Using Stepwise Reality Check to Analyze Open-end Fund Investors' Herding Redemption in Taiwan

This study aims to examine whether funds with illiquid assets exhibit stronger sensitivity of redemption outflows to bad past performance than funds with liquid assets. An important aspect of our study is whether large outflows should damage future fund performance in illiquid funds more than in li...

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Bibliographic Details
Main Authors: Nan Yu Wang, Chih-Jen Huang, Ying-Lin Hsu, Shian-Chang Huang
Format: Article
Language:English
Published: EconJournals 2015-01-01
Series:International Journal of Economics and Financial Issues
Online Access:http://mail.econjournals.com/index.php/ijefi/article/view/1040