Mutual Fund Flows and Performance in Rational Markets
Top Cited Papers
- 1 December 2004
- journal article
- research article
- Published by University of Chicago Press in Journal of Political Economy
- Vol. 112 (6) , 1269-1295
- https://doi.org/10.1086/424739
Abstract
We derive a parsimonious rational model of active portfolio management that reproduces many regularities widely regarded as anomalous. Fund flows rationally respond to past performance in the model...Keywords
All Related Versions
This publication has 15 references indexed in Scilit:
- How Investors Interpret Past Fund ReturnsThe Journal of Finance, 2003
- Mutual Fund SurvivorshipThe Review of Financial Studies, 2002
- Why Do Money Fund Managers Voluntarily Waive Their Fees?The Journal of Finance, 2001
- Liquidity, investment ability, and mutual fund structureJournal of Financial Economics, 2000
- Is Money Smart? A Study of Mutual Fund Investors' Fund Selection AbilityThe Journal of Finance, 1999
- Costly Search and Mutual Fund FlowsThe Journal of Finance, 1998
- Risk Taking by Mutual Funds as a Response to IncentivesJournal of Political Economy, 1997
- Another Puzzle: The Growth in Actively Managed Mutual FundsThe Journal of Finance, 1996
- Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund IndustryThe Journal of Law and Economics, 1992
- THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964The Journal of Finance, 1968