Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds
We investigate the relationship of fund flow and fund performance by using the sample of 557 Chinese equity mutual funds for the period of 11 years. We apply fund fixed effect regression model on unbalanced panel data and find that relationship between fund flow and fund performance is positive. Lik...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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EconJournals
2016-04-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/31978/352468?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1797910771565330432 |
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| author | Zia-ur-Rehman Rao Muhammad Zubair Tauni Ajid ur Rehman |
| author_facet | Zia-ur-Rehman Rao Muhammad Zubair Tauni Ajid ur Rehman |
| author_sort | Zia-ur-Rehman Rao |
| collection | DOAJ |
| description | We investigate the relationship of fund flow and fund performance by using the sample of 557 Chinese equity mutual funds for the period of 11 years. We apply fund fixed effect regression model on unbalanced panel data and find that relationship between fund flow and fund performance is positive. Like previous studies, our findings also exhibit the asymmetric flow-performance relationship which implies that investors’ response is more sensitive to good past performance as compared to bad past performance. Furthermore, size and age of fund weaken the flow-performance relationship. |
| first_indexed | 2024-04-10T11:29:43Z |
| format | Article |
| id | doaj.art-40f6691b4f354048a60e0991c8222acc |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T11:29:43Z |
| publishDate | 2016-04-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-40f6691b4f354048a60e0991c8222acc2023-02-15T16:18:10ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382016-04-01624924961032Asymmetric Flow-Performance Relationship: Case of Chinese Equity FundsZia-ur-Rehman RaoMuhammad Zubair TauniAjid ur RehmanWe investigate the relationship of fund flow and fund performance by using the sample of 557 Chinese equity mutual funds for the period of 11 years. We apply fund fixed effect regression model on unbalanced panel data and find that relationship between fund flow and fund performance is positive. Like previous studies, our findings also exhibit the asymmetric flow-performance relationship which implies that investors’ response is more sensitive to good past performance as compared to bad past performance. Furthermore, size and age of fund weaken the flow-performance relationship.https://dergipark.org.tr/tr/pub/ijefi/issue/31978/352468?publisher=http-www-cag-edu-tr-ilhan-ozturkfund flow mutual funds china flow-performance relationship |
| spellingShingle | Zia-ur-Rehman Rao Muhammad Zubair Tauni Ajid ur Rehman Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds International Journal of Economics and Financial Issues fund flow mutual funds china flow-performance relationship |
| title | Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds |
| title_full | Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds |
| title_fullStr | Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds |
| title_full_unstemmed | Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds |
| title_short | Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds |
| title_sort | asymmetric flow performance relationship case of chinese equity funds |
| topic | fund flow mutual funds china flow-performance relationship |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/31978/352468?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT ziaurrehmanrao asymmetricflowperformancerelationshipcaseofchineseequityfunds AT muhammadzubairtauni asymmetricflowperformancerelationshipcaseofchineseequityfunds AT ajidurrehman asymmetricflowperformancerelationshipcaseofchineseequityfunds |