Are mutual fund investors in jail?
Are mutual fund investors in jail?
复制标题
共同基金投资者是否入狱？
DOI：
10.1080/09603100600970073
复制
发表时间：
2007
期刊：
影响因子：
--
通讯作者：
V. Mendes
中科院分区：
文献类型：
--
作者：
Carlos F. Alves;V. Mendes
投资者对共同基金的糟糕表现缺乏反应是一个被广泛报道的现象。本文研究了负载成本的作用，作为对这一现象的解释，并得出结论，后端负载费用是反应的障碍。我们发现的证据与这一假设相一致，即中长期投资者不会因业绩不佳而做出反应，因为他们被后端手续费“囚禁”。
The absence of investor reaction to the poor performance of mutual funds is a widely reported phenomenon. This article 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.