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Cited by 268

The DOI matches its Crossref record; 21 of the 21 references it cites were found in a registry or an index.

Mutual Fund Survivorship

Carhart, Mark M., Carpenter, Jennifer N., Lynch, Anthony W., Musto, David K.·2002·Review of Financial Studies
DOI 10.1093/rfs/15.5.1439
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Abstract

This article provides a comprehensive study of survivorship issues using the mutual fund data of Carhart (1997). We demonstrate theoretically that when survival depends on multiperiod performance, the survivorship bias in average performance typically increases with the sample length. This is empirically relevant because evidence suggests a multiyear survival rule for U.S. mutual funds. In the data we find the annual bias increases from 0.07% for 1-year samples to 1% for samples longer than 15 years. We find that survivor conditioning weakens evidence of performance persistence. Finally, we explain how survivor conditioning affects the relation between performance and fund characteristics.

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Metadata

Authors
Carhart, M. M., Carpenter, J. N., Lynch, A. W., & Musto, D. K.
Venue
Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2002-10
Volume
15
Issue
5
Pages
1439-1463
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/15.5.1439
OpenAlex
W3122221663
Cited by
268
References
21
FWCI
23.50
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Mutual Fund Survivorship. https://app.cochat.ai/papers/10.1093/rfs/15.5.1439
The paper
Carhart, M. M., Carpenter, J. N., Lynch, A. W., & Musto, D. K. (2002). Mutual Fund Survivorship. Review of Financial Studies. https://doi.org/10.1093/rfs/15.5.1439

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.