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Determinants of money flows into investment trusts in Japan

Yoshikatsu Shinozawa and Andrew Vivian

Journal of International Financial Markets, Institutions and Money, 2015, vol. 37, issue C, 138-161

Abstract: This study investigates determinants of net money (fund) flows of Japanese investment trusts. This paper employs a pooled regression technique that can distinguish between the impact on fund flow of raw performance and market-adjusted performance. This paper also investigates the impact of fund affiliation with large financial groups on the flow-performance sensitivity as the Japanese fund industry is often portrayed as being “fee-hungry” where large groups play an influential role.

Keywords: Fund flow; Mutual fund; Investors’ behaviour; Japanese investment trusts (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:eee:intfin:v:37:y:2015:i:c:p:138-161