Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/41376 
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dc.contributor.authorJank, Stephanen
dc.contributor.authorWedow, Michaelen
dc.date.accessioned2010-10-19-
dc.date.accessioned2010-10-28T14:42:46Z-
dc.date.available2010-10-28T14:42:46Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/41376-
dc.description.abstractThis paper investigates the purchases and redemptions of a large cross-sectional sample of German equity funds. We find that investors punish bad performance by selling their shares, but also have a tendency to sell winners. Investors in large fund families show higher sales and redemption rates. Further family size also affects the flow-performance relationship: Investors in large families punish bad performance more. Last, we find that inner family rankings play an important part for redemptions, with investors strongly redeeming their shares from intra-family losers.en
dc.language.isoengen
dc.publisher|aUniversity of Cologne, Centre for Financial Research (CFR) |cCologneen
dc.relation.ispartofseries|aCFR working paper |x10-13en
dc.subject.jelG20en
dc.subject.jelG23en
dc.subject.ddc330en
dc.subject.keywordMutual Fundsen
dc.subject.keywordFund Familyen
dc.subject.keywordFlow-Performance Relationshipen
dc.subject.stwInvestmentfondsen
dc.subject.stwInstitutioneller Anlegeren
dc.subject.stwAnlageverhaltenen
dc.subject.stwPortfolio-Managementen
dc.subject.stwAktienfondsen
dc.subject.stwWertpapieranalyseen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titlePurchase and redemption decisions of mutual fund investors and the role of fund families-
dc.type|aWorking Paperen
dc.identifier.ppn637049357en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfrwps:1013en

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