منابع مشابه
What determines mutual fund size?
The mutual fund industry manages about a quarter of the assets in the U.S. stock market and thus plays an important role in the U.S. economy. The question of how much control is concentrated in the hands of the largest players can be quantitatively discussed in terms of the tail behavior of the mutual fund size distribution. We study the distribution empirically and show that the tail is better...
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We investigate the process of mutual fund growth both empirically and theoretically. Empirically the mutual fund size distribution is better described by a lognormal than by a power law. We explain this with a stochastic growth model based on multiplicative growth, creation and annihilation. The model is in good agreement with the data, and predicts the distribution evolves from a log normal in...
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ژورنال
عنوان ژورنال: Accounting & Finance
سال: 2008
ISSN: 0810-5391,1467-629X
DOI: 10.1111/j.1467-629x.2008.00267.x