Mutual Fund Flows and Performance in Rational Markets

Article, Preprint OPEN
Jonathan B. Berk; Richard C. Green;
(2002)
  • Journal: Journal of Political Economy,volume 112,issue 6 December,pages1,269-1,295
  • Related identifiers: doi: 10.1086/424739

We develop a simple rational model of active portfolio management that provides a natural benchmark against which to evaluate observed relationship between returns and fund flows. Many effects widely regarded as anomalous are consistent with this simple explanation. In ... View more
  • References (15)
    15 references, page 1 of 2

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