that investors punish bad performance by selling their shares, but also have a tendency to sell winners. Investors in large … fund families show higher sales and redemption rates. Furthermore, family size also affects the flow-performance … relationship. On the one hand, investors in large families punish bad performance more, on the other, they also tend to sell …

that investors punish bad performance by selling their shares, but also have a tendency to sell winners. Investors in large … fund families show higher sales and redemption rates. Further family size also affects the flow-performance relationship …: Investors in large families punish bad performance more. Last, we find that inner family rankings play an important part for …

obtain strong effects of liquidity on optimal portfolio selection. In particular, portfolio performance, measured by the … for liquidity, the performance of optimal portfolios is relatively more favorable. However, it is also the case that …

Ratios that indicate the statistical significance of a fund's alpha typically appraise its performance. A growing … or trading frequently can significantly enhance performance ratios. This paper derives the performance …-maximizing strategy - a variant of buy-write - and the least upper bound on such performance enhancement, thereby showing that if common …

We present evidence of the impact of buy-side analysts on the behavior and performance of fund managers. Using data … lesser extent. Positive abnormal returns to buy-side analysts' revisions are also reflected in the performance of mutual fund …