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Fund Performance And Fund Flow. Case Of China

Author

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  • ZIA-UR-REHMAN RAO
  • MUHAMMAD ZUBAIR TAUNI

Abstract

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 flowperformance 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.

Suggested Citation

  • Zia-Ur-Rehman Rao & Muhammad Zubair Tauni, 2016. "Fund Performance And Fund Flow. Case Of China," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 8(1 (March)), pages 146-156.
    • Handle: RePEc:shc:jaresh:v:8:y:2016:i:1:p:146-156
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    Cited by:

    1. Dietl, M & Skrok & Benalcazar, P & Gątkowski, M & Rockett, K, 2017. "Pendency and Thickets," Economics Discussion Papers 19979, University of Essex, Department of Economics.
    2. Richard Apau & Peter Moores-Pitt & Paul-Francois Muzindutsi, 2021. "Regime-Switching Determinants of Mutual Fund Performance in South Africa," Economies, MDPI, vol. 9(4), pages 1-20, October.

    More about this item

    Keywords

    Fund Flow; Mutual funds; China; Flow-Performance Relationship.;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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