The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Costly Search and Mutual Fund Flows
Abstract
This paper studies the flows of funds into and out of equity mutual funds. Consumers base their fund purchase decisions on prior performance information, but do so asymmetrically, investing disproportionately more in funds that performed very well the prior period. Search costs seem to be an important determinant of fund flows. High performance appears to be most salient for funds that exert higher marketing effort, as measured by higher fees. Flows are directly related to the size of the fund's complex as well as the current media attention received by the fund, which lower consumers' search costs.
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Citations
Cites
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
Survivorship Bias in Performance Studies
Brown, S. J., Goetzmann, W., Ibbotson, R. G., & Ross, S. A. (1992) · Review of Financial Studies · doi:10.1093/rfs/5.4.553 · Cited by 1,121
Cited by
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
Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization
Chen, J., Hong, H., Huang, M., & Kubik, J. D. (2004) · American Economic Review · doi:10.1257/0002828043052277 · Cited by 1,430
Dumb money: Mutual fund flows and the cross-section of stock returns
Frazzini, A., & Lamont, O. A. (2008) · Journal of Financial Economics · doi:10.1016/j.jfineco.2007.07.001 · Cited by 882
The price of ethics and stakeholder governance: The performance of socially responsible mutual funds
Renneboog, L., Ter Horst, J., & Zhang, C. (2008) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2008.03.009 · Cited by 835
False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas
BARRAS, L., SCAILLET, O., & WERMERS, R. (2010) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01527.x · Cited by 825
Metadata
- Authors
- Sirri, E. R., & Tufano, P.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1998-10
- Volume
- 53
- Issue
- 5
- Pages
- 1589-1622
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2165723500
- Cited by
- 3,200
- References
- 2
- FWCI
- 65.77
- Type
- journal article
- Language
- en
- Open access
- closed
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- Sirri, E. R., & Tufano, P. (1998). Costly Search and Mutual Fund Flows. The Journal of Finance. https://doi.org/10.1111/0022-1082.00066
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.
