The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.
Mutual Fund Attributes and Investor Behavior
Open accessAbstract
I study the dynamics of investor cash flows in socially responsible mutual funds. Consistent with anecdotal evidence of loyalty, the monthly volatility of investor cash flows is lower in socially responsible funds than in conventional funds. I find strong evidence that cash flows into socially responsible funds are more sensitive to lagged positive returns than cash flows into conventional funds, and weaker evidence that cash outflows from socially responsible funds are less sensitive to lagged negative returns. These results indicate that investors derive utility from the socially responsible attribute, especially when returns are positive.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Common risk factors in the returns on stocks and bonds
Fama, E. F., & French, K. R. (1993) · Journal of Financial Economics · doi:10.1016/0304-405x(93)90023-5 · Cited by 25,754
CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*
Sharpe, W. F. (1964) · The Journal of Finance · doi:10.1111/j.1540-6261.1964.tb02865.x · Cited by 19,441
On Persistence in Mutual Fund Performance
Carhart, M. M. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03808.x · Cited by 17,283
Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency
JEGADEESH, N., & TITMAN, S. (1993) · The Journal of Finance · doi:10.1111/j.1540-6261.1993.tb04702.x · Cited by 11,584
Judgment under Uncertainty: Heuristics and Biases
(1982) · doi:10.1017/cbo9780511809477 · Cited by 8,240
Mutual Fund Flows and Performance in Rational Markets
Berk, J. B., & Green, R. C. (2004) · Journal of Political Economy · doi:10.1086/424739 · Cited by 2,083 · cited 3×
“…that some fund managers may be able to exploit on a consistent basis to generate superior returns.1 Ippolito (1992), Lynch and Musto (2003), and Berk and Green (2004), among others, interpret the flow-performance relation as a reflection of investors 1For examples of stock market anomalies,…”
BackgroundInfluentialThe Eco-Efficiency Premium Puzzle
Derwall, J., Guenster, N., Bauer, R., & Koedijk, K. (2005) · Financial Analysts Journal · doi:10.2469/faj.v61.n2.2716 · Cited by 965
Cited by
Sustainable investing in equilibrium
Pástor, Ľ., Stambaugh, R. F., & Taylor, L. A. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.12.011 · Cited by 2,226
Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows
HARTZMARK, S. M., & SUSSMAN, A. B. (2019) · The Journal of Finance · doi:10.1111/jofi.12841 · Cited by 1,711
Why Do Investors Hold Socially Responsible Mutual Funds?
RIEDL, A., & SMEETS, P. (2017) · The Journal of Finance · doi:10.1111/jofi.12547 · Cited by 1,378
Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash
Albuquerque, R., Koskinen, Y., Yang, S., & Zhang, C. (2020) · The Review of Corporate Finance Studies · doi:10.1093/rcfs/cfaa011 · Cited by 1,234
Institutional shareholders and corporate social responsibility
Chen, T., Dong, H., & Lin, C. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.06.007 · Cited by 975
Metadata
- Authors
- Bollen, N. P. B.
- Venue
- Journal of Financial and Quantitative Analysis
- Publisher
- Cambridge University Press (CUP)
- Published
- 2007-09
- Volume
- 42
- Issue
- 3
- Pages
- 683-708
- ISSN
- 0022-1090 (ISSN-L)
- 1756-6916
- OpenAlex
- W1975401618
- Cited by
- 755
- References
- 8
- FWCI
- 27.16
- Type
- journal article
- Language
- en
- Open access
- green
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Mutual Fund Attributes and Investor Behavior. https://app.cochat.ai/papers/10.1017/s0022109000004142
- The paper
- Bollen, N. P. B. (2007). Mutual Fund Attributes and Investor Behavior. Journal of Financial and Quantitative Analysis. https://doi.org/10.1017/s0022109000004142
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.