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ARTÍCULO
TITULO

Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds

Zia-ur-Rehman Rao    
Muhammad Zubair Tauni    
Ajid ur Rehman    

Resumen

We investigate the relationship of fund flow and fund performance by using the sample of 557 Chinese equity mutual funds for the period of 11 years. We apply fund fixed effect regression model on unbalanced panel data and find that relationship between fund flow and fund performance is positive. Like previous studies, our findings also exhibit the asymmetric flow-performance relationship which implies that investors? response is more sensitive to good past performance as compared to bad past performance. Furthermore, size and age of fund weaken the flow-performance relationship.Keywords: Fund Flow, Mutual funds, China, Flow-Performance RelationshipJEL Classifications: G23, L14

PÁGINAS
pp. 492 - 496
MATERIAS
ECONOMÍA

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