Spillover effects in mutual fund companies
Our paper investigates spillover effects across different business segments of publicly traded financial conglomerates. We find that the investment decisions of mutual fund shareholders do not depend only on the prior performance of the mutual funds; they also depend on the prior performance of the...
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2016
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sg-smu-ink.lkcsb_research-69792019-05-23T07:11:30Z Spillover effects in mutual fund companies SIALM, Clemens THAM, T. Mandy Our paper investigates spillover effects across different business segments of publicly traded financial conglomerates. We find that the investment decisions of mutual fund shareholders do not depend only on the prior performance of the mutual funds; they also depend on the prior performance of the funds’ management companies. Flows into equity and bond mutual funds increase with the prior stock price performance of the funds’ management companies after controlling for fund performance and other fund characteristics. The sensitivity of flows to the management company’s performance is not justified by the subsequent performance of the affiliated funds. The results indicate that the reputation of a company’s brand has a significant impact on the behavior of its customers. 2016-05-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/5980 info:doi/10.1287/mnsc.2015.2200 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6979/viewcontent/Spillover_Effects_in_Mutual_Fund_Companies.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Mutual fund flows financial conglomerates umbrella branding performance predictability Corporate Finance Finance and Financial Management |
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Mutual fund flows financial conglomerates umbrella branding performance predictability Corporate Finance Finance and Financial Management SIALM, Clemens THAM, T. Mandy Spillover effects in mutual fund companies |
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Our paper investigates spillover effects across different business segments of publicly traded financial conglomerates. We find that the investment decisions of mutual fund shareholders do not depend only on the prior performance of the mutual funds; they also depend on the prior performance of the funds’ management companies. Flows into equity and bond mutual funds increase with the prior stock price performance of the funds’ management companies after controlling for fund performance and other fund characteristics. The sensitivity of flows to the management company’s performance is not justified by the subsequent performance of the affiliated funds. The results indicate that the reputation of a company’s brand has a significant impact on the behavior of its customers. |
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SIALM, Clemens THAM, T. Mandy |
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SIALM, Clemens THAM, T. Mandy |
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SIALM, Clemens |
title |
Spillover effects in mutual fund companies |
title_short |
Spillover effects in mutual fund companies |
title_full |
Spillover effects in mutual fund companies |
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Spillover effects in mutual fund companies |
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Spillover effects in mutual fund companies |
title_sort |
spillover effects in mutual fund companies |
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Institutional Knowledge at Singapore Management University |
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2016 |
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https://ink.library.smu.edu.sg/lkcsb_research/5980 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6979/viewcontent/Spillover_Effects_in_Mutual_Fund_Companies.pdf |
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