Agarwal, Vikas; Ren, Honglin; Shen, Ke; Zhao, Haibei - 2021
Open-end mutual funds can use redemption in kind to satisfy investor redemptions by delivering securities instead of … cash. We find that funds that reserve their rightsto redeem in kind experience less redemption after poor performance …, including the delivery of more illiquid stocks and stocks with greater tax overhang.Funds also suffer less from the adverse …