Flow-Performance Relationship and Tournament Behavior in the Mutual Fund Industry
In this paper, we interpret the flow-performance relationship as an incentive scheme implicitly given to mutual fund managers by mutual fund investors. We show that the flow-performance relationship varies not only with economic activity but also across fund attributes. We provide evidence that the...
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2008
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/etd_coll/18 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1017&context=etd_coll |
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| Institution: | Singapore Management University |
| Language: | English |