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.
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 (December 2014), 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.
