Essec\Faculty\Model\Profile {#2216
#_id: "B00148056"
#_source: array:40 [
"bid" => "B00148056"
"academId" => "2095"
"slug" => "yadav-vijay"
"fullName" => "Vijay YADAV"
"lastName" => "YADAV"
"firstName" => "Vijay"
"title" => array:2 [
"fr" => "Professeur associé"
"en" => "Associate Professor"
]
"email" => "yadav@essec.edu"
"status" => "ACTIF"
"campus" => "Campus de Singapour"
"departments" => []
"phone" => "+65 6413 9464"
"sites" => []
"facNumber" => "2095"
"externalCvUrl" => "https://faculty.essec.edu/en/cv/yadav-vijay/pdf"
"googleScholarUrl" => "https://scholar.google.com/citations?hl=fr&user=OWcjUC4AAAAJ"
"facOrcId" => "https://orcid.org/0000-0003-4657-3851"
"career" => array:4 [
0 => Essec\Faculty\Model\CareerItem {#2219
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2011-07-01"
"endDate" => "2017-08-31"
"isInternalPosition" => true
"type" => array:2 [
"fr" => "Positions académiques principales"
"en" => "Full-time academic appointments"
]
"label" => array:2 [
"fr" => "Professeur assistant"
"en" => "Assistant Professor"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "Singapour"
"en" => "Singapore"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\CareerItem {#2222
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2017-09-01"
"endDate" => null
"isInternalPosition" => true
"type" => array:2 [
"fr" => "Positions académiques principales"
"en" => "Full-time academic appointments"
]
"label" => array:2 [
"fr" => "Professeur associé"
"en" => "Associate Professor"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "Singapour"
"en" => "Singapore"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\CareerItem {#2223
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "1998-01-01"
"endDate" => "2002-06-30"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Professional appointments"
"fr" => "Positions professionnelles"
]
"label" => array:2 [
"fr" => "Responsable de la Recherche"
"en" => "Research Officer"
]
"institution" => array:2 [
"fr" => "Reserve Bank of India"
"en" => "Reserve Bank of India"
]
"country" => array:2 [
"fr" => "Inde"
"en" => "India"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\CareerItem {#2224
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2002-07-01"
"endDate" => "2006-12-31"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Professional appointments"
"fr" => "Positions professionnelles"
]
"label" => array:2 [
"fr" => "Conseiller Assistant"
"en" => "Assistant Adviser"
]
"institution" => array:2 [
"fr" => "Reserve Bank of India"
"en" => "Reserve Bank of India"
]
"country" => array:2 [
"fr" => "Inde"
"en" => "India"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"diplomes" => array:4 [
0 => Essec\Faculty\Model\Diplome {#2218
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "2011"
"label" => array:2 [
"en" => "Ph.D. in Management"
"fr" => "Ph.D. en Management"
]
"institution" => array:2 [
"fr" => "INSEAD"
"en" => "INSEAD"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\Diplome {#2220
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "2008"
"label" => array:2 [
"en" => "M.Sc. in Management"
"fr" => "M.Sc. en Management"
]
"institution" => array:2 [
"fr" => "INSEAD"
"en" => "INSEAD"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\Diplome {#2217
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "2006"
"label" => array:2 [
"en" => "M.Phil. (Development Economics)"
"fr" => "M.Phil. (Economie du développement)"
]
"institution" => array:2 [
"fr" => "Indira Gandhi Institute of Development Research"
"en" => "Indira Gandhi Institute of Development Research"
]
"country" => array:2 [
"fr" => "Inde"
"en" => "India"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\Diplome {#2221
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "1996"
"label" => array:2 [
"en" => "Master of Statistics"
"fr" => "Master de Statistiques"
]
"institution" => array:2 [
"fr" => "Indian Statistical Institute"
"en" => "Indian Statistical Institute"
]
"country" => array:2 [
"fr" => "Inde"
"en" => "India"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"bio" => array:2 [
"fr" => null
"en" => null
]
"department" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"site" => array:2 [
"fr" => null
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]
"industrrySectors" => array:2 [
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]
"researchFields" => array:2 [
"fr" => "institutions financières - Econométrie - modélisation financières"
"en" => "institutions financières - Econometrics - financial modelling"
]
"teachingFields" => array:2 [
"fr" => "Comptabilité financière et audit - Finance d'entreprise"
"en" => "Financial Accounting & auditing - Corporate Finance"
]
"distinctions" => array:6 [
0 => Essec\Faculty\Model\Distinction {#2225
#_index: null
#_id: null
#_source: array:6 [
"date" => "2015-12-01"
"label" => array:2 [
"fr" => "Prix de l’Institut CFA Asia Pacific Capital Markets pour son article: "Fight Inside the Wrapper: The Balance of Power between Insurance Companies and Asset Management Companies," co-écrit avec le Professeur Massimo Massa."
"en" => "Asia Pacific Capital Markets Research Award, CFA Institute, for the paper “Fight Inside the Wrapper: The Balance of Power between Insurance Companies and Asset Management Companies,” (coauthored with Professor Massimo Massa)."
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\Distinction {#2226
#_index: null
#_id: null
#_source: array:6 [
"date" => "2011-04-15"
"label" => array:2 [
"fr" => "Prix du meilleur article étudiant de la conférence européenne FMA pour "Portfolio matching by multi-fund managers : Effects on fund performance and flow""
"en" => "Best student paper award in the FMA European Conference with "Portfolio matching by multi-fund managers : Effects on fund performance and flow""
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\Distinction {#2227
#_index: null
#_id: null
#_source: array:6 [
"date" => "2010-12-15"
"label" => array:2 [
"fr" => "BlackRock Research Award at the 23rd Australasian Finance and Banking Conference"
"en" => "BlackRock Research Award at the 23rd Australasian Finance and Banking Conference, Sydney, December 2010, for the paper “Portfolio matching by multi-fund managers”"
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\Distinction {#2228
#_index: null
#_id: null
#_source: array:6 [
"date" => "2003-07-01"
"label" => array:2 [
"fr" => "Reserve Bank of India fellowship for M.Phil. In Development Economics à l'Indira Gandhi Institute of Development Research, Mumbai"
"en" => "Reserve Bank of India fellowship for M.Phil. In Development Economics at Indira Gandhi Institute of Development Research, Mumbai"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
4 => Essec\Faculty\Model\Distinction {#2229
#_index: null
#_id: null
#_source: array:6 [
"date" => "1996-07-01"
"label" => array:2 [
"fr" => "Junior Research Fellowship and Eligibility for Lecturership Award du Council of Scientific and Industrial Research, India, and University Grants Commission, India"
"en" => "Junior Research Fellowship and Eligibility for Lecturership Award from the Council of Scientific and Industrial Research, India, and University Grants Commission, India"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
5 => Essec\Faculty\Model\Distinction {#2230
#_index: null
#_id: null
#_source: array:6 [
"date" => "1994-07-01"
"label" => array:2 [
"fr" => "Indian Statistical Institute Scholarship for Master of Statistics"
"en" => "Indian Statistical Institute Scholarship for Master of Statistics"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"teaching" => array:1 [
0 => Essec\Faculty\Model\TeachingItem {#2215
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2014"
"endDate" => "2019"
"program" => null
"label" => array:2 [
"fr" => "Essays on mutual funds"
"en" => "Essays on mutual funds"
]
"type" => array:2 [
"fr" => "Co-directeur de thèse"
"en" => "Thesis co-director"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
}
]
"otherActivities" => []
"theses" => array:1 [
0 => Essec\Faculty\Model\These {#2231
#_index: null
#_id: null
#_source: array:9 [
"year" => "2019"
"startDate" => "2014"
"endDate" => "2019"
"student" => "COVACHEV Svetoslav"
"firstJob" => "Risk Data Scientist - UniCredit Bulbank"
"label" => array:2 [
"fr" => "Essays on mutual funds"
"en" => "Essays on mutual funds"
]
"role" => array:2 [
"fr" => "Co-directeur de thèse"
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]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"indexedAt" => "2024-11-21T14:21:22.000Z"
"contributions" => array:12 [
0 => Essec\Faculty\Model\Contribution {#2233
#_index: "academ_contributions"
#_id: "1197"
#_source: array:18 [
"id" => "1197"
"slug" => "family-ownership-country-governance-and-foreign-portfolio-investment"
"yearMonth" => "2017-03"
"year" => "2017"
"title" => "Family Ownership, Country Governance, And Foreign Portfolio Investment"
"description" => "BODNARUK, A., MASSA, M. et YADAV, V. (2017). Family Ownership, Country Governance, And Foreign Portfolio Investment. <i>Journal of Empirical Finance</i>, 41, pp. 96-115."
"authors" => array:3 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "BODNARUK A."
]
2 => array:1 [
"name" => "MASSA M."
]
]
"ouvrage" => ""
"keywords" => array:4 [
0 => "Corporate governance"
1 => "Foreign investment"
2 => "Ownership structure"
3 => "Family firms"
]
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => "https://www.sciencedirect.com/science/article/abs/pii/S092753981730004X"
"publicationInfo" => array:3 [
"pages" => "96-115"
"volume" => "41"
"number" => null
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We study how different dimensions of family ownership combine to make family firms around the world appealing to foreign investors. Family firms provide the benefits of political connections, but at the same time they are more prone to expropriate minority shareholders themselves. This cost-benefit trade-off depends on the quality of country governance: families are attractive investment opportunities in countries in which the value of political connections is high, but the majority shareholders have limited ability to expropriate, i.e., “useful” countries. Foreign investors – more sensitive both to the risk of expropriation by the government and to the risk of expropriation by majority shareholders – are particularly responsive to this trade-off. While on average foreign institutional investors are less likely to invest in family firms and such firms have lower value, these effects disappear when family ownership in a country is useful."
"en" => "We study how different dimensions of family ownership combine to make family firms around the world appealing to foreign investors. Family firms provide the benefits of political connections, but at the same time they are more prone to expropriate minority shareholders themselves. This cost-benefit trade-off depends on the quality of country governance: families are attractive investment opportunities in countries in which the value of political connections is high, but the majority shareholders have limited ability to expropriate, i.e., “useful” countries. Foreign investors – more sensitive both to the risk of expropriation by the government and to the risk of expropriation by majority shareholders – are particularly responsive to this trade-off. While on average foreign institutional investors are less likely to invest in family firms and such firms have lower value, these effects disappear when family ownership in a country is useful."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
1 => Essec\Faculty\Model\Contribution {#2235
#_index: "academ_contributions"
#_id: "5370"
#_source: array:18 [
"id" => "5370"
"slug" => "actual-daily-share-buybacks-in-india"
"yearMonth" => "2015-06"
"year" => "2015"
"title" => "Actual Daily Share Buybacks In India"
"description" => "YADAV, V. (2015). Actual Daily Share Buybacks In India. Dans: 32nd International Conference of the French Finance Association 2015 (AFFI 2015)."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => "32nd International Conference of the French Finance Association 2015 (AFFI 2015)"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
2 => Essec\Faculty\Model\Contribution {#2237
#_index: "academ_contributions"
#_id: "1415"
#_source: array:18 [
"id" => "1415"
"slug" => "investor-sentiment-and-mutual-fund-strategies"
"yearMonth" => "2015-08"
"year" => "2015"
"title" => "Investor Sentiment and Mutual Fund Strategies"
"description" => "MASSIMO, M. et YADAV, V. (2015). Investor Sentiment and Mutual Fund Strategies. <i>Journal of Financial and Quantitative Analysis</i>, 50(4), pp. 699-727."
"authors" => array:2 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "MASSIMO M."
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-02-02 16:16:18"
"publicationUrl" => "https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/abs/investor-sentiment-and-mutual-fund-strategies/24653BF40CE3ABD72F5AE00881260D73"
"publicationInfo" => array:3 [
"pages" => "699-727"
"volume" => "50"
"number" => "4"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We show that mutual funds employ portfolio strategies based on market sentiment. We build a proxy for the degree of a fund’s sentiment beta (or FSB). The low FSB funds outperform high FSB funds, even after controlling for standard risk factors and fund characteristics. This effect is sizable and delivers a net-of-risk performance of 3.8% per year. Funds with lower FSB follow more idiosyncratic strategies, suggesting that FSB is deliberate active choice of the fund manager. A sentiment contrarian strategy leads to high flows due to its superior performance, whereas a sentiment catering strategy fails to attract significant investor flows."
"en" => "We show that mutual funds employ portfolio strategies based on market sentiment. We build a proxy for the degree of a fund’s sentiment beta (or FSB). The low FSB funds outperform high FSB funds, even after controlling for standard risk factors and fund characteristics. This effect is sizable and delivers a net-of-risk performance of 3.8% per year. Funds with lower FSB follow more idiosyncratic strategies, suggesting that FSB is deliberate active choice of the fund manager. A sentiment contrarian strategy leads to high flows due to its superior performance, whereas a sentiment catering strategy fails to attract significant investor flows."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
3 => Essec\Faculty\Model\Contribution {#2234
#_index: "academ_contributions"
#_id: "5968"
#_source: array:18 [
"id" => "5968"
"slug" => "fight-inside-the-wrapper-the-balance-of-power-between-insurance-companies-and-asset-management"
"yearMonth" => "2016-07"
"year" => "2016"
"title" => "Fight Inside the Wrapper: The Balance of Power between Insurance Companies and Asset Management"
"description" => "MASSA, M. et YADAV, V. (2016). Fight Inside the Wrapper: The Balance of Power between Insurance Companies and Asset Management. Dans: 25th European Financial Management Association (EFMA) Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "MASSA M."
]
]
"ouvrage" => "25th European Financial Management Association (EFMA) Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
4 => Essec\Faculty\Model\Contribution {#2238
#_index: "academ_contributions"
#_id: "5969"
#_source: array:18 [
"id" => "5969"
"slug" => "fight-inside-the-wrapper-the-balance-of-power-between-insurance-companies-and-asset-management-companies"
"yearMonth" => "2015-12"
"year" => "2015"
"title" => "Fight Inside the Wrapper: The Balance of Power Between Insurance Companies and Asset Management Companies"
"description" => "MASSA, M. et YADAV, V. (2015). Fight Inside the Wrapper: The Balance of Power Between Insurance Companies and Asset Management Companies. Dans: 28th Australasian Finance and Banking Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "MASSA M."
]
]
"ouvrage" => "28th Australasian Finance and Banking Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
5 => Essec\Faculty\Model\Contribution {#2232
#_index: "academ_contributions"
#_id: "6030"
#_source: array:18 [
"id" => "6030"
"slug" => "fund-size-and-performance-evidence-from-daily-returns"
"yearMonth" => "2018-12"
"year" => "2018"
"title" => "Fund Size and Performance: Evidence from Daily Returns"
"description" => "YADAV, V. (2018). Fund Size and Performance: Evidence from Daily Returns. Dans: 31st Australasian Finance and Banking Conference 2018."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => "31st Australasian Finance and Banking Conference 2018"
"keywords" => []
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
6 => Essec\Faculty\Model\Contribution {#2236
#_index: "academ_contributions"
#_id: "720"
#_source: array:18 [
"id" => "720"
"slug" => "better-than-expected-hidden-dynamic-of-variable-annuity-funds"
"yearMonth" => "2016-01"
"year" => "2016"
"title" => "Better than Expected: Hidden Dynamic of Variable Annuity Funds"
"description" => "MASSA, M. et YADAV, V. (2016). Better than Expected: Hidden Dynamic of Variable Annuity Funds. <i>Review of Finance (ex European Finance Review)</i>, 20(6), pp. 2273-2320."
"authors" => array:2 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "MASSA M."
]
]
"ouvrage" => ""
"keywords" => array:2 [
0 => "Capital Structure and Dividend Policy"
1 => "Mutual Funds and Institutional Investors"
]
"updatedAt" => "2021-02-02 16:16:18"
"publicationUrl" => "https://academic.oup.com/rof/article-abstract/20/6/2273/2418141?redirectedFrom=fulltext"
"publicationInfo" => array:3 [
"pages" => "2273-2320"
"volume" => "20"
"number" => "6"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We study how variable annuity affiliation affects fund performance. We find that VA-affiliated funds outperform pure open-end funds by about 70 basis points fourfactor alpha per year in case of actively managed US equity funds. We argue that affiliation with a variable annuity wrapper increases the ability of investors to compare performance of funds offered within the same wrapper. This increases the competitive pressure among fund families. We explain the superior performance of VA-affiliated funds in terms of self-selection: only the better funds are chosen by fund families to be part of insurance wrappers."
"en" => "We study how variable annuity affiliation affects fund performance. We find that VA-affiliated funds outperform pure open-end funds by about 70 basis points fourfactor alpha per year in case of actively managed US equity funds. We argue that affiliation with a variable annuity wrapper increases the ability of investors to compare performance of funds offered within the same wrapper. This increases the competitive pressure among fund families. We explain the superior performance of VA-affiliated funds in terms of self-selection: only the better funds are chosen by fund families to be part of insurance wrappers."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
7 => Essec\Faculty\Model\Contribution {#2239
#_index: "academ_contributions"
#_id: "2574"
#_source: array:18 [
"id" => "2574"
"slug" => "tax-preferences-of-investors-and-fund-investments"
"yearMonth" => "2016-06"
"year" => "2016"
"title" => "Tax Preferences of Investors and Fund Investments"
"description" => "YADAV, V. (2016). Tax Preferences of Investors and Fund Investments. <i>Economics Letters</i>, 143, pp. 90-93."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-02-02 16:16:18"
"publicationUrl" => "https://doi.org/10.1016/j.econlet.2016.03.026"
"publicationInfo" => array:3 [
"pages" => "90-93"
"volume" => "143"
"number" => null
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Funds must distribute all dividends and net realized short-term and long-term capital gains to their investors each year. Investors have to pay tax on these distributions. We find that funds whose distributions are taxable pay lower dividends than funds whose distributions are tax-deferred. Taxable funds also distribute relatively lower short-term and long-term capital gains. This suggests that funds take into account the tax preferences of their investors in making investment decisions."
"en" => "Funds must distribute all dividends and net realized short-term and long-term capital gains to their investors each year. Investors have to pay tax on these distributions. We find that funds whose distributions are taxable pay lower dividends than funds whose distributions are tax-deferred. Taxable funds also distribute relatively lower short-term and long-term capital gains. This suggests that funds take into account the tax preferences of their investors in making investment decisions."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
8 => Essec\Faculty\Model\Contribution {#2240
#_index: "academ_contributions"
#_id: "7436"
#_source: array:18 [
"id" => "7436"
"slug" => "the-settlement-period-effect-in-stock-returns-around-the-dividend-payment-days"
"yearMonth" => "2012-10"
"year" => "2012"
"title" => "The Settlement Period Effect in Stock Returns Around the Dividend Payment Days"
"description" => "YADAV, V. (2012). The Settlement Period Effect in Stock Returns Around the Dividend Payment Days. Dans: 2012 Annual Meeting of the Financial Management Association."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => "2012 Annual Meeting of the Financial Management Association"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
9 => Essec\Faculty\Model\Contribution {#2241
#_index: "academ_contributions"
#_id: "10429"
#_source: array:18 [
"id" => "10429"
"slug" => "portfolio-matching-by-multi-fund-managers-effects-on-fund-performance-and-flow"
"yearMonth" => "2011-06"
"year" => "2011"
"title" => "Portfolio matching by multi-fund managers: Effects on fund performance and flow"
"description" => "YADAV, V. (2011). <i>Portfolio matching by multi-fund managers: Effects on fund performance and flow</i>."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-07-13 14:31:35"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Documents de travail"
"en" => "Working Papers"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => """
Multi-fund managers are defined to be low-match managers or high-match managers according to\n
whether they hold low or high fraction of common holdings across the different funds they manage. I show that high-match managers perform significantly better than lowmatch\n
managers. The star performance of a fund results in high level of new money flows not only to the fund but also to other funds managed by its manager. Therefore, all multi-fund managers have an incentive to create low-match portfolios in order to increase the probability of generating at least one star fund. However, high-ability managers have high-match portfolios because they can identify good stocks and hold these stocks in all of their funds.
"""
"en" => """
Multi-fund managers are defined to be low-match managers or high-match managers according to\n
whether they hold low or high fraction of common holdings across the different funds they manage. I show that high-match managers perform significantly better than lowmatch\n
managers. The star performance of a fund results in high level of new money flows not only to the fund but also to other funds managed by its manager. Therefore, all multi-fund managers have an incentive to create low-match portfolios in order to increase the probability of generating at least one star fund. However, high-ability managers have high-match portfolios because they can identify good stocks and hold these stocks in all of their funds.
"""
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
10 => Essec\Faculty\Model\Contribution {#2242
#_index: "academ_contributions"
#_id: "10435"
#_source: array:18 [
"id" => "10435"
"slug" => "the-settlement-period-effect-in-stock-returns-around-the-dividend-payment-days"
"yearMonth" => "2011-06"
"year" => "2011"
"title" => "The settlement period effect in stock returns around the dividend payment days"
"description" => "YADAV, V. (2011). <i>The settlement period effect in stock returns around the dividend payment days</i>."
"authors" => array:1 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-07-13 14:31:35"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Documents de travail"
"en" => "Working Papers"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "I show that there are significant abnormal returns on the third business day before the dividend payment days for the dividend paying stocks traded on NYSE, AMEX and NASDAQ during 1998-2008. I argue that the abnormal returns three days before the payment day are a result of the tendency of investors to reinvest the dividends of a stock to buy more shares of the same stock. The T+3 settlement rule for stock trades makes it possible for these investors to give buy orders to their brokers three days before the payment day for a trade to be settled on the dividend payment day. The dividend amount to be received on the payment day can be used by the broker to settle the trade on the payment day. Evidence from high-frequency trades confirms that the abnormal returns are indeed a result of the price-pressure due to dividend reinvestments."
"en" => "I show that there are significant abnormal returns on the third business day before the dividend payment days for the dividend paying stocks traded on NYSE, AMEX and NASDAQ during 1998-2008. I argue that the abnormal returns three days before the payment day are a result of the tendency of investors to reinvest the dividends of a stock to buy more shares of the same stock. The T+3 settlement rule for stock trades makes it possible for these investors to give buy orders to their brokers three days before the payment day for a trade to be settled on the dividend payment day. The dividend amount to be received on the payment day can be used by the broker to settle the trade on the payment day. Evidence from high-frequency trades confirms that the abnormal returns are indeed a result of the price-pressure due to dividend reinvestments."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
11 => Essec\Faculty\Model\Contribution {#2243
#_index: "academ_contributions"
#_id: "14437"
#_source: array:18 [
"id" => "14437"
"slug" => "effect-of-sectoral-holdings-on-the-flow-performance-sensitivity-of-mutual-funds"
"yearMonth" => "2024-01"
"year" => "2024"
"title" => "Effect of sectoral holdings on the flow-performance sensitivity of mutual funds"
"description" => "COVACHEV, S. et YADAV, V. (2024). Effect of sectoral holdings on the flow-performance sensitivity of mutual funds. <i>The North American Journal of Economics and Finance</i>, 69, pp. 102014."
"authors" => array:2 [
0 => array:3 [
"name" => "YADAV Vijay"
"bid" => "B00148056"
"slug" => "yadav-vijay"
]
1 => array:1 [
"name" => "COVACHEV Svetoslav"
]
]
"ouvrage" => ""
"keywords" => array:5 [
0 => "Mutual funds"
1 => "Performance"
2 => "Flows"
3 => "Sectors"
4 => "Holdings"
]
"updatedAt" => "2024-10-31 13:51:19"
"publicationUrl" => "https://doi.org/10.1016/j.najef.2023.102014"
"publicationInfo" => array:3 [
"pages" => "102014"
"volume" => "69"
"number" => null
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We find that the flow-performance sensitivity (FPS) of mutual funds depends on the composition of their sectoral holdings. We use the Morningstar classification of fund holdings into the following three Super Sectors: Defensive, Sensitive, and Cyclical. On average, the FPS decreases as the fraction of defensive or sensitive stocks increases in the fund’s portfolio. The FPS increases as the fraction of cyclical stocks increases. During high sentiment periods, the sensitivity of new sales as well as redemptions increases, resulting in overall higher FPS for all funds. However, in both the low and the high sentiment periods, the FPS is lower for funds with a higher fraction of defensive or sensitive stocks and higher for funds with a higher fraction of cyclical stocks. Investors with a long investment horizon may wish to avoid mutual funds that invest primarily in cyclical stocks as funds with high FPS tend to have high liquidity costs."
"en" => "We find that the flow-performance sensitivity (FPS) of mutual funds depends on the composition of their sectoral holdings. We use the Morningstar classification of fund holdings into the following three Super Sectors: Defensive, Sensitive, and Cyclical. On average, the FPS decreases as the fraction of defensive or sensitive stocks increases in the fund’s portfolio. The FPS increases as the fraction of cyclical stocks increases. During high sentiment periods, the sensitivity of new sales as well as redemptions increases, resulting in overall higher FPS for all funds. However, in both the low and the high sentiment periods, the FPS is lower for funds with a higher fraction of defensive or sensitive stocks and higher for funds with a higher fraction of cyclical stocks. Investors with a long investment horizon may wish to avoid mutual funds that invest primarily in cyclical stocks as funds with high FPS tend to have high liquidity costs."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-11-21T14:21:49.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 7.1401014
+"parent": null
}
]
"avatar" => "https://faculty.essec.edu/wp-content/uploads/avatars/B00148056.jpg"
"contributionCounts" => 12
"personalLinks" => array:2 [
0 => "<a href="https://orcid.org/0000-0003-4657-3851" target="_blank">ORCID</a>"
1 => "<a href="https://scholar.google.com/citations?hl=fr&user=OWcjUC4AAAAJ" target="_blank">Google scholar</a>"
]
"docTitle" => "Vijay YADAV"
"docSubtitle" => "Associate Professor"
"docDescription" => "Department: Finance<br>Campus de Singapour"
"docType" => "cv"
"docPreview" => "<img src="https://faculty.essec.edu/wp-content/uploads/avatars/B00148056.jpg"><span><span>Vijay YADAV</span><span>B00148056</span></span>"
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]
#_index: "academ_cv"
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}
