Mandatory portfolio disclosure, stock liquidity, and mutual fund performance
Mullally, Kevin Andrew
- Publisher: Cologne: University of Cologne, Centre for Financial Research (CFR)
mesheuropmc: health care economics and organizations
We examine the impact of mandatory portfolio disclosure by mutual funds on stock liquidity and fund performance. We develop a model of informed trading with disclosure and test its predictions using the SEC regulation in May 2004 requiring more frequent disclosure. Stoc...