scholarly journals Relationship Between Fund Attributes and Timing Abilities: Empirical Evidence from Mutual Funds Industry of Pakistan

2020 ◽  
Vol 16 ◽  
Author(s):  
Lubna Maroof ◽  
◽  
Shahab Aziz ◽  
Asma Basit
Keyword(s):  
Empirical Evidence ◽  
Mutual Funds

Shariah monitoring, agency cost and fund performance in Malaysian mutual funds

2020 ◽  
Vol 11 (5) ◽  
pp. 945-972
Author(s):  
Mohd Fikri Sofi ◽  
M.H. Yahya
Keyword(s):  
Corporate Governance ◽  
Empirical Evidence ◽  
Mutual Funds ◽  
Agency Costs ◽  
Fund Performance ◽  
Agency Cost ◽  
Advisory Panel ◽  
Data Set ◽  
Content Type ◽  
Shariah Governance

Purpose This paper aims to examine the effect of Shariah Advisory Panel (SAP) on both the level of agency cost and fund performance against conventional corporate governance, within corporate and Shariah governance settings, between Shariah and conventional mutual fund (CMF), in an emerging economy of Malaysia during the period 2008-2015. Design/methodology/approach Panel data regression is appropriately used within corporate governance research because of empirical issues of unobserved heterogeneity effects to avoid spurious evidence. The secondary data of 172 CMFs and 80 Shariah mutual funds are gathered hand-collected from annual reports and master prospectuses for the purpose of analysis between the period 2008 and 2015, generating 2,016 fund-year observations. Findings SAP is found to have a positive effect on agency costs. Consequently, it leads to empirical evidence that substantiates a negative and marginally significant association with fund performance when designated by accounting measure. Thus, the Shariah monitoring proxy is not a good mechanism for controlling agency costs inconsistent with performance maximizing (agency cost minimizing) outcomes. Research limitations/implications The unique data set of mutual funds used in this research may restrict the generalization of the findings unless mentioned and explained specifically the data characteristics. The single proxy for Shariah monitoring could be better off by having a list of different measures. Practical implications The paper highlights and suggests a consistent improvement in regulation that could be performed by policymakers pertaining to the non-trivial additional cost of implying Shariah governance. Originality/value This paper provides empirical evidence of the SAP effects from the view of a more complex monitoring structure in consequence of having an additional layer of governance, devoting on the trade-off between benefit and cost to shareholders.

scholarly journals Determinants of Investment Behavior in Mutual Funds: Evidence From Pakistan

2021 ◽  
Vol 12 ◽  
Author(s):  
Sharaz Saleem ◽  
Faiq Mahmood ◽  
Muhammad Usman ◽  
Mohsin Bashir ◽  
Rizwan Shabbir
Keyword(s):  
Risk Perception ◽  
Empirical Evidence ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Investment Behavior ◽  
Snowball Sampling ◽  
Insignificant Effect ◽  
Snowball Sampling Technique

This paper aimed to provide empirical evidence on the behavior of the investor toward mutual funds by considering its relationship with risk perception (RP), return perception (Return P), investment criteria (IC), mutual fund awareness (MFA), and financial literacy (FL). Data were collected using a questionnaire from 500 mutual fund investors, from which 460 questionnaires were used for the analysis. In addition, the snowball sampling technique was used to collect data from different cities in Pakistan. The result showed that RP, Return P, and MFA are insignificant and negatively affect the behavior of mutual fund investors. Investment criteria have a negative and significant effect on the behavior of mutual fund investors. Financial literacy has a positive and insignificant effect on the behavior of mutual fund investors. The results provide better information and guidance to investors and policymakers on the factors that affect the behavior of mutual fund investors.

scholarly journals ANALISIS VOLATILITAS IMBAL HASIL REKSADANA SAHAM (STUDI KASUS PADA REKSADANA SCHRODER DANA PRESTASI PLUS)

2020 ◽  
Vol 8 (2) ◽  
pp. 76-90
Author(s):  
Ari Yulianto ◽  
Heri Ispriyahadi
Keyword(s):  
Empirical Evidence ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Analytical Methods ◽  
Time Varying ◽  
Yield Data ◽  
Asymmetric Behavior ◽  
Auto Regression

This research aims to analyze the empirical evidence of the volatility of stock mutual fund returns. The data used is the daily yield data of Schroder Dana Prestasi Plus mutual funds. The analytical methods used in this study are GARCH (Generalized Auto Regression Heteroscedasticity) and EGARCH (Exponential Generalized Auto Regitional Heteroscedasticity). The results showed that the yield of Schroder Dana Prestasi Plus stock mutual funds proved significantly that there was a time varying volatility phenomenon. Then the volatility in the yield of Schroder Dana Prestasi Plus stock mutual funds was proven to be significantly unaffected by the asymmetric behavior therein. And the level of persistence in the volatility is quite low.

scholarly journals Answering Savings Puzzle About Small Saving Schemes and Mutual Funds: Evidence from Tripura

Metamorphosis ◽  
2019 ◽  
Vol 18 (1) ◽  
pp. 7-19
Author(s):  
Rajat Deb ◽  
Prasenjit Deb ◽  
Sujit Majumder ◽  
Sourav Chakraborty ◽  
Kiran Sankar Chakraborty
Keyword(s):  
Empirical Evidence ◽  
Mutual Funds ◽  
Random Sampling ◽  
Sampling Technique ◽  
Policy Implications ◽  
Stratified Random Sampling ◽  
Related Literature ◽  
Tax Benefits ◽  
Survey Strategy ◽  
Gathering Data

The study has motivated to assay the comparatively better saving tool—small saving schemes or mutual funds—based on empirical evidence. The related literature has been extensively reviewed to frame a conceptual model and has adopted survey strategy with stratified random sampling technique for gathering data from 150 respondents. Inferential statistics have supported to reject the null hypotheses and has concluded that selective demographics, risk, returns, tax benefits, inflation beating capability, and liquidity significantly influence in savings. The national saving certificate and fixed deposits have been identified as most preferred saving instruments while mutual funds have also been gaining popularity. Policy implications have been derived from the study.

scholarly journals Ambiguity Aversion and Mutual Funds: Evidence from China

2021 ◽  
Vol 16 (12) ◽  
pp. 111
Author(s):  
Yuxiang Bian
Keyword(s):  
Empirical Evidence ◽  
Mutual Funds ◽  
Empirical Research ◽  
Ambiguity Aversion ◽  
Theoretical Research ◽  
Fund Flows ◽  
Minimum Performance ◽  
Substantial Uncertainty

I provide empirical evidence of ambiguity averse investors’ behaviour in Chinas mutual funds market. My analysis is motivated by the substantial uncertainty in China’s mutual funds market, and theoretical research of decision indicates that investors would be more ambiguity averse when face higher uncertainty. The most substantial implication of the empirical research is that investors tend to place more weight on the worst signal. Across multiple horizons, fund flows will also display more sensitivity to the worst performance. I also conduct robustness test about the different rank funds by Morningstar rating and compare the positive and negative performance during the minimum performance period.

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