| 000 | 02313cam a22003617 4500 | ||
|---|---|---|---|
| 001 | w14583 | ||
| 003 | NBER | ||
| 005 | 20211020111619.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2008 mau fo 000 0 eng d | ||
| 100 | 1 |
_aIvkovich, Zoran. _929225 |
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| 245 | 1 | 0 |
_aIndividual Investor Mutual-Fund Flows / _cZoran Ivkovich, Scott Weisbenner. |
| 260 |
_aCambridge, Mass. _bNational Bureau of Economic Research _c2008. |
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| 300 |
_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w14583 |
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| 500 | _aDecember 2008. | ||
| 520 | 3 | _aThis paper studies the relation between individuals' mutual fund flows and fund characteristics, establishing three key results. First, consistent with tax motivations, individual investors are reluctant to sell mutual funds that have appreciated in value and are willing to sell losing funds. Second, individuals pay attention to investment costs as redemption decisions are sensitive to both expense ratios and loads. Third, individuals' fund-level inflows and outflows are sensitive to performance, but in different ways. Inflows are related only to "relative" performance, suggesting that new money chases the best performers in an objective. Outflows are related only to "absolute" fund performance, the relevant benchmark for taxes. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aC41 - Duration Analysis • Optimal Timing Strategies _2Journal of Economic Literature class. |
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| 690 | 7 |
_aD14 - Household Saving • Personal Finance _2Journal of Economic Literature class. |
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| 690 | 7 |
_aG11 - Portfolio Choice • Investment Decisions _2Journal of Economic Literature class. |
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| 690 | 7 |
_aH20 - General _2Journal of Economic Literature class. |
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| 700 | 1 | _aWeisbenner, Scott. | |
| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w14583. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w14583 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w14583 |
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_2ddc _cW-PAPER |
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_c333541 _d292103 |
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