| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26576 |
| 来源ID | Working Paper 26576 |
| FinTech Platforms and Mutual Fund Distribution | |
| Claire Yurong Hong; Xiaomeng Lu; Jun Pan | |
| 发表日期 | 2019-12-23 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We document a novel platform effect caused by the emergence of FinTech platforms in financial intermediation. In China, platform distributions of mutual funds emerged in 2012 and grew quickly into a formidable presence. Utilizing the staggered entrance of funds onto platforms, we find a marked increase of performance-chasing, driven by the centralized information flow unique to FinTech platforms. This pattern is further confirmed using proprietary data from a top platform. Examining the platform impact on fund managers, we find that, incentivized by the amplified performance-chasing, fund managers increase risk taking to enhance their probability of getting onto the top ranking. |
| 主题 | Financial Economics ; Financial Markets ; Financial Institutions ; Behavioral Finance |
| URL | https://www.nber.org/papers/w26576 |
| 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/584250 |
| 推荐引用方式 GB/T 7714 | Claire Yurong Hong,Xiaomeng Lu,Jun Pan. FinTech Platforms and Mutual Fund Distribution. 2019. |
| 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 | ||
| w26576.pdf（1511KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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