Are Mutual Fund Investors in Jail?

• Tipo: Artigo em Revista Científica Internacional
• Data: 2007

Autores

Carlos Alves (Autor) FEP; Victor Mendes (Autor) Outra

Revista

Título: Applied Financial Economics

Vol. 17

Páginas: 1301-1312

ISSN: 0960-3107

Editora: Chapman & Hall

Indexação

Scopus - 6 Citações

Econlit

Outras Informações

ID Authenticus: P-007-JR9

Resumo (PT): The absence of investor reaction to the poor performance of mutual funds is a widely reported phenomenon. This paper investigates the role of load costs as an explanation for the phenomenon and concludes that back-end load fees are an obstacle to reaction. We found evidence consistent with the hypothesis that medium and long term investors do not react to poor performances due to the fact that they are “imprisoned” by back-end load fees.

Abstract (EN): The absence of investor reaction to the poor performance of mutual funds is a widely reported phenomenon. This paper investigates the role of load costs as an explanation for the phenomenon and concludes that back-end load fees are an obstacle to reaction. We found evidence consistent with the hypothesis that medium and long term investors do not react to poor performances due to the fact that they are “imprisoned” by back-end load fees.

Idioma: Português

Tipo (Avaliação Docente): Científica