Results 41 to 50 of about 4,157 (196)
Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns [PDF]
We use mutual fund flows as a measure for individual investor sentiment for different stocks, and find that high sentiment predicts low future returns at long horizons.
Andrea Frazzini, Owen A. Lamont
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Mutual Fund Tax Clienteles [PDF]
Mutual funds are pooled investment vehicles with diverse tax clienteles. Whereas many mutual funds are held primarily by taxable investors, a significant fraction of mutual fund assets are held in tax-qualified retirement accounts. Our paper investigates
Laura Starks, Clemens Sialm
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Fund performance-flow relationship for microfinance mutual funds
Quantitative Finance and EconomicsMutual funds could contribute to sustainable development by investing in microfinance institutions that provide microloans to microfirms with difficulties accessing financial services, such as loans, savings, and insurance from traditional banks. To increase their assets and support microfinance institutions, fund managers need to understand the ...
Martí-Ballester, Carmen-Pilar +1 more
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The Black Box of Mutual Fund Fees [PDF]
This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is explained separately.
Gil Bazo, Javier +1 more
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Costly Search and Mutual Fund Flows
The Journal of Finance, 1998 This paper studies the flows of funds into and out of equity mutual funds. Consumers base their fund purchase decisions on prior performance information, but do so asymmetrically, investing disproportionately more in funds that performed very well the prior period. Search costs seem to be an important determinant of fund flows. High performance appears
Tufano, P, Sirri, E
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How Much Does Size Erode Mutual Fund Performance? A Regression Discontinuity Approach [PDF]
Although mutual funds exhibit little ability to persistently outperform their peers, money flows into funds with the highest past returns. Berk and Green (2004) rationalize these patterns by arguing that more-skilled managers manage more assets but ...
Eric Zitzewitz, Jonathan Reuter
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Star power: the effect of Morningstar ratings on mutual fund flows [PDF]
Morningstar, Inc., has been hailed in both academic and practitioner circles as having the most influential rating system in the mutual fund industry. We investigate Morningstar’s influence by estimating the value of a star in terms of the asset flow it ...
Diane Del Guercio, Paula A. Tkac
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Time-varying incentives in the mutual fund industry [PDF]
In this paper, the authors provide evidence that the convexity of the flow-performance relationship in the mutual fund industry varies with economic activity.
Tay, Anthony, Olivier, Jacque
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How Are Derivatives Used? Evidence from the Mutual Fund Industry [PDF]
Approximately 20 percent of the 675 equity mutual funds analyzed in this paper invest in derivatives. We compare the return distributions of equity mutual funds that invest in derivatives to those that do not.
Jeffrey Pontiff, Jennifer Koski
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Broker Incentives and Mutual Fund Market Segmentation [PDF]
We study the impact of investor heterogeneity on mutual fund market segmentation. To motivate our empirical analysis, we make two assumptions. First, some investors inherently value broker services.
Diane Del Guercio +2 more
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