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Another Puzzle: The Growth in Activity Managed Mutual Funds

Citations

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Cited by:

  1. Goriaev, Alexei & Nijman, Theo E. & Werker, Bas J.M., 2008. "Performance information dissemination in the mutual fund industry," Journal of Financial Markets, Elsevier, vol. 11(2), pages 144-159, May.
  2. Fabian Irek, & Jan Jaap Hazenberg & Willem van der Scheer & Mariela Stefanova, 2013. "The Lure of the Brand: Evidence from the European Mutual Fund Industry," LSF Research Working Paper Series 13-8, Luxembourg School of Finance, University of Luxembourg.
  3. Artamonov, Nikita & Voronina, Anna & Emelyanov, Nikita & Kurbatskii, Aleksei, 2020. "Estimation of interest rates’ impact on mutual funds’ performance in the USA," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 58, pages 55-75.
  4. Santosh Anagol & Hugh Hoikwang Kim, 2012. "The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market," American Economic Review, American Economic Association, vol. 102(1), pages 576-593, February.
  5. Kaniel, Ron & Parham, Robert, 2017. "WSJ Category Kings – The impact of media attention on consumer and mutual fund investment decisions," Journal of Financial Economics, Elsevier, vol. 123(2), pages 337-356.
  6. Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2015. "Money Doctors," Journal of Finance, American Finance Association, vol. 70(1), pages 91-114, February.
    • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, "undated". "Money Doctors," Working Paper 69721, Harvard University OpenScholar.
    • Gennaioli, Nicola & Shleifer, Andrei & Vishny, Robert W., 2014. "Money Doctors," Scholarly Articles 12965657, Harvard University Department of Economics.
    • Nicola Gennaioli & Andrei Shleifer & Robert W. Vishny, 2012. "Money Doctors," NBER Working Papers 18174, National Bureau of Economic Research, Inc.
    • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2012. "Money Doctors," Working Papers 464, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, "undated". "Money Doctors," Working Paper 228501, Harvard University OpenScholar.
    • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2012. "Money doctors," Economics Working Papers 1355, Department of Economics and Business, Universitat Pompeu Fabra.
  7. Haoyue Zhang & Dayong Lv & Wenfeng Wu, 2022. "Why do bank‐affiliated mutual funds perform better in China?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(5), pages 4755-4782, December.
  8. Lauren Cohen & Andrea Frazzini & Christopher Malloy, 2008. "The Small World of Investing: Board Connections and Mutual Fund Returns," Journal of Political Economy, University of Chicago Press, vol. 116(5), pages 951-979, October.
  9. Parvez Ahmed & Sudhir Nanda, 2005. "Performance of Enhanced Index and Quantitative Equity Funds," The Financial Review, Eastern Finance Association, vol. 40(4), pages 459-479, November.
  10. Feng, Xunan & Johansson, Anders C., 2015. "Can mutual funds pick stocks in China? Evidence from the IPO market," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 170-186.
  11. Shinozawa, Yoshikatsu & Vivian, Andrew, 2015. "Determinants of money flows into investment trusts in Japan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 138-161.
  12. Marco Navone & Giacomo Nocera, 2016. "Unbundling the Expense Ratio: Hidden Distribution Costs in European Mutual Fund Markets," European Financial Management, European Financial Management Association, vol. 22(4), pages 640-666, September.
  13. Bianchi, Daniele & Babiak, Mykola, 2022. "On the performance of cryptocurrency funds," Journal of Banking & Finance, Elsevier, vol. 138(C).
  14. Kooli, Maher & Stetsyuk, Ivan, 2021. "Are hedge fund managers skilled?," Global Finance Journal, Elsevier, vol. 49(C).
  15. Mikhail Simutin, 2014. "Cash Holdings and Mutual Fund Performance," Review of Finance, European Finance Association, vol. 18(4), pages 1425-1464.
  16. Cujean, Julien, 2020. "Idea sharing and the performance of mutual funds," Journal of Financial Economics, Elsevier, vol. 135(1), pages 88-119.
  17. Thomas S. Coe, 2002. "International Portfolio Diversification: A Comparison of ADRs and Closed-End Country Funds," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 1(1), pages 31-46, May.
  18. Barker, Richard & Hendry, John & Roberts, John & Sanderson, Paul, 2012. "Can company-fund manager meetings convey informational benefits? Exploring the rationalisation of equity investment decision making by UK fund managers," Accounting, Organizations and Society, Elsevier, vol. 37(4), pages 207-222.
  19. Chen, Yihao & Miguel, Antonio F. & Liu, Xiayue, 2021. "Does mutual fund family size matter? International evidence," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
  20. David C. Leonard & Terry D. Nixon & David M. Shull, 2005. "Marketing Closed‐End Fund IPOs: An Analysis of the International Stock Funds," The Financial Review, Eastern Finance Association, vol. 40(4), pages 497-518, November.
  21. Chen, Zhenhua & Liu, Zhenya & Teka, Hanen & Zhang, Yifan, 2022. "Smart money in China's A-share market: Evidence from big data," Research in International Business and Finance, Elsevier, vol. 61(C).
  22. Françoise LE QUERE, 2008. "Gestion déléguée des encours par les investisseurs institutionnels : description et évolution des pratiques," LEO Working Papers / DR LEO 682, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
  23. Chen, Huaizhi & Cohen, Lauren & Gurun, Umit & Lou, Dong & Malloy, Christopher, 2020. "IQ from IP: Simplifying search in portfolio choice," Journal of Financial Economics, Elsevier, vol. 138(1), pages 118-137.
  24. Daugaard, Dan, 2024. "The value of a Principles for Responsible Investing designation: A setting for environmental social and governance natural experiments," Working Papers 2024-03, University of Tasmania, Tasmanian School of Business and Economics.
  25. Galagedera, Don U.A. & Watson, John & Premachandra, I.M. & Chen, Yao, 2016. "Modeling leakage in two-stage DEA models: An application to US mutual fund families," Omega, Elsevier, vol. 61(C), pages 62-77.
  26. Dasgupta, Amil & Prat, Andrea & Verardo, Michela, 2010. "The price impact of institutional herding," LSE Research Online Documents on Economics 119088, London School of Economics and Political Science, LSE Library.
  27. Emmanuel Mamatzakis & Mike Tsionas, 2018. "A Bayesian dynamic model to test persistence in funds' performance," Working Paper series 18-23, Rimini Centre for Economic Analysis.
  28. Casavecchia, Lorenzo & Hulley, Hardy, 2018. "Are mutual fund investors paying for noise?," International Review of Financial Analysis, Elsevier, vol. 58(C), pages 8-23.
  29. George Comer & Javier Rodriguez, 2013. "A comparison of corporate versus government bond funds," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(4), pages 495-510, October.
  30. Doron Avramov & Si Cheng & Allaudeen Hameed, 2020. "Mutual Funds and Mispriced Stocks," Management Science, INFORMS, vol. 66(6), pages 2372-2395, June.
  31. Erik Kole & Reza Brink, "undated". "Constructing and Using Double-adjusted Alphas to Analyze Mutual Fund Performance," Tinbergen Institute Discussion Papers 19-029/IV, Tinbergen Institute.
  32. Hodula, Martin & Szabo, Milan & Bajzík, Josef, 2024. "Retail fund flows and performance: Insights from supervisory data," Emerging Markets Review, Elsevier, vol. 59(C).
  33. Ana C. Díaz†Mendoza & Germán López†Espinosa & Miguel A. Martínez, 2014. "The Efficiency of Performance†Based Fee Funds," European Financial Management, European Financial Management Association, vol. 20(4), pages 825-855, September.
  34. Clemens Sialm & Laura T. Starks & Hanjiang Zhang, 2015. "Defined Contribution Pension Plans: Sticky or Discerning Money?," Journal of Finance, American Finance Association, vol. 70(2), pages 805-838, April.
  35. Abramov, Alexander (Абрамов, Александр) & Akshentseva, Ksenia (Акшенцева, Ксения), 2014. "The development of mutual funds in Russia [Развитие Взаимных Фондов В России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 35-53.
  36. Cakici, Nusret & Zaremba, Adam, 2021. "Who should be afraid of infections? Pandemic exposure and the cross-section of stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
  37. Livingston, Miles & Yao, Ping & Zhou, Lei, 2019. "The volatility of mutual fund performance," Journal of Economics and Business, Elsevier, vol. 104(C), pages 1-1.
  38. Martin Rohleder & Dominik Schulte & Marco Wilkens, 2017. "Management of flow risk in mutual funds," Review of Quantitative Finance and Accounting, Springer, vol. 48(1), pages 31-56, January.
  39. Sorhage, Christoph, 2014. "Outsourcing of mutual funds' non-core competencies and the impact on operational outcomes: Evidence from funds' shareholder services," CFR Working Papers 14-04, University of Cologne, Centre for Financial Research (CFR).
  40. Wolfgang Bessler & Thomas Conlon & Diego Víctor de Mingo‐López & Juan Carlos Matallín‐Sáez, 2022. "Mutual fund performance and changes in factor exposure," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(1), pages 17-52, March.
  41. Gerasimos G Rompotis, 2009. "Interfamily competition on index tracking: The case of the vanguard ETFs and index funds," Journal of Asset Management, Palgrave Macmillan, vol. 10(4), pages 263-278, October.
  42. Joëlle Miffre, 2007. "Country-specific ETFs: An efficient approach to global asset allocation," Journal of Asset Management, Palgrave Macmillan, vol. 8(2), pages 112-122, July.
  43. Sharon Garyn-Tal, 2015. "Mutual fund fees and performance: new insights," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(3), pages 454-477, July.
  44. Herrmann, Ulf & Scholz, Hendrik, 2013. "Short-term persistence in hybrid mutual fund performance: The role of style-shifting abilities," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2314-2328.
  45. Rania Makni & Olfa Benouda & Ezzedine Delhoumi, 2016. "International evidence on Islamic equity fund characteristics and performance persistence," Review of Financial Economics, John Wiley & Sons, vol. 31(1), pages 75-82, November.
  46. Cici, Gjergji & Kempf, Alexander & Sorhage, Christoph, 2015. "Do financial advisors provide tangible benefits for investors? Evidence from tax-motivated mutual fund flows," CFR Working Papers 12-09 [rev.5], University of Cologne, Centre for Financial Research (CFR).
  47. Gregor Dorfleitner & Anna Gerl & Johannes Gerer, 2018. "The pricing efficiency of exchange-traded commodities," Review of Managerial Science, Springer, vol. 12(1), pages 255-284, January.
  48. Yang, Tingting & Huang, Xiaoxia, 2022. "Two new mean–variance enhanced index tracking models based on uncertainty theory," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
  49. Yamani, Ehab, 2023. "The informational role of fund flow in the profitable predictability of mutual funds," Finance Research Letters, Elsevier, vol. 51(C).
  50. Matallín-Sáez, Juan Carlos & Soler-Domínguez, Amparo & Tortosa-Ausina, Emili, 2016. "On the robustness of persistence in mutual fund performance," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 192-231.
  51. Klinkowska, Olga & Zhao, Yuan, 2023. "Fund flows and performance: New evidence from retail and institutional SRI mutual funds," International Review of Financial Analysis, Elsevier, vol. 87(C).
  52. Veasna Khim & Hery Razafitombo, 2015. "The Impact of UCITS IV Directive on European Mutual Funds Performance," Post-Print hal-01698550, HAL.
  53. Yogesh Chauhan & Ajay Kumar Mishra & Bhavik Parikh, 2023. "Fund family versus mutual fund performance: evidence from the Indian investors’ perspective," Journal of Asset Management, Palgrave Macmillan, vol. 24(4), pages 268-283, July.
  54. Otero-González, Luis & Leite, Paulo & Durán-Santomil, Pablo & Domingues, Renato, 2022. "Morningstar Star ratings and the performance, risk and flows of European bond mutual funds," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 479-496.
  55. Massa, Massimo & Cheng, Si & Zhang, Hong, 2021. "Tax Evasion and Market Efficiency: Evidence from the FATCA and Offshore Mutual Funds," CEPR Discussion Papers 15747, C.E.P.R. Discussion Papers.
  56. Gil Aharoni & Oded H. Sarig, 2012. "Hot hands and equilibrium," Applied Economics, Taylor & Francis Journals, vol. 44(18), pages 2309-2320, June.
  57. Agnesens, Julius, 2013. "A statistically robust decomposition of mutual fund performance," Journal of Banking & Finance, Elsevier, vol. 37(10), pages 3867-3877.
  58. Vidal, Marta & Vidal-García, Javier & Lean, Hooi Hooi & Uddin, Gazi Salah, 2015. "The relation between fees and return predictability in the mutual fund industry," Economic Modelling, Elsevier, vol. 47(C), pages 260-270.
  59. Roberto Casarin & Andrea Piva & Loriana Pelizzon, 2008. "Italian Equity Funds: Efficiency and Performance Persistence," The IUP Journal of Financial Economics, IUP Publications, vol. 0(1), pages 7-28, March.
  60. James J. Choi & Adriana Z. Robertson, 2020. "What Matters to Individual Investors? Evidence from the Horse's Mouth," Journal of Finance, American Finance Association, vol. 75(4), pages 1965-2020, August.
  61. Parida, Sitikantha, 2024. "The impact of salient fees: Evidence from the mutual fund market," International Review of Financial Analysis, Elsevier, vol. 92(C).
  62. Florian Röder & Andreas Walter, 2019. "What Drives Investment Flows Into Social Trading Portfolios?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 42(2), pages 383-411, July.
  63. David R. Gallagher & Kyle M. Martin, 2005. "Size and investment performance: a research note," Abacus, Accounting Foundation, University of Sydney, vol. 41(1), pages 55-65, February.
  64. Chen, Hsuan-Chi & Lai, Christine W. & Wu, Sheng-Ching, 2016. "Mutual fund selection and performance persistence in 401(k) Plans," The North American Journal of Economics and Finance, Elsevier, vol. 35(C), pages 78-100.
  65. Viet Do & Robert Faff & Paul Lajbcygier & Madhu Veeraraghavan & Mikhail Tupitsyn, 2016. "Factors affecting the birth and fund flows of CTAs," Australian Journal of Management, Australian School of Business, vol. 41(2), pages 324-352, May.
  66. Paulo ALVES, 2015. "The Fees Of Mutual Funds And Real Estate Funds Their Determinants In A Small Market," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 6(1), pages 20-28.
  67. Gupta-Mukherjee, Swasti, 2021. "When is money smart? Mutual fund flows and disposable income," Finance Research Letters, Elsevier, vol. 39(C).
  68. A. Joseph Warburton, 2012. "Competition in Financial Services: Evidence from British Mutual Funds," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 9(4), pages 827-858, December.
  69. Agarwal, Vikas & Green, T. Clifton & Ren, Honglin, 2018. "Alpha or beta in the eye of the beholder: What drives hedge fund flows?," Journal of Financial Economics, Elsevier, vol. 127(3), pages 417-434.
  70. Juan Carlos Matallin-Saez, 2011. "On causality in the size-efficiency relationship: the effect of investor cash flows on the mutual fund industry," Applied Economics, Taylor & Francis Journals, vol. 43(27), pages 4069-4079.
  71. David Goldreich & Hanna Hałaburda, 2013. "When Smaller Menus Are Better: Variability in Menu-Setting Ability," Management Science, INFORMS, vol. 59(11), pages 2518-2535, November.
  72. Abramov, Alexander (Абрамов, Александр) & Akshentseva, Kseniya (Акшенцева, Ксения) & Radygin, Alexander (Радыгин, Александр), 2015. "The effectiveness of mutual funds: theoretical approaches and the experience of Russia [Эффективность Паевых Инвестиционных Фондов: Теоретические Подходы И Опыт России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 60-86.
  73. Shu, Pei-Gi & Yeh, Yin-Hua & Yamada, Takeshi, 2002. "The behavior of Taiwan mutual fund investors--performance and fund flows," Pacific-Basin Finance Journal, Elsevier, vol. 10(5), pages 583-600, November.
  74. Hu, May & Chao, Chi-Chur & Lim, Jin Hao, 2016. "Another explanation of the mutual fund fee puzzle," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 134-152.
  75. Guastaroba, G. & Mansini, R. & Ogryczak, W. & Speranza, M.G., 2016. "Linear programming models based on Omega ratio for the Enhanced Index Tracking Problem," European Journal of Operational Research, Elsevier, vol. 251(3), pages 938-956.
  76. Filippi, C. & Guastaroba, G. & Speranza, M.G., 2016. "A heuristic framework for the bi-objective enhanced index tracking problem," Omega, Elsevier, vol. 65(C), pages 122-137.
  77. Ingo Walter & Elif Sisli, 2007. "The Asset Management Industry in Asia: Dynamics of Growth, Structure, and Performance," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 16(1), pages 1-77, February.
  78. Ayadi, Mohamed A. & Kryzanowski, Lawrence & Mohebshahedin, Mahmood, 2018. "Impact of sponsorship on fixed-income fund performance," The Quarterly Review of Economics and Finance, Elsevier, vol. 67(C), pages 121-137.
  79. Ammann, Manuel & Bauer, Christopher & Fischer, Sebastian & Mueller, Philipp, 2017. "Tha Impact of the Morningstar Sustainability Rating on Mutual Fund Flows," Working Papers on Finance 1718, University of St. Gallen, School of Finance, revised Nov 2017.
  80. Yong Chen & Nan Qin, 2017. "The Behavior of Investor Flows in Corporate Bond Mutual Funds," Management Science, INFORMS, vol. 63(5), pages 1365-1384, May.
  81. Stefan Jonsson, 2009. "Refraining from Imitation: Professional Resistance and Limited Diffusion in a Financial Market," Organization Science, INFORMS, vol. 20(1), pages 172-186, February.
  82. Feldman, David & Saxena, Konark & Xu, Jingrui, 2020. "Is the active fund management industry concentrated enough?," Journal of Financial Economics, Elsevier, vol. 136(1), pages 23-43.
  83. Pedro Luiz Albertin Bono Milan & William Eid Junior, 2015. "Determinants of Portfolio Turnover for Equity Mutual Funds," Brazilian Business Review, Fucape Business School, vol. 12(5), pages 1-15, September.
  84. Javier Vidal-García & Marta Vidal & Sabri Boubaker & Majdi Hassan, 2018. "The efficiency of mutual funds," Annals of Operations Research, Springer, vol. 267(1), pages 555-584, August.
  85. Nisani, Doron & Shelef, Amit & Sonenshine, Ralph & David, Or, 2024. "The mutual funds puzzle and the elusive von Neumann-Morgenstern preference relation," International Review of Financial Analysis, Elsevier, vol. 92(C).
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