Publication:
The information content of Australian fund ratings

dc.contributor.author Faff, Robert en_US
dc.contributor.author Parwada, Jerry en_US
dc.contributor.author Poh, Hun-Lune en_US
dc.date.accessioned 2021-11-25T12:47:00Z
dc.date.available 2021-11-25T12:47:00Z
dc.date.issued 2007 en_US
dc.description.abstract We examine the information content of managed fund ratings for Australian retail investors. Because fund ratings, premised on a quantitative-qualitative model, are highly transitory, we question whether investors formulate their investment decisions with respect to changes in ratings and whether ratings, in turn, react to fund flows. We find that information regarding fund flows can be obtained from ratings, and that rating changes can have farreaching effects. Investors flock to newly upgraded funds while they penalize those that have been downgraded by withdrawing funds. Investors are constantly anticipating ratings revisions, particularly downgrades, and we attribute this phenomenon to the role of qualitative factors in the ratings. en_US
dc.identifier.issn 1468-5957 en_US
dc.identifier.uri http://hdl.handle.net/1959.4/37808
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/3.0/au/ en_US
dc.source Legacy MARC en_US
dc.subject.other investor behaviour en_US
dc.subject.other mutual funds en_US
dc.subject.other fund ratings en_US
dc.title The information content of Australian fund ratings en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.accessRights.uri http://purl.org/coar/access_right/c_14cb
unsw.description.notePublic Copyright 2007 The Authors Journal compilation. Copyright Blackwell Publishing Ltd. 2007 en_US
unsw.identifier.doiPublisher http://dx.doi.org/10.1111/j.1468-5957.2007.02053.x en_US
unsw.relation.faculty Business
unsw.relation.ispartofissue 9-10 en_US
unsw.relation.ispartofjournal Journal of Business Finance and Accounting en_US
unsw.relation.ispartofpagefrompageto 1528-1547 en_US
unsw.relation.ispartofvolume 34 en_US
unsw.relation.originalPublicationAffiliation Faff, Robert en_US
unsw.relation.originalPublicationAffiliation Parwada, Jerry, Banking & Finance, Australian School of Business, UNSW en_US
unsw.relation.originalPublicationAffiliation Poh, Hun-Lune en_US
unsw.relation.school School of Banking & Finance *
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