Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight
碩士 === 國立中山大學 === 企業管理學系研究所 === 91 === ABSTRACT All the current moving in the financial market would be affected by the business cycle and the price the asset, Do all the investor realize the knowledge of the financial asset, and allocate their asset rationally or emotionally, even take the adv...
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ndltd-TW-091NSYS51211242016-06-22T04:20:45Z http://ndltd.ncl.edu.tw/handle/69338337284364906492 Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight 新資金流入股票型基金產業的決定因素 Chiang-Chuang Sun 孫仲江 碩士 國立中山大學 企業管理學系研究所 91 ABSTRACT All the current moving in the financial market would be affected by the business cycle and the price the asset, Do all the investor realize the knowledge of the financial asset, and allocate their asset rationally or emotionally, even take the advice of the sales representative? After reading studies of mutual fund, For the purpose of realize the determinants of money flow, we combine the experience and econometrics and the opinion of market participants to undertake this study. In this study, we investigate the determinants of mutual fund flows from aggregate viewpoint. The empirical results are as follows: 1.The initial public offering of new fund have positive influence on the aggregate flow, no evidence that aggregate mutual fund flows have been affected by the stock return. 2.The stock returns with 1 month lag show no evidence to influence the flows, 3.Long-term real interest have obviously negative influence on the aggregate mutual fund and while short-tern interest does not. 4.Personal income positively related to aggregate mutual fund flows but not obvious for 1-month lagged income. Feng-Yu Ni 倪豐裕 2003 學位論文 ; thesis 91 zh-TW |
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碩士 === 國立中山大學 === 企業管理學系研究所 === 91 === ABSTRACT
All the current moving in the financial market would be affected by the business cycle and the price the asset, Do all the investor realize the knowledge of the financial asset, and allocate their asset rationally or emotionally, even take the advice of the sales representative? After reading studies of mutual fund, For the purpose of realize the determinants of money flow, we combine the experience and econometrics and the opinion of market participants to undertake this study.
In this study, we investigate the determinants of mutual fund flows from aggregate viewpoint. The empirical results are as follows:
1.The initial public offering of new fund have positive influence on the aggregate flow, no evidence that aggregate mutual fund flows have been affected by the stock return.
2.The stock returns with 1 month lag show no evidence to influence the flows,
3.Long-term real interest have obviously negative influence on the aggregate mutual fund and while short-tern interest does not.
4.Personal income positively related to aggregate mutual fund flows but not obvious for 1-month lagged income.
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author2 |
Feng-Yu Ni |
author_facet |
Feng-Yu Ni Chiang-Chuang Sun 孫仲江 |
author |
Chiang-Chuang Sun 孫仲江 |
spellingShingle |
Chiang-Chuang Sun 孫仲江 Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
author_sort |
Chiang-Chuang Sun |
title |
Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
title_short |
Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
title_full |
Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
title_fullStr |
Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
title_full_unstemmed |
Determinants of Net New Money Flows to the Equity Mutual Fund Industry In the Marketing Sight |
title_sort |
determinants of net new money flows to the equity mutual fund industry in the marketing sight |
publishDate |
2003 |
url |
http://ndltd.ncl.edu.tw/handle/69338337284364906492 |
work_keys_str_mv |
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