| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14583 |
| 来源ID | Working Paper 14583 |
| Individual Investor Mutual-Fund Flows | |
| Zoran Ivkovich; Scott Weisbenner | |
| 发表日期 | 2008-12-18 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper studies the relation between individuals' mutual fund flows and fund characteristics, establishing three key results. First, consistent with tax motivations, individual investors are reluctant to sell mutual funds that have appreciated in value and are willing to sell losing funds. Second, individuals pay attention to investment costs as redemption decisions are sensitive to both expense ratios and loads. Third, individuals' fund-level inflows and outflows are sensitive to performance, but in different ways. Inflows are related only to "relative" performance, suggesting that new money chases the best performers in an objective. Outflows are related only to "absolute" fund performance, the relevant benchmark for taxes. |
| 主题 | Econometrics ; Estimation Methods ; Microeconomics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w14583 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572256 |
| 推荐引用方式 GB/T 7714 | Zoran Ivkovich,Scott Weisbenner. Individual Investor Mutual-Fund Flows. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14583.pdf（174KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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