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https://hdl.handle.net/10419/41376
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Jank, Stephan | en |
dc.contributor.author | Wedow, Michael | en |
dc.date.accessioned | 2010-10-19 | - |
dc.date.accessioned | 2010-10-28T14:42:46Z | - |
dc.date.available | 2010-10-28T14:42:46Z | - |
dc.date.issued | 2010 | - |
dc.identifier.uri | http://hdl.handle.net/10419/41376 | - |
dc.description.abstract | This 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.iso | eng | en |
dc.publisher | |aUniversity of Cologne, Centre for Financial Research (CFR) |cCologne | en |
dc.relation.ispartofseries | |aCFR working paper |x10-13 | en |
dc.subject.jel | G20 | en |
dc.subject.jel | G23 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Mutual Funds | en |
dc.subject.keyword | Fund Family | en |
dc.subject.keyword | Flow-Performance Relationship | en |
dc.subject.stw | Investmentfonds | en |
dc.subject.stw | Institutioneller Anleger | en |
dc.subject.stw | Anlageverhalten | en |
dc.subject.stw | Portfolio-Management | en |
dc.subject.stw | Aktienfonds | en |
dc.subject.stw | Wertpapieranalyse | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Deutschland | en |
dc.title | Purchase and redemption decisions of mutual fund investors and the role of fund families | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 637049357 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:cfrwps:1013 | en |
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