EconStor >
Universität zu Köln >
Centre for Financial Research (CFR), Universität Köln >
CFR Working Papers, Centre for Financial Research (CFR), Universität Köln >

Please use this identifier to cite or link to this item:
Title:On the usability of synthetic measures of mutual fund net-flows PDF Logo
Authors:Ber, Silke
Ruenzi, Stefan
Issue Date:2006
Series/Report no.:CFR Working Paper 06-05
Abstract:Due to a lack of data availability, numerous empirical studies on mutual fund flows (e.g. Sirri/Tufano (1998)) analyze synthetically derived flow measures. We show how good these measures can explain actual flows. We compare the measures suggested in the literature with the actual net-flows of all German equity mutual funds. Our results show the appropriateness of the synthetic measures used in previous studies. Inference about the influence of past performance on flows is not biased by using synthetic instead of actual measures of fund flows. Thus, we offer a justification for the use of synthetic measures in performance flow studies.
Subjects:Mutual Funds
Performance Flow Relationship
Synthetic Flow Measures
Document Type:Working Paper
Appears in Collections:CFR Working Papers, Centre for Financial Research (CFR), Universität Köln

Files in This Item:
File Description SizeFormat
700636838.pdf212.18 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.