Pii: S1057-0810(99)00023-2
نویسندگان
چکیده
This paper examines responses from a survey of 2,000 randomly selected mutual fund investors who purchased shares from six different distribution channels. The survey provides data on the demographic, financial, and fund ownership characteristics of mutual fund investors. It also provides data on investors’ knowledge of the costs and investment risks of mutual funds and the information sources these investors use to learn about these costs and risks. Our survey results strongly suggest there is room for improvement in the level of financial literacy of mutual fund investors. © 1999 Elsevier Science Inc. All rights reserved.
منابع مشابه
Pii: S1057-0810(99)00032-3
Recent studies have uncovered several systematic patterns that increase the probability that individual investors can select stock portfolios with excess returns. This study tests the feasibility of using a commercially available computerized stock screening program for investors to take advantage of these patterns. The screening program searches the three major exchanges and selects stocks on ...
متن کاملPii: S1057-0810(99)00033-5
The purpose of this paper is to provide an overview of the municipal bond market with an emphasis on the numerous embedded contingent claims. Embedded contingent claims include the standard call features, sinking funds, the advance refunding option, the synthetic advance refunding option, the credit risk option (default risk), marketability, and the numerous tax-related events. Municipal bond i...
متن کاملPii: S1057-0810(99)00035-9
This study provides new insight into the market’s allocation of dividend-related and capital gains-based returns on common stock around earnings announcement surprises. To the extent that investors’ cash flow forecasts are revised as earnings surprises occur, Americus Trust prime and score returns reflect changes in respective future dividends and capital gains. About 70% of the value gain from...
متن کاملPii: S1057-0810(01)00068-3
Evidence suggests that predictabilities in asset class returns exist but transactions costs prevent exploiting them using individual securities. Extant research also shows that these relationships may by exploitable through the trading of mutual funds but fails to examine whether this relationship exists within an individual fund family. This paper finds that TIAA/CREF retirement annuities exhi...
متن کاملPii: S1057-0810(01)00077-4
Investing and consuming may not be so different as traditional economic theory has understood them. The consumer research literature has begun to view consumption not simply as rational decisionmaking, but as a more multisensory activity in which emotion and fantasy play important, if not essential, roles. This new perspective has been extended by Holt (1995) in a matrix of metaphors in which c...
متن کامل