Convenience in the mutual fund industry

被引：1
|
作者：
Cashman, George D. [1 ]
机构：
[1] Texas Tech Univ, Rawls Coll Business, Area Finance, Lubbock, TX 79409 USA
来源：
JOURNAL OF CORPORATE FINANCE | 2012年 / 18卷 / 05期
关键词：
Mutual funds; Sub-advising; Performance-flow relation; ADVISORY CONTRACTS; PERFORMANCE; STRATEGIES; MARKETS; FLOWS;
D O I：
10.1016/j.jcorpfin.2012.09.003
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
I examine the role of convenience in the mutual fund industry. I find that investors pay more for relatively convenient funds, and that the flows to convenient funds are less responsive to performance. These findings suggest that investors do not evaluate mutual funds independently, but rather that investors select a primary fund, likely based on beliefs about managerial ability, and then select funds which are relatively convenient to this primary fund. (C) 2012 Elsevier B.V. All rights reserved.
引用
收藏
页码：1326 / 1336
页数：11
相关论文
共 50 条
  • [1] The BRIC mutual fund industry
    Sundaram, Padmini
    [J]. INTERNATIONAL CONFERENCE ON EMERGING ECONOMIES - PROSPECTS AND CHALLENGES (ICEE-2012), 2012, 37 : 324 - 336
  • [2] Tournaments in the UK mutual fund industry
    Jans, Rob
    Otten, Roger
    [J]. MANAGERIAL FINANCE, 2008, 34 (11) : 786 - 798
  • [3] Herding in the German mutual fund industry
    Walter, Andreas
    Weber, Friedrich Moritz
    [J]. EUROPEAN FINANCIAL MANAGEMENT, 2006, 12 (03) : 375 - 406
  • [4] Mutual Fund Industry Selection and Persistence
    Busse, Jeffrey A.
    Tong, Qing
    [J]. REVIEW OF ASSET PRICING STUDIES, 2012, 2 (02): : 245 - 274
  • [5] Price competition in the mutual fund industry
    Panida, Sitikantha
    Tang, Zhenyang
    [J]. ECONOMIC MODELLING, 2018, 70 : 29 - 39
  • [6] MUTUAL FUND INDUSTRY - LEGAL SURVEY
    FARINA, RH
    FREEMAN, JP
    WEBSTER, J
    [J]. NOTRE DAME LAWYER, 1969, 44 (05): : 732 - 983
  • [7] On the failure of mutual fund industry regulation
    Mugerman, Yevgeny
    Hecht, Yoel
    Wiener, Zvi
    [J]. EMERGING MARKETS REVIEW, 2019, 38 : 51 - 72
  • [8] Measuring skill in the mutual fund industry
    Berk, Jonathan B.
    van Binsbergen, Jules H.
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2015, 118 (01) : 1 - 20
  • [9] Managerial Multitasking in the Mutual Fund Industry
    Agarwal, Vikas
    Ma, Linlin
    Mullally, Kevin
    [J]. FINANCIAL ANALYSTS JOURNAL, 2023, 79 (02) : 65 - 75
  • [10] ADVISORY SUCCESSION IN MUTUAL FUND INDUSTRY
    不详
    [J]. NORTHWESTERN UNIVERSITY LAW REVIEW, 1972, 67 (02) : 278 - 302
12345