EN
Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds
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 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
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
April 1, 2016
Submission Date
April 1, 2016
Acceptance Date
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Published in Issue
Year 2016 Volume: 6 Number: 2
APA
Rao, Z.- ur-R., Tauni, M. Z., & Rehman, A. U. (2016). Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds. International Journal of Economics and Financial Issues, 6(2), 492-496. https://izlik.org/JA94NZ38HJ
AMA
1.Rao Z ur R, Tauni MZ, Rehman AU. Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds. IJEFI. 2016;6(2):492-496. https://izlik.org/JA94NZ38HJ
Chicago
Rao, Zia-ur-Rehman, Muhammad Zubair Tauni, and Ajid Ur Rehman. 2016. “Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds”. International Journal of Economics and Financial Issues 6 (2): 492-96. https://izlik.org/JA94NZ38HJ.
EndNote
Rao Z- ur-R, Tauni MZ, Rehman AU (April 1, 2016) Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds. International Journal of Economics and Financial Issues 6 2 492–496.
IEEE
[1]Z.- ur-R. Rao, M. Z. Tauni, and A. U. Rehman, “Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds”, IJEFI, vol. 6, no. 2, pp. 492–496, Apr. 2016, [Online]. Available: https://izlik.org/JA94NZ38HJ
ISNAD
Rao, Zia-ur-Rehman - Tauni, Muhammad Zubair - Rehman, Ajid Ur. “Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds”. International Journal of Economics and Financial Issues 6/2 (April 1, 2016): 492-496. https://izlik.org/JA94NZ38HJ.
JAMA
1.Rao Z- ur-R, Tauni MZ, Rehman AU. Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds. IJEFI. 2016;6:492–496.
MLA
Rao, Zia-ur-Rehman, et al. “Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds”. International Journal of Economics and Financial Issues, vol. 6, no. 2, Apr. 2016, pp. 492-6, https://izlik.org/JA94NZ38HJ.
Vancouver
1.Zia-ur-Rehman Rao, Muhammad Zubair Tauni, Ajid Ur Rehman. Asymmetric Flow-Performance Relationship: Case of Chinese Equity Funds. IJEFI [Internet]. 2016 Apr. 1;6(2):492-6. Available from: https://izlik.org/JA94NZ38HJ