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Analysis of the survival capacity of mutual funds: a systematic review of the literature

Author

Listed:
  • Laura Fabregat-Aibar
  • Antonio Terceño
  • M. Glòria Barberà-Mariné

Abstract

Purpose - The purpose of this paper is to carry out a literature review to determine which variables have the greatest impact on the survival capacity of mutual funds, and if these variables also have an influence on the various ways in which mutual funds disappear. Design/methodology/approach - The authors carry out a systematic review of the literature on mutual funds and identify the main features that affect their capacity for survival. Findings - The results show that most of the articles are based on data from the US market and that the two most studied variables are the return and the size of the fund. Furthermore, the relationship between the behaviour of variables and the disappearance of funds has mainly been analysed by comparing surviving and non-surviving funds, but without specifying the way in which they disappeared. Finally, the results show that there is no single methodology for examining the survival of funds. Originality/value - In the financial literature, no previous literature review has focused on the factors that influence the survival capacity of mutual funds. The authors consider that this review will provide a broader and more realistic vision of the level of academic interest in this field and identify any gaps that exist in the literature available.

Suggested Citation

  • Laura Fabregat-Aibar & Antonio Terceño & M. Glòria Barberà-Mariné, 2017. "Analysis of the survival capacity of mutual funds: a systematic review of the literature," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 13(4), pages 440-474, August.
    • Handle: RePEc:eme:ijmfpp:ijmf-10-2016-0185
    DOI: 10.1108/IJMF-10-2016-0185
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    Citations

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    Cited by:

    1. Laura Fabregat-Aibar & Maria-Teresa Sorrosal-Forradellas & Glòria Barberà-Mariné & Antonio Terceño, 2021. "Can Artificial Neural Networks Predict the Survival Capacity of Mutual Funds? Evidence from Spain," Mathematics, MDPI, vol. 9(6), pages 1-10, March.

    More about this item

    Keywords

    Systematic review; Mutual funds; Non-surviving funds; Survival capacity; Surviving funds; G20; G23;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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