publication . Article . 2013

Evidence from Business Strategy of Mutual Fund Managers after the Financial Crisis - Panel Smooth Transition Regression Model

Joe-Ming Lee;
Open Access
  • Published: 01 Jan 2013 Journal: Journal of Asian Business Strategy, volume 3, issue 3 March, pages 48-58
Abstract
This study applies by the panel transition regression (PSTR) model to investigate the nonlinear dynamic relationship between equity fund flow and investment volatility in Taiwan. Our empirical results show that the equity fund managers will be different business strategy under the volatility threshold value and the control variables of asset of funds, management fee and Turnover indicator. After the financial crisis, the threshold of volatility will be an important index to different business strategy of equity fund managers. Belong to low-risk equity funds, the equity fund managers tend to attract investors to increase fund performance, efforts to expand the fu...
Subjects
free text keywords: Equity fund, PSTR model, volatility, fund performance
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