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Mutual Fund Size, Fund Family Size and Mutual Fund Performance: The Role of Regulatory Changes
16 references·8 citing·21 second hop
Mutual Fund Size, Fund Family Size and Mutual Fund Performance: The Role of Regulatory Changes (2012)Mutual Fund Size, Fund Family Size and Mu…The Small World of Investing: Board Connections and Mutual Fund Returns (2008)The Small World of Investing:…Mutual Fund Flows and Performance in Rational Markets (2004)Mutual Fund Flows and Perform…Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization (2004)Does Fund Size Erode Mutual F…Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses (2000)Mutual Fund Performance: An E…Costly Search and Mutual Fund Flows (1998)Costly Search and Mutual Fund…Risk Taking by Mutual Funds as a Response to Incentives (1997)Risk Taking by Mutual Funds a…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Another Puzzle: The Growth in Actively Managed Mutual Funds (1996)Another Puzzle: The Growth in…Risk Taking by Mutual Funds as a Response to Incentives (1995)Risk Taking by Mutual Funds a…Returns from Investing in Equity Mutual Funds 1971 to 1991 (1995)Returns from Investing in Equ…Momentum Investment Strategies, Portfolio Performance, and Herding: A Study of Mutual Fund Behavior (1995)Momentum Investment Strategie…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)EFFICIENT CAPITAL MARKETS: A …Efficient Capital Markets: A Review of Theory and Empirical Work (1970)Efficient Capital Markets: A …THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)THE PERFORMANCE OF MUTUAL FUN…Copycat Skills and Disclosure Costs: Evidence from Peer Companies’ Digital Footprints (2021)Copycat Skills and Disclosure…Carbon-intensive industries in Socially Responsible mutual funds' portfolios (2021)Carbon-intensive industries i…Trading Prior to the Disclosure of Material Information: Evidence from Regulation Fair Disclosure Form 8‐Ks * (2020)Trading Prior to the Disclosu…Do disclosures of selective access improve market information acquisition fairness? Evidence from company visits in China (2020)Do disclosures of selective a…The devil in the style: Mutual fund style drift, performance and common risk factors (2019)The devil in the style: Mutua…Did the Siebel Systems Case Limit the SEC's Ability to Enforce Regulation Fair Disclosure? (2019)Did the Siebel Systems Case L…Size does not matter: Diseconomies of scale in the mutual fund industry revisited (2018)Size does not matter: Disecon…On the failure of mutual fund industry regulation (2018)On the failure of mutual fund…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)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)The effect of bonus schemes on accounting decisions (1985)Aggregation and Linearity in the Provision of Intertemporal Incentives (1987)Managerial Incentive Problems: A Dynamic Perspective (1999)The Geography of Investment: Informed Trading and Asset Prices (2001)Asset Fire Sales (and Purchases) in Equity Markets (2005)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)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Users of the world, unite! The challenges and opportunities of Social Media (2009)Luck versus Skill in the Cross‐Section of Mutual Fund Returns (2010)Multifactor Explanations of Asset Pricing Anomalies (1996)Herding and Feedback Trading by Institutional and Individual Investors (1999)How Active Is Your Fund Manager? A New Measure That Predicts Performance (2009)Noise Trader Risk in Financial Markets (1990)Efficient Capital Markets: II (1991)
this work references cited by second hop

References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*15,723 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1970Efficient Capital Markets: A Review of Theory and Empirical Work13,616 cited
  • 1968THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–19644,330 cited
  • 1998Costly Search and Mutual Fund Flows3,217 cited
  • 1997Risk Taking by Mutual Funds as a Response to Incentives2,295 cited
  • 1996Another Puzzle: The Growth in Actively Managed Mutual Funds2,093 cited
  • 2004Mutual Fund Flows and Performance in Rational Markets2,082 cited
  • 2000Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses1,854 cited
  • 1995Returns from Investing in Equity Mutual Funds 1971 to 19911,745 cited
  • 1995Risk Taking by Mutual Funds as a Response to Incentives1,582 cited
  • 2004Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization1,429 cited
  • 2008The Small World of Investing: Board Connections and Mutual Fund Returns

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1,297 cited
  • 1995Momentum Investment Strategies, Portfolio Performance, and Herding: A Study of Mutual Fund Behavior1,177 cited
  • Cited by

    • 2020Do disclosures of selective access improve market information acquisition fairness? Evidence from company visits in China59 cited
    • 2018Size does not matter: Diseconomies of scale in the mutual fund industry revisited50 cited
    • 2021Copycat Skills and Disclosure Costs: Evidence from Peer Companies’ Digital Footprints48 cited
    • 2019The devil in the style: Mutual fund style drift, performance and common risk factors47 cited
    • 2018On the failure of mutual fund industry regulation36 cited
    • 2020Trading Prior to the Disclosure of Material Information: Evidence from Regulation Fair Disclosure Form 8‐Ks *34 cited
    • 2021Carbon-intensive industries in Socially Responsible mutual funds' portfolios32 cited
    • 2019Did the Siebel Systems Case Limit the SEC's Ability to Enforce Regulation Fair Disclosure?24 cited