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Family Matters: The Performance-Flow Relationship in the Mutual Fund Industry
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Family Matters: The Performance-Flow Relationship in the Mutual Fund Industry (2008)Family Matters: The Performance-Flow Rela…Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry (2009)Assessing the Costs and Benef…Favoritism in Mutual Fund Families? Evidence on Strategic Cross‐Fund Subsidization (2006)Favoritism in Mutual Fund Fam…Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows* (2005)Out of Sight, Out of Mind: Th…How Investors Interpret Past Fund Returns (2003)How Investors Interpret Past …The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds (2002)The Determinants of the Flow …Truth in Mutual Fund Advertising: Evidence on Future Performance and Fund Flows (2000)Truth in Mutual Fund Advertis…Costly Search and Mutual Fund Flows (1998)Costly Search and Mutual Fund…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…COGNITIVE DISSONANCE AND MUTUAL FUND INVESTORS (1997)COGNITIVE DISSONANCE AND MUTU…Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry (1996)Of Tournaments and Temptation…Another Puzzle: The Growth in Actively Managed Mutual Funds (1996)Another Puzzle: The Growth in…What To Do (and Not to Do) with Time-Series Cross-Section Data (1995)What To Do (and Not to Do) wi…Risk Taking by Mutual Funds as a Response to Incentives (1995)Risk Taking by Mutual Funds a…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry (1992)Consumer Reaction to Measures…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Determinants of equity pension plan flows (2014)Determinants of equity pensio…Purchase and redemption decisions of mutual fund investors and the role of fund families (2012)Purchase and redemption decis…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The arbitrage theory of capital asset pricing (1976)The Performance of Hedge Funds: Risk, Return, and Incentives (1999)Mutual Fund Flows and Performance in Rational Markets (2002)On the Industry Concentration of Actively Managed Equity Mutual Funds (2005)The Cross-Section of Expected Stock Returns (1992)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Statistical Inference in Dynamic Economic Models (1950)Analysis of Panel Data (2003)Veto Players. How Political Institutions Work (2003)Modernization, cultural change, and democracy the human development sequence (2005)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Rank-Order Tournaments as Optimum Labor Contracts (1979)Rank-Order Tournaments as Optimum Labor Contracts (1981)Prizes and Incentives in Elimination Tournaments (1985)Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization (2004)THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)Herding and Feedback Trading by Institutional and Individual Investors (1999)Asset Fire Sales (and Purchases) in Equity Markets (2005)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)Mutual Fund Attributes and Investor Behavior (2007)Participation Costs and the Sensitivity of Fund Flows to Past Performance (2007)The real effects of mandated information on social responsibility in financial reports: Evidence from mine-safety records (2017)Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses (2000)Mutual Fund Flows and Performance in Rational Markets (2004)Luck versus Skill in the Cross‐Section of Mutual Fund Returns (2010)Multifactor Explanations of Asset Pricing Anomalies (1996)Has Financial Development Made the World Riskier? (2005)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1995What To Do (and Not to Do) with Time-Series Cross-Section Data6,833 cited
  • 1998Costly Search and Mutual Fund Flows3,217 cited
  • 1996Another Puzzle: The Growth in Actively Managed Mutual Funds2,093 cited
  • 1995Risk Taking by Mutual Funds as a Response to Incentives1,582 cited
  • 1996Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry1,491 cited
  • 1992Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry1,065 cited
  • 2005Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows*800 cited
  • 2002The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds795 cited
  • 2009Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry604 cited
  • 2006Favoritism in Mutual Fund Families? Evidence on Strategic Cross‐Fund Subsidization576 cited
  • 2000Truth in Mutual Fund Advertising: Evidence on Future Performance and Fund Flows540 cited
  • 1997COGNITIVE DISSONANCE AND MUTUAL FUND INVESTORS

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524 cited
  • 2003How Investors Interpret Past Fund Returns449 cited
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    • 2012Purchase and redemption decisions of mutual fund investors and the role of fund families25 cited
    • 2014Determinants of equity pension plan flows18 cited