Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression

Nan Yu Wang; Sen Sung Chen; Chih Jen Huang; Cheng Hsin Yen

Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression

Year 2014, Volume: 4 Issue: 4, 714 - 725, 01.12.2014

Nan Yu Wang Sen Sung Chen Chih Jen Huang Cheng Hsin Yen

Abstract

We identified the relationship between purchase and redemption behavior of flow-return and flow-fund characteristics within different group investors by using Quantile regression, we found that insured investors have reflect better performance than non-insured investor in our study. However, there is no significant difference between non-insured investor’ purchase behavior and performance. In addition, regarding fund characteristics, the relationship between insured investors and fund expense ratios was stronger than it was among the noninsured investors. Low expense ratios attract new investors because of improvements in performance, which indirectly enhances the sensitivity of the relationship between fund flows and performance when performance is strong.

Keywords

Variable Policies , Mutual Funds , Fund Performance , Investment Behavior , Quantile Regression

Year 2014, Volume: 4 Issue: 4, 714 - 725, 01.12.2014

Nan Yu Wang Sen Sung Chen Chih Jen Huang Cheng Hsin Yen

Abstract

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Details

Other ID	JA56CE57BJ
Authors	Nan Yu Wang This is me Sen Sung Chen This is me Chih Jen Huang This is me Cheng Hsin Yen This is me
Publication Date	December 1, 2014
Published in Issue	Year 2014 Volume: 4 Issue: 4

Cite

APA	Wang, N. Y., Chen, S. S., Huang, C. J., Yen, C. H. (2014). Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression. International Journal of Economics and Financial Issues, 4(4), 714-725.
AMA	Wang NY, Chen SS, Huang CJ, Yen CH. Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression. IJEFI. December 2014;4(4):714-725.
Chicago	Wang, Nan Yu, Sen Sung Chen, Chih Jen Huang, and Cheng Hsin Yen. “Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression”. International Journal of Economics and Financial Issues 4, no. 4 (December 2014): 714-25.
EndNote	Wang NY, Chen SS, Huang CJ, Yen CH (December 1, 2014) Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression. International Journal of Economics and Financial Issues 4 4 714–725.
IEEE	N. Y. Wang, S. S. Chen, C. J. Huang, and C. H. Yen, “Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression”, IJEFI, vol. 4, no. 4, pp. 714–725, 2014.
ISNAD	Wang, Nan Yu et al. “Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression”. International Journal of Economics and Financial Issues 4/4 (December2014), 714-725.
JAMA	Wang NY, Chen SS, Huang CJ, Yen CH. Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression. IJEFI. 2014;4:714–725.
MLA	Wang, Nan Yu et al. “Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression”. International Journal of Economics and Financial Issues, vol. 4, no. 4, 2014, pp. 714-25.
Vancouver	Wang NY, Chen SS, Huang CJ, Yen CH. Purchase and Redemption Decisions of Mutual Fund Investors of Variable Life Insurance-Using Quantile Regression. IJEFI. 2014;4(4):714-25.