Purpose – The purpose of this study is to examine the market-timing ability of mutual fund flows and how fund investors conduct asset allocation in response to market volatility. Design/methodology/approach – The paper compares the abnormal returns of net inflow funds with those of net...

A systems approach is applied to UK personal sector holdings of unit trusts, UK company securities, public-sector long-term debt and overseas securities. In the long run, asset holdings are determined primarily by hedging considerations but in the short run there is evidence of speculative...

Purpose – The purpose of this paper is twofold in examining the international transmission of REIT returns volatility. The first purpose is to add to the literature on whether the real estate securities market and the broader equity market are integrated. The second objective of the study is...