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Time distance and mutual fund holding horizon: Evidence from a quasi‐natural experiment setting of high‐speed railway opening

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  • Xuanyi Chen
  • Qiliang Liu
  • Li Tian
  • Junbo Wang
  • Jian Xie

Abstract

Using a quasi‐natural experiment, we investigate whether the opening of high‐speed railways affects mutual fund holdings. Applying the difference‐in‐difference method, we find that mutual fund holdings in remote listed companies increase after the introduction of high‐speed railways in their cities. This effect is primarily observed within the optimal interval of the railway. Opening high‐speed railways also facilitates mutual fund visits to remote listed companies, resulting in increased holdings.

Suggested Citation

  • Xuanyi Chen & Qiliang Liu & Li Tian & Junbo Wang & Jian Xie, 2024. "Time distance and mutual fund holding horizon: Evidence from a quasi‐natural experiment setting of high‐speed railway opening," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 4277-4312, December.
    • Handle: RePEc:bla:acctfi:v:64:y:2024:i:4:p:4277-4312
    DOI: 10.1111/acfi.13305
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