Do Firm Characteristics Influence Mutual Fund Performance? An Empirical Study for European Mutual Funds
AbstractThis study investigates the influence of fund management firm characteristics on mutual fund performance. Using a sample of European-domiciled open-end equity funds for the period 1998-2008, this study finds that the funds of private companies have performed better than the funds of public companies. The degree of focus, the volume of assets under management, and the number of funds offered by a fund management firm also have a positive impact on fund performance. In addition to these four firm characteristics, we find that non-European and U.K. fund managers had better performing funds.
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Bibliographic InfoArticle provided by EY Global FS Institute in its journal Journal of Financial Perspectives.
Volume (Year): 1 (2013)
Issue (Month): 1 ()
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Fund Management; Mutual Funds; European Mutual Funds; Mutual Fund Performance; Open-End Equity Funds; Private Company Funds; Public Company Funds;
Other versions of this item:
- de Jong, Frank & Wingens, Loes, 2013. "Do firm characteristics influence mutual fund performance? An empirical study for European mutual funds," Journal of Financial Perspectives, EY Global FS Institute, vol. 1(1), pages 159-176.
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
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