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http://hdl.handle.net/10419/41376
  

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dc.contributor.authorJank, Stephanen_US
dc.contributor.authorWedow, Michaelen_US
dc.date.accessioned2010-10-19en_US
dc.date.accessioned2010-10-28T14:42:46Z-
dc.date.available2010-10-28T14:42:46Z-
dc.date.issued2010en_US
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_US
dc.language.isoengen_US
dc.publisherCentre for Financial Research Cologneen_US
dc.relation.ispartofseriesCFR working paper 10-13en_US
dc.subject.jelG20en_US
dc.subject.jelG23en_US
dc.subject.ddc330en_US
dc.subject.keywordMutual Fundsen_US
dc.subject.keywordFund Familyen_US
dc.subject.keywordFlow-Performance Relationshipen_US
dc.subject.stwInvestmentfondsen_US
dc.subject.stwInstitutioneller Anlegeren_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwPortfolio-Managementen_US
dc.subject.stwAktienfondsen_US
dc.subject.stwWertpapieranalyseen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titlePurchase and redemption decisions of mutual fund investors and the role of fund familiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn637049357en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfrwps:1013-
Appears in Collections:CFR Working Papers, Centre for Financial Research (CFR), Universität Köln

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