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Individual investor mutual fund flows☆ [PDF]
Journal of Financial Economics, 2009 Abstract This paper studies the relation between individuals’ mutual fund flows and fund characteristics, establishing three key results. First, consistent with tax motivations, individual investors are reluctant to sell mutual funds that have appreciated in value and are willing to sell losing funds.
Zoran Ivkovich, Scott Weisbenner
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The paradox of closing mutual funds to new investors. [PDF]
PLoS ONE, 2023 I provide an explanation for the well-established paradox that mutual funds that close to new investors fail to maintain their pre-closure positive abnormal performance after closing. Using a large sample of active US equity mutual funds, I find that the
Svetoslav Covachev
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The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds versus Pension Funds [PDF]
SSRN Electronic Journal, 1999 Due to differences in financial sophistication and agency relationships, we posit that investors use different criteria to select portfolio managers in the retail mutual fund and fiduciary pension fund industry segments. We provide evidence on investors' manager selection criteria by estimating the relation between manager asset flow and performance ...
Diane Del Guercio, Paula A. Tkac
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Mutual fund net flows in China: A co-holding network perspective
Frontiers in Physics, 2023 As the largest part of the mutual fund, open-end funds play a critical role in the Chinese mutual fund market. In this work, we construct an undirected weighted fund network of Chinese open-end funds based on the asset co-holding and explore whether ...
Yue Ma, Jichang Zhao, Shan Lu
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Investor Attrition and Fund Flows in Mutual Funds [PDF]
Journal of Financial and Quantitative Analysis, 2017 We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance.
Christoffersen, Susan E. K., Xu, Haoyu
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Prospect Theory and Mutual Fund Flows
Economics Letters, 2021 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Ariel Gu, Hong Il Yoo
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The effect of Mutual Fund Performance on Dynamics of Earnings Management in IPOs [PDF]
مجله توسعه و سرمایه, 2021 Objective: Earnings management can be motivated by capital market, political, contractual, tax, agency. In the capital market incentives that are considered in this study, in the IPOs, because the possibility of access to information for investors is ...
Nahid Najafi rad +2 more
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Dynamic Relations between Aggregate Mutual Fund Flows and Tehran Stock Exchange’s Index:A Hidden Co-integration Approach [PDF]
تحقیقات مالی, 2017 With regard to the prominent role of mutual funds in financial markets, this study aims to examine the relationship between the mutual fund flows and the index of Tehran Stock Exchange (TEDPIX). For this purpose, the researchers used the daily data of 90
Mohammad Rostami, Fatemeh Tajeddin
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Journal of Accounting and Finance in Emerging Economies, 2022 Purpose: This paper aims to study the potential sources of convexity in the flow-performance relationship curve in the Asian region. Design/Methodology/Approach: The sample for this study includes 75 mutual funds from three broader investment ...
Saleh Nawaz Khan +3 more
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The Effect of Fundamental Variables of Mutual Funds on the Ability of the Manager to Select the Appropriate Stock and Accurate Market Timing [PDF]
مجله توسعه و سرمایه, 2021 Objective: The structure of mutual funds and, of course, other reasons cause the management of these funds to trade based on evaluation criteria. Unexpected cash flows allow managers to constantly maintain the balance of their portfolios to control ...
Mohsen Hassani, Ali Lal bar
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