全球共同基金流量

IF 9.8 1区 经济学 Q1 BUSINESS, FINANCE
Marta Vidal , Javier Vidal-García , Stelios Bekiros , Juan E. Trinidad-Segovia
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引用次数: 0

摘要

在本文中,我们考察了不同变量如何影响全球不同国家共同基金的盈利-流量关系;我们还确定基金投资者在做出投资决策时是否更喜欢某些变量而不是其他变量。在这项工作中,我们比较了不同的绩效指标;我们使用1990年1月至2023年12月的全球股票共同基金数据集来研究资金流与绩效之间的关系。此外,我们评估结果是否因基金的规模及其相对于市场的地位而变化。我们的证据表明,投资者在投资决策时考虑共同基金的业绩。我们还表明,小型共同基金的投资者受到风险调整后的额外收益的影响,而大型共同基金的投资者只考虑基金以前的业绩,尽管两者在市场发展有利时都会吸引资金流入。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Global mutual fund flows
In this paper, we examine how different variables impact the profitability-flows relationship in mutual funds across different countries around the world; we also determine whether fund investors prefer some variables against others when making investment decisions. We compare different performance measures throughout this work; we examine the relationship between flows and performance employing a dataset of global equity mutual funds, from January 1990 to December 2023. Furthermore, we evaluate whether the results vary depending on the size of the fund and its position with respect to the market. Our evidence shows that investors consider mutual fund performance for their investment decisions. We also show that investors of small mutual funds are influenced by the risk-adjusted extra return, while large funds investors only consider the previous performance of the fund, although both attract flows when the market evolves favorably.
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来源期刊
CiteScore
10.30
自引率
9.80%
发文量
366
期刊介绍: The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.
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