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Mutual funds' performance after newspapers' news of the corruption of firms in their portfolios

Author

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  • Rodrigo Fernandes Malaquias
  • Vitor Fonseca Machado Beling Dias

Abstract

The main purpose of this research is to test the effect of the newspapers' news about a possible involvement in corruption of listed firms on the performance of mutual funds that invest in those firms. The main results showed that, on average, the newspapers' news of corruption negatively affected the performance of the mutual funds that allocated resources in companies with news about possible involvement in corruption. Sustainability-governance funds presented large adjusted shape ratio in relation to conventional funds, but they were also affected by the negative effects from newspapers' news of corruption relative to their invested firms. To the best of our knowledge, this is the first paper that conducts an analysis that involves news of corruption, listed companies and the performance of sustainability-governance funds.

Suggested Citation

  • Rodrigo Fernandes Malaquias & Vitor Fonseca Machado Beling Dias, 2024. "Mutual funds' performance after newspapers' news of the corruption of firms in their portfolios," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 25(5), pages 675-694.
    • Handle: RePEc:ids:ijbpma:v:25:y:2024:i:5:p:675-694
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