family medicine residents in Portugal: a descriptive analysis of the national transparency database

ObjectiveTo analyse payments made to family medicine residents by the pharmaceutical industry during their residency in Portugal, using mandatory disclosure data.Design and participantsCohort study of residents starting their family medicine...

Fire sale risk and expected stock returns

We measure a stock’s exposure to fire sale risk through its ownership links to mutual funds that anticipate significant outflows during periods of systematic outflows from the fund industry. We find that stocks with higher exposure to this risk earn higher average returns: a portfolio that buys (shorts) stocks with the highest (lowest) exposure outperforms by 3-7% annually. Our findings cannot be explained by several known determinants of average returns and support the ex-ante pricing of the risk of fire sales. We conclude that stocks’ exposures to risks inherited from the constraints of shareholders have important implications for stock prices.

What drives diversity hiring in the mutual fund management industry?

Although labor force racial diversity has improved significantly over past decades, minorities remain underrepresented in finance. A lack of racial diversity is particularly worrisome in prestigious occupations. This paper examines diversity hiring in the mutual fund industry from 1991 to 2019. Our results reveal that minority managers are more likely to have attended top schools and have quantitative backgrounds. We find strong and persistent evidence that large and racially diverse funds are more likely to hire minority managers. We suggest that minority managers pursue higher levels of credentials to overcome in-group bias and homophily in the mutual fund industry.

An economic and financial geography of the Australian superannuation industry

AbstractThe Australian superannuation industry has grown enormously over the past 30 years. Whereas working people are automatically enrolled at their workplaces, the head offices of many industry funds are in Melbourne rather than Sydney. Melbourne’s dominance of the superannuation industry is explained, in part, by happenstance—the location of major unions and employer groups and their initiatives in response to the enabling legislation. Other factors identified include opportunism, cooperation, and the advantages of growth. Government‐prompted mergers and acquisitions have also reinforced the dominance of Melbourne, notwithstanding attempts by Sydney‐based superannuation funds to out‐compete their Melbourne rivals. Whereas the geographical bifurcation of the Australian superannuation industry has been mediated by the formation of a Queensland‐based superfund “champion,” it is suggested that it faces numerous challenges. In conclusion, avenues for future research are sketched, focusing upon the future of Melbourne as the centre of the superannuation industry, the role of digital platforms in service delivery, pension adequacy, and the increasing importance of Australian funds in global financial markets.

Teaching benefits of multi-helix university-industry research collaborations: Towards a holistic framework

Despite universities' effort towards contributing to society and economy through multi-helix or multi-party university-industry research collaborations (UIRCs) involving industry, government and community organisations, the impact of such activities on teaching remains unclear. This paper aims to fill this research lacuna. Using a multiple case study approach, the paper provides evidence from seven multi-helix UIRCs taking place in five Indian universities. We first unveil the different roles played by individual actors from the collaborating partner organisations involved in the multi-helix UIRCs, specifically industry scientists (from the collaborating partner company), funding administrators (from the governmental funding body that sponsors the collaboration), community representatives (from the collaborating community organisation) and UIRC-affiliated academics involved in the teaching activities of the collaborating university. Then, we explain various individual-level and organisational-level conditions that enable and constrain these actors' involvement in teaching, and ultimately their efficacy. These findings help us develop a holistic framework for involving UIRC actors in teaching at partner universities.