An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies
Fang, Jieyan
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dissertationjieyanfang.pdf
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URL:
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https://ub-madoc.bib.uni-mannheim.de/32157
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URN:
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urn:nbn:de:bsz:180-madoc-321579
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Document Type:
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Doctoral dissertation
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Year of publication:
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2012
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Place of publication:
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Mannheim
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Publishing house:
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Universität Mannheim
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University:
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Universität Mannheim
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Evaluator:
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Ruenzi, Stefan
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Date of oral examination:
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30 May 2012
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Publication language:
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English
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Institution:
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Business School > Internat. Finanzierung (Ruenzi 2009-)
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Subject:
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330 Economics
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Classification:
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JEL:
G11 , G14 , G19 , G29 , L26,
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Subject headings (SWD):
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Investmentfonds , Fondsmanager , Investmentgesellschaft , Entrepreneurship , Portfoliomanagement , Privater Anleger
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Keywords (English):
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Rapid Trading , Mutual Fund , Fund Manager Allocation , Asset Allocation Ability , Entrepreneurship
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Abstract:
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In this dissertation I investigate the mutual fund industry, especially the three most important participants within this industry: mutual fund investors, mutual fund companies and mutual fund managers.
The main research questions of this dissertation are:
1. Does rapid trading exist among German equity mutual fund investors? What are the determinants of rapid trading? Does rapid trading have a negative impact on mutual fund performance?
2. Do mutual fund investors, as a whole, have asset allocation abilities regarding their mutual fund investments? Are there differences in asset allocation ability among different mutual fund sales channels, especially between investors buying funds via non-proprietary and proprietary brokers?
3. Do fund companies allocate their fund managers to market segments in an efficient way, i.e. such that fund managers work in market segments in which their skills are rewarded best?
4. What are the characteristics and behavior of would-be entrepreneurs in the mutual fund industry? Do entrepreneurial fund managers change their behavior after they start their own firm?
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