Do Funds Make More When They Trade More

No abstract is available for this paper.

• Publication year

  2016

• Venue

  Journal of Finance

• Publication date

  2016-10-09

• Fields of study

  Business, Economics

• Identifiers
  DOI 10.2139/SSRN.2524397
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

• Patient Capital Outperformance: The Investment Skill of High Active Share Managers Who Trade Infrequently

  2016cited by this paper
• Commonality in Liquidity: A Demand-Side Explanation

  2016cited by this paper
• Indexing and Active Fund Management: International Evidence

  2016cited by this paper
• Market Microstructure Invariance: Empirical Hypotheses

  2016cited by this paper
• Does fund size erode mutual fund performance

  2016cited by this paper
• A Rational Theory of Mutual Funds' Attention Allocation

  2016cited by this paper
• Measuring skill in the mutual fund industry

  2015cited by this paper
• How Much Does Size Erode Mutual Fund Performance? A Regression Discontinuity Approach

  2015cited by this paper
• Mutual fund investment horizon and performance

  2015cited by this paper
• Common Errors: How to (and Not to) Control for Unobserved Heterogeneity

  2014cited by this paper
• The Effect of Index Fund Competition on Money Management Fees

  2014cited by this paper
• Presidential Address: Investment Noise and Trends

  2014cited by this paper
• Scale and Skill in Active Management

  2014cited by this paper
• Investment Noise and Trends

  2014cited by this paper
• Mutual Fund’s R2 as Predictor of Performance

  2013cited by this paper
• Shedding Light on "Invisible" Costs: Trading Costs and Mutual Fund Performance

  2013cited by this paper
• Time-Varying Fund Manager Skill

  2013cited by this paper
• A five-factor asset pricing model

  2013cited by this paper
• Shedding Light on “Invisible” Costs: Trading Costs and Mutual Fund Performance

  2013cited by this paper
• The short of it

  2012cited by this paper
• Measuring Managerial Skill in the Mutual Fund Industry

  2012cited by this paper
• Mutual Fund Performance and the Incentive to Generate Alpha

  2012cited by this paper
• Time-Varying Predictability in Mutual Fund Returns

  2012cited by this paper
• Time-Varying Fund Manager Skill: Time-Varying Fund Manager Skill

  2012cited by this paper
• Rational Attention Allocation Over the Business Cycle

  2012cited by this paper
• On the Size of the Active Management Industry

  2012cited by this paper
• Why mutual funds ‘ ‘ underperform ’ ’ $

  2011cited by this paper
• Understanding Commonality in Liquidity Around the World

  2011cited by this paper
• Do Mutual Funds Perform When it Matters Most to Investors? US Mutual Fund Performance and Risk in Recessions and Expansions

  2011cited by this paper
• Recent trends in trading activity and market quality

  2011cited by this paper
• Luck versus Skill in the Cross-Section of Mutual Fund Returns

  2011cited by this paper
• Purchasing IPOs with Commissions

  2011cited by this paper
• Mutual Fund Performance and the Incentive to Generate Alpha: Mutual Fund Performance and the Incentive to Generate Alpha

  2011cited by this paper
• The Short of It : Investor Sentiment and Anomalies by *

  2011cited by this paper
• Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements

  2010cited by this paper
• Should Benchmark Indices Have Alpha? Revisiting Performance

  2010cited by this paper
• Risk Shifting and Mutual Fund Performance

  2010cited by this paper
• Institutional versus Individual Investment in IPOs: The Importance of Firm Fundamentals

  2009cited by this paper
• Performance Evaluation and Self-Designated Benchmark Indexes in the Mutual Fund Industry

  2009cited by this paper
• Institutional Investors and Equity Returns: Are Short-Term Institutions Better Informed?

  2009cited by this paper
• How Active is Your Fund Manager? A New Measure That Predicts Performance

  2009cited by this paper
• The Demographics of Fund Turnover

  2009cited by this paper
• Liquidity, Investment Style, and the Relation between Fund Size and Fund Performance

  2008cited by this paper
• Liquidity and Market Efficiency

  2008cited by this paper
• Presidential Address: The Cost of Active Investing

  2008cited by this paper
• The Small World of Investing: Board Connections and Mutual Fund Returns

  2007cited by this paper
• Affiliated Mutual Funds and the Allocation of Initial Public Offerings

  2007cited by this paper
• Do Today's Trades Affect Tomorrow's IPO Allocations?

  2007cited by this paper
• Does motivation matter when assessing trade performance? An analysis of mutual funds

  2007cited by this paper
• Scale effects in mutual fund performance : The role of trading costs 1

  2007cited by this paper
• Are IPO Allocations for Sale? Evidence from Mutual Funds

  2006cited by this paper
• Favoritism in Mutual Fund Families? Evidence on Strategic Cross-Fund Subsidization

  2006cited by this paper
• Investor Sentiment and the Cross-Section of Stock Returns

  2006cited by this paper
• Investing in mutual funds when returns are predictable

  2006cited by this paper
• On the Industry Concentration of Actively Managed Equity Mutual Funds

  2005cited by this paper
• Can mutual fund managers pick stocks ? Evidence from their trades prior to earnings announcements

  2005cited by this paper
• Judging Fund Managers by the Company They Keep

  2005cited by this paper
• Mutual Fund Flows and Performance in Rational Markets

  2004cited by this paper
• Turning Over Turnover

  2003cited by this paper
• Mutual Fund Performance and Seemingly Unrelated Assets

  2002cited by this paper
• Mutual Fund Performance: An Empirical Decomposition into Stock-Picking Talent, Style, Transactions Costs, and Expenses

  2000cited by this paper
• Performance and Characteristics of Swedish Mutual Funds

  2000cited by this paper
• Trading Volume: Definitions, Data Analysis, and Implications of Portfolio Theory

  2000cited by this paper
• The Value of Active Mutual Fund Management: An Examination of the Stockholdings and Trades of Fund Managers

  2000cited by this paper
• Trading Is Hazardous to Your Wealth : The Common Stock Investment Performance of Individual Investors

  2000cited by this paper
• Mutual Fund Herding and the Impact on Stock Prices

  1999cited by this paper
• Herding and Feedback Trading by Institutional and Individual Investors

  1999cited by this paper
• Measuring Fund Strategy and Performance in Changing Economic Conditions

  1996cited by this paper
• Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry

  1996cited by this paper
• Returns from Investing in Equity Mutual Funds 1971 to 1991

  1995cited by this paper
• Efficiency with Costly Information: A Reinterpretation of Evidence from Managed Portfolios

  1993cited by this paper
• The Persistence of Mutual Fund Performance

  1992cited by this paper
• The Right Amount of Assets Under Management

  1991cited by this paper
• Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings

  1989cited by this paper
• Risk, Return, and Equilibrium: Empirical Tests

  1973cited by this paper
• The Performance of Mutual Funds in the Period 1945-1964

  1968cited by this paper
• Discussion *

  1963cited by this paper
• Journal of Economic Perspectives—Volume 21, Number 2—Spring 2007—Pages 129–151 Investor Sentiment in the Stock Market

  year unknowncited by this paper

• Mutual Fund Performance: A Review of the Literature

  2026cites this paper
• Prospect theory in the field: Revealed preferences from mutual fund flows

  2026cites this paper
• Can network centrality explain mutual fund alpha: Evidence from China

  2026cites this paper
• Short‐term institutional trading and return predictability in high‐accrual stocks

  2026cites this paper
• Forecasting Stock Return: The role of Idiosyncratic Asymmetry Risk

  2025cites this paper
• Rational bubble-riding: mutual funds and salience in stock markets

  2025cites this paper
• Are Subjective Expectations Formed as in Rational Expectations Models of Active Management?

  2025cites this paper
• Skilled active liquidity management: Evidence from shocks to fund flows

  2025cites this paper
• Do fees matter? Investor’s sensitivity to active management fees

  2025cites this paper
• Trading activity and fund performance evidence from corporate bond mutual funds

  2025cites this paper
• Decoding mutual fund performance: current pathways and new avenues

  2025cites this paper
• Exposure to Left‐Tail Risk, Risk Appetite, and Mutual Fund Flows

  2025cites this paper
• Predicting Commodity Returns: Time Series vs. Cross Sectional Prediction Models

  2025cites this paper
• Tournament effects in equity mutual funds: Impact of economic conditions and investment styles

  2025cites this paper
• Excess Return Profiles for Stocks Purchased by Active Equity Managers

  2025cites this paper
• The impact of ESG rating divergence on stock price delays: evidence from China

  2025cites this paper
• Can machines learn Chinese mutual funds?

  2025cites this paper
• Predicting Commodity Returns Through Image‐Based Price Patterns

  2025cites this paper
• Unencumbered by style: Why do funds change factor loadings, and does it help?

  2025cites this paper
• Assessing asymmetry risk premium in U.S. stock markets

  2025cites this paper
• Do investors benefit from MiFID II unbundling?

  2024cites this paper
• Predicting Mutual Fund Stress Levels Utilizing SEBI’s Stress Test Parameters in MidCap and SmallCap Funds Using Deep Learning Models

  2024cites this paper
• Liquidity provision and trading skill: Evidence from mutual funds' daily transactions

  2024cites this paper
• Exploring the Impact of Downside Risk on the Performance of Equity Funds

  2024cites this paper
• The backfire of mutual funds balancing financial objectives in ESG investments: Evidence from China

  2024cites this paper
• Sustainable in Name Only? Does Bluffing or Impact Explain Success in a Moral Market?

  2024cites this paper
• A Horizon‐Based Decomposition of Mutual Fund Value Added Using Transactions

  2024cites this paper
• Practice a poker face: Manager emotion and investor sentiment

  2024cites this paper
• Overseas exposures, global events, and mutual fund performance

  2024cites this paper
• Choice for smart investment in mutual funds: Single- or multi-period performance ranks

  2024cites this paper
• Do investor types matter? A comparative analysis of separate account characteristics and performance

  2024cites this paper
• Distortions Caused by Lending Fee Retention

  2024cites this paper
• Is it alpha or beta? Decomposing hedge fund returns when models are misspecified

  2024cites this paper
• Dual effects of investor sentiment and uncertainty in financial markets

  2024cites this paper
• How smart is smart money? Evidence from mutual funds' exposure on corporate misconduct

  2024cites this paper
• Analyzing the nature of fund selection measures: stock picking or trading skill?

  2024cites this paper
• UK mutual funds: performance persistence and portfolio size

  2023cites this paper
• Cashflow Timing vs. Discount-Rate Timing: An Examination of Mutual Fund Market-Timing Skills

  2023cites this paper
• Barking up the wrong tree: Return-chasing in 401(k) plans

  2023cites this paper
• Oil Price Uncertainty and M&A Activity

  2023cites this paper
• Portfolio Construction with News Sentiment using Large Language Model

  2023cites this paper
• Investor response to Morningstar's ratings, category information, and alpha in the Japanese mutual fund market

  2023cites this paper
• Partial portfolio disclosure, investors’ attention, and window dressing

  2023cites this paper
• Do Hedge Funds Exploit Material Nonpublic Information? Evidence from Corporate Bankruptcies

  2023cites this paper
• Are All Short-Term Institutional Investors Informed?

  2023cites this paper
• Sharpening the Sharpe Analysis with Machine Learning: Evidence of Mutual Fund Style-Shifting Skill

  2023cites this paper
• The Financial Statements of Investment Companies

  2023cites this paper
• Plan Menus, Retirement Portfolios, and Investors' Welfare

  2023cites this paper
• Do Active Funds Do Better in What They Trade?

  2023cites this paper
• Portfolio Turnover and Flow of Resources in Brazilian Equity Funds

  2023cites this paper
• Behavioral finance and the architecture of the asset management industry

  2022cites this paper
• Active Share and the Predictability of the Performance of Separate Accounts

  2022cites this paper
• Mutual fund performance persistence: Factor models and portfolio size

  2022cites this paper
• Maximum Drawdown as Predictor of Mutual Fund Performance and Flows

  2022cites this paper
• Forecasting the Long-Term Equity Premium for Asset Allocation

  2022cites this paper
• Liquidity Risks in Lending Protocols: Evidence from Aave Protocol

  2022cites this paper
• Effort Provision in a Game of Luck

  2021cites this paper
• Heterogeneous turnover-performance relations

  2021cites this paper
• Does portfolio concentration affect performance? Evidence from corporate bond mutual funds

  2021cites this paper
• Internet Appendix for " Skill , Scale , and Value Creation in the Mutual Fund Industry " ∗

  2021influential citation
• Can Mutual Fund Stars Still Pick Stocks?: A Replication and Extension of Kosowski, Timmermann, Wermers, and White (2006)

  2021cites this paper
• Charles A. Dice Center for Research in Financial Economics What Do Mutual Fund Investors Really Care About?

  2021influential citation
• Institutional investors and stock price volatility: a literature review

  2021cites this paper
• Smart Beta Made Smart

  2021cites this paper
• Cross-trading and liquidity management: Evidence from municipal bond funds

  2021cites this paper
• Selling Fast and Buying Slow: Heuristics and Trading Performance of Institutional Investors

  2021cites this paper
• The Information in Portfolio Holdings and Investors' Capital Allocations

  2021cites this paper
• Do machines beat humans? Evidence from mutual fund performance persistence

  2021cites this paper
• On the Valuation Skills of Corporate Bond Mutual Funds

  2021cites this paper
• The Mismatch Between Mutual Fund Scale and Skill

  2020cites this paper
• Mutual fund performance: The decision quality and capital magnet efficiencies

  2020cites this paper
• The use of ETFs and protective option strategies by delegated asset managers

  2020cites this paper
• Mutual Funds: Skill and Performance

  2020influential citation
• Does Sub-Advising Abroad Improve the Performance of International Mutual Funds?

  2020cites this paper
• Is Mutual Fund Family Retirement Money Smart?

  2020cites this paper
• Pension fund equity performance: Patience, activity or both?

  2020cites this paper
• Mutual Funds and Mispriced Stocks

  2020cites this paper
• Grow the Pie

  2020cites this paper
• Institutional trading, investor sentiment, and lottery‐like stock preferences

  2020cites this paper
• Active Share and the Predictability of Portfolio Performance: Out-of-Sample Evidence from Separate Accounts

  2020cites this paper
• Do mutual fund managers earn their fees? New measures for performance appraisal

  2020cites this paper
• Window dressing in equity mutual funds

  2020cites this paper
• Mutual Fund Performance and Flows during the COVID-19 Crisis

  2020cites this paper
• Turnover ratio and the performance of mutual funds

  2020cites this paper
• NBER WORKING PAPER SERIES MUTUAL FUND PERFORMANCE AND FLOWS DURING THE COVID-19 CRISIS Lubos

  2020cites this paper
• True Expense Ratio and True Alpha of Imperfect Diversification: Evidence from Stock Market in Bangladesh

  2020cites this paper
• Investor Heterogeneity and Liquidity

  2020cites this paper
• Uncertainty avoidance and mutual funds

  2020cites this paper
• STRATEGIC BORROWING FROM PASSIVE INVESTORS: IMPLICATIONS FOR SECURITY LENDING AND PRICE EFFICIENCY

  2020cites this paper
• Equity Volatility and Leverage – Loan Level Evidence

  2020cites this paper
• What Should Investors Care About? Mutual Fund Ratings by Analysts vs. Machine Learning Technique

  2020cites this paper
• Selecting Mutual Funds from the Stocks They Hold: A Machine Learning Approach

  2020cites this paper
• Government real estate interventions and the stock market

  2020cites this paper
• Decomposing Tracking Error to Identify Mutual Fund Strategies

  2020cites this paper
• Individual Commitment and Team Performance: Evidence from Mutual Fund Managers

  2020cites this paper
• Decomposing Fund Activeness

  2020cites this paper
• Active loan trading

  2020cites this paper
• Unobserved Performance of Hedge Funds

  2020cites this paper
• Benchmark Discrepancies and Mutual Fund Performance Evaluation

  2020cites this paper
• Limited attention and portfolio choice: The impact of attention allocation on mutual fund performance

  2020cites this paper