Open AccessA Review of Main Strands on the Flow-Performance Relationship of Mutual Funds
Author(s) -
Dariusz Filip
Publication year - 2021
Publication title -
athens journal of business and economics
Language(s) - English
Resource type - Journals
ISSN - 2241-794X
DOI - 10.30958/ajbe.7-3-2
Subject(s) - flow of funds , mutual fund , empirical research , subject matter , economics , business , financial economics , positive economics , actuarial science , econometrics , finance , mathematics , statistics , economic growth , curriculum
This paper is a review of literature for findings on the flow–performance relationship of mutual funds. It is noted that the discussed issue has been examined virtually exclusively in developed countries. There are no or only fragmentary findings of this kind in developing economies. Based on a survey of empirical findings, it is possible to outline the main directions of research within the strands examined by contemporary researchers and explain the basic assumptions when formulating hypotheses. Moreover, the evaluation of the existing literature lets to offer several propositions for future research. It is a preliminary paper that systematises the analysed subject matter and an introduction to an empirical study dedicated to small European mutual fund markets. Keywords: mutual funds, performance, net flows, individual investors, behavioral finance