Relations between mutual fund flows and stock market returns in Korea Parwada, Jerry en_US Oh, Natalie en_US 2021-11-25T12:46:59Z 2021-11-25T12:46:59Z 2007 en_US
dc.description.abstract This paper analyses relations between stock market returns and mutual fund flows in Korea. A positive relationship exists between stock market returns and mutual fund flows, measured as stock purchases and sales and net trading volumes. In aggregate, mutual funds are negative feedback traders. Standard causality tests suggest that it is predominantly returns that drive flows, while stock sales may contain information about returns. After controlling for declining markets, the results suggest Korean equity fund managers tend to increase stock purchases in times of rising market volatility, possibly disregarding fundamental information, and to sell in times of wide dispersion in investor beliefs. en_US
dc.identifier.issn 1873-0612 en_US
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.subject.other stock markets en_US
dc.subject.other mutual funds en_US
dc.subject.other investment flows en_US
dc.title Relations between mutual fund flows and stock market returns in Korea en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.description.notePublic © 2005 Elsevier B.V. All rights reserved. en_US
unsw.identifier.doiPublisher en_US
unsw.relation.faculty Business
unsw.relation.faculty Other UNSW
unsw.relation.ispartofissue 2 en_US
unsw.relation.ispartofjournal Journal of International financial markets institutions and money en_US
unsw.relation.ispartofpagefrompageto 140-151 en_US
unsw.relation.ispartofvolume 17 en_US
unsw.relation.originalPublicationAffiliation Parwada, Jerry, Banking & Finance, Australian School of Business, UNSW en_US
unsw.relation.originalPublicationAffiliation Oh, Natalie, UNSW en_US School of Banking & Finance *
Resource type