Spillover Effects in Mutual Fund Companies
Speaker
Abstract
| Our paper investigates spillover effects across different business segments of publicly traded mutual fund management companies. We find that the prior stock price performance of the management company has a significant impact on the money flows and the management turnover of the affiliated mutual funds. Investment flows into mutual funds increase significantly with the prior performance of the management company even if the company performance does not predict future fund performance. These results indicate that the financial health of a diversified firm has a significant impact on the prospects of the various business segments. |
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| This event is an Erasmus Finance Seminar. The Erasmus Finance Seminar series brings prominent researchers in Finance from all over the world to Rotterdam. |
