create a website

Fund tournaments and style drift. (2024). Yan, Yuelin ; Yi, LI.
In: International Review of Financial Analysis.
RePEc:eee:finana:v:96:y:2024:i:pb:s1057521924006628.

Full description at Econpapers || Download paper

Cited: 1

Citations received by this document

Cites: 36

References cited by this document

Cocites: 56

Documents which have cited the same bibliography

Coauthors: 0

Authors who have wrote about the same topic

Citations

Citations received by this document

  1. Mutual fund style drift measured using higher moments and its cash flow incentive. (2025). Chen, QI ; Yang, Dong ; Wang, Peng.
    In: The North American Journal of Economics and Finance.
    RePEc:eee:ecofin:v:76:y:2025:i:c:s1062940825000130.

    Full description at Econpapers || Download paper

References

References cited by this document

  1. Agarwal, V. ; Jiang, L. ; Wen, Q. Why do mutual funds hold lottery stocks?. 2022 Journal of Financial and Quantitative Analysis. 57 825-856

  2. Amihud, Y. ; Goyenko, R. Mutual fund’s R2 as predictor of performance. 2013 Review of Financial Studies. 26 667-694
    Paper not yet in RePEc: Add citation now
  3. Brown, K.C. ; Harlow, W.V. ; Starks, L.T. Of tournaments and temptations: An analysis of managerial incentives in the mutual fund industry. 1996 Journal of Finance. 51 85-110

  4. Brown, K.C. ; Harlow, W.V. ; Zhang, H. Investment style volatility and mutual fund performance. 2015 En : Working paper. University of Texas:
    Paper not yet in RePEc: Add citation now
  5. Buetow, G.W. ; Johnson, R.R. ; Runkle, D.E. The inconsistency of return-based style analysis. 2000 Journal of Portfolio Management. 26 61-77
    Paper not yet in RePEc: Add citation now
  6. Cao, C. ; Iliev, P. ; Velthuis, R. Style drift: Evidence from small-cap mutual funds. 2017 Journal of Banking and Finance. 78 42-57

  7. Carhart, M.M. On persistence in mutual fund performance. 1997 Journal of Finance. 52 57-82

  8. Chen, J. ; Hong, H. ; Stein, J.C. Forecasting crashes, trading volume, past returns, and conditional skewness in stock prices. 2001 Journal of Financial Economics. 61 345-381

  9. Chevalier, J. ; Ellison, G. Risk taking by mutual funds as a response to incentives. 1997 Journal of Political Economy. 105 1167-1200

  10. Chua, A.K.P. ; Tam, O.K. The shrouded business of style drift in active mutual funds. 2020 Journal of Corporate Finance. 64 -

  11. Cremers, K.J.M. ; Petajisto, A. How active is your fund manager? A new measure that predicts performance. 2009 Review of Financial Studies. 22 3329-3365

  12. Daniel, K. ; Grinblatt, M. ; Titman, S. ; Wermers, R. Measuring mutual fund performance with characteristic-based benchmarks. 1997 Journal of Finance. 52 1035-1058

  13. Dimson, E. Risk measurement when shares are subject to infrequent trading. 1979 Journal of Financial Economics. 7 197-226

  14. Fama, E.F. ; French, K.R. A five-factor asset pricing model. 2015 Journal of Financial Economics. 116 1-22

  15. Fama, E.F. ; French, K.R. Common risk factors in the returns on stocks and bonds. 1993 Journal of Financial Economics. 33 3-56

  16. Fama, E.F. ; MacBeth, J.D. Risk, return, and equilibrium: Empirical tests. 1973 Journal of Political Economy. 81 607-636

  17. Fu, Y. ; Hua, P. ; Chen, Q. ; Zhou, S. Information sharing and fund performance: Evidence from the US mutual fund family. 2022 Investment Analysts Journal. 51 301-318
    Paper not yet in RePEc: Add citation now
  18. Guo, X. ; Ma, W. ; Liu, X. ; Mo, Y. Fund investor cliques and flow sensitivity-evidence from China. 2023 Finance Research Letters. 58 -

  19. Herrmann, U. ; Rohleder, M. ; Scholz, H. Does style-shifting activity predict performance? Evidence from equity mutual funds. 2016 The Quarterly Review of Economics and Finance. 59 112-130

  20. Huang, J. ; Wei, K.D. ; Yan, H. Participation costs and the sensitivity of fund flows to past performance. 2007 Journal of Finance. 62 1273-1311

  21. Hutton, A.P. ; Marcus, A.J. ; Tehranian, H. Opaque financial reports, R2, and crash risk. 2009 Journal of Financial Economics. 94 67-86

  22. Jensen, M.C. The performance of mutual funds in the period 1945-1964. 1968 Journal of Finance. 23 389-416

  23. Kacperczyk, M. ; Sialm, C. ; Zheng, L. On the industry concentration of actively managed equity mutual funds. 2005 Journal of Finance. 60 1983-2011

  24. Kim, J.-B. ; Li, Y. ; Zhang, L. CFOs versus CEOs: Equity incentives and crashes. 2011 Journal of Financial Economics. 101 713-730

  25. Kim, J.-B. ; Li, Y. ; Zhang, L. Corporate tax avoidance and stock price crash risk: Firm level analysis. 2011 Journal of Financial Economics. 100 639-662

  26. Kurniawan, M. ; How, J. ; Verhoeven, P. Fund governance and style drift. 2016 Pacific-Basin Finance Journal. 40 59-72

  27. Li, C.W. ; Tiwari, A. ; Tong, L. Mutual fund tournaments and fund active share. 2022 Journal of Financial Stability. 63 -

  28. Li, X. ; Wu, W. Portfolio pumping and fund performance ranking: A performance-based compensation contract perspective. 2019 Journal of Banking and Finance. 105 94-106

  29. Liu, J. ; Yi, W. Does the style drift caused by frequent cross-industry portfolio rebalancing harm fund performance? Evidence from China. 2024 Finance Research Letters. 60 -

  30. Qiu, J. Termination risk, multiple managers and mutual fund tournaments. 2003 European Finance Review. 7 161-190

  31. Sha, Y. The devil in the style: Mutual fund style drift, performance and common risk factors. 2020 Economic Modelling. 86 264-273

  32. Sharpe, W.F. Asset allocation: Management style and performance measurement. 1992 Journal of Portfolio Management. 18 7-19
    Paper not yet in RePEc: Add citation now
  33. Sirri, E.R. ; Tufano, P. Costly search and mutual fund flows. 1998 Journal of Finance. 53 1589-1622

  34. Taylor, J. Risk-taking behavior in mutual fund tournaments. 2003 Journal of Economic Behavior & Organization. 50 373-383

  35. Wermers, R. A matter of style: The causes and consequences of style drift in institutional portfolios. 2012 En : Working paper. University of Maryland:

  36. Yi, L. ; Xiao, L. ; Liao, Y. Network centrality, style drift, and mutual fund performance. 2024 Research in International Business and Finance. 70 -

Cocites

Documents in RePEc which have cited the same bibliography

  1. The tale of two tails and stock returns for two major emerging markets. (2025). Sehgal, Sanjay ; Deisting, Florent ; Agrawal, Tarunika Jain.
    In: Review of Quantitative Finance and Accounting.
    RePEc:kap:rqfnac:v:64:y:2025:i:1:d:10.1007_s11156-024-01301-4.

    Full description at Econpapers || Download paper

  2. The “Betting” behavior of mutual fund families. (2025). Meng, Lili ; Wu, Yanran.
    In: Finance Research Letters.
    RePEc:eee:finlet:v:77:y:2025:i:c:s1544612325002454.

    Full description at Econpapers || Download paper

  3. Mutual fund style drift measured using higher moments and its cash flow incentive. (2025). Chen, QI ; Yang, Dong ; Wang, Peng.
    In: The North American Journal of Economics and Finance.
    RePEc:eee:ecofin:v:76:y:2025:i:c:s1062940825000130.

    Full description at Econpapers || Download paper

  4. Taking matters into their own hands: How Investors stock preferences affect mutual fund flows in China. (2024). Li, Shi ; Fu, Rongsha.
    In: Pacific-Basin Finance Journal.
    RePEc:eee:pacfin:v:88:y:2024:i:c:s0927538x24002890.

    Full description at Econpapers || Download paper

  5. Fund tournaments and style drift. (2024). Yan, Yuelin ; Yi, LI.
    In: International Review of Financial Analysis.
    RePEc:eee:finana:v:96:y:2024:i:pb:s1057521924006628.

    Full description at Econpapers || Download paper

  6. Fund flows inducing mispricing of risk in competitive financial markets. (2015). Stahmer, Axel .
    In: ESMT Research Working Papers.
    RePEc:esm:wpaper:esmt-15-04.

    Full description at Econpapers || Download paper

  7. A comparison of buy-side and sell-side analysts. (2015). Singh, Vivek ; Hobbs, Jeffrey.
    In: Review of Financial Economics.
    RePEc:eee:revfin:v:24:y:2015:i:c:p:42-51.

    Full description at Econpapers || Download paper

  8. Measuring bond mutual fund performance with portfolio characteristics. (2015). Moneta, Fabio.
    In: Journal of Empirical Finance.
    RePEc:eee:empfin:v:33:y:2015:i:c:p:223-242.

    Full description at Econpapers || Download paper

  9. Short-Sale Constraints and the Pricing of Managerial Skills. (2015). Cheng, SI ; Massa, Massimo ; Zhang, Hong.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:10447.

    Full description at Econpapers || Download paper

  10. Search-for-Yield in Canadian Fixed-Income Mutual Funds and Monetary Policy. (2014). Sierra Jimenez, Jesus ; Gungor, Sermin.
    In: Staff Working Papers.
    RePEc:bca:bocawp:14-3.

    Full description at Econpapers || Download paper

  11. An improved test for statistical arbitrage. (2012). Jarrow, Robert ; Tse, Yiu Kuen ; Warachka, Mitch ; Teo, Melvyn.
    In: Journal of Financial Markets.
    RePEc:eee:finmar:v:15:y:2012:i:1:p:47-80.

    Full description at Econpapers || Download paper

  12. American Idol: should it be a singing contest or a popularity contest?. (2009). Amegashie, J. Atsu.
    In: Journal of Cultural Economics.
    RePEc:kap:jculte:v:33:y:2009:i:4:p:265-277.

    Full description at Econpapers || Download paper

  13. The impact of prior performance on the risk-taking of mutual fund managers. (2009). Ammann, Manuel.
    In: Annals of Finance.
    RePEc:kap:annfin:v:5:y:2009:i:1:p:69-90.

    Full description at Econpapers || Download paper

  14. Risk-Taking Tournaments: Theory and Experimental Evidence. (2008). Sliwka, Dirk ; Nieken, Petra.
    In: IZA Discussion Papers.
    RePEc:iza:izadps:dp3400.

    Full description at Econpapers || Download paper

  15. Will Women Be Women? Analyzing the Gender Difference among Financial Experts. (2008). Menkhoff, Lukas ; Beckmann, Daniela.
    In: Hannover Economic Papers (HEP).
    RePEc:han:dpaper:dp-391.

    Full description at Econpapers || Download paper

  16. Optimal Risk Taking in an Uneven Tournament Game with Risk Averse Players. (2007). Kräkel, Matthias ; Krakel, Matthias.
    In: Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems.
    RePEc:trf:wpaper:200.

    Full description at Econpapers || Download paper

  17. On the use of data envelopment analysis in hedge fund performance appraisal. (2007). Nguyen, Thi Thanh Huyen.
    In: Money Macro and Finance (MMF) Research Group Conference 2006.
    RePEc:mmf:mmfc06:131.

    Full description at Econpapers || Download paper

  18. A Few Bad Apples? Scandalous Behavior of Mutual Fund Managers. (2007). Payne, Tyge G. ; Davis, Justin ; McMahan, Gary.
    In: Journal of Business Ethics.
    RePEc:kap:jbuset:v:76:y:2007:i:3:p:319-334.

    Full description at Econpapers || Download paper

  19. The use of derivatives in the spanish mutual fund industry. (2007). Marin, Jose ; Rangel, Thomas A..
    In: Working Papers.
    RePEc:imd:wpaper:wp2007-22.

    Full description at Econpapers || Download paper

  20. The use of derivatives in the Spanish mutual fund industry. (2006). Marin, Jose ; Rangel, Thomas A..
    In: Economics Working Papers.
    RePEc:upf:upfgen:990.

    Full description at Econpapers || Download paper

  21. The Making of an Investment Banker: Macroeconomic Shocks, Career Choice, and Lifetime Income. (2006). Oyer, Paul.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:12059.

    Full description at Econpapers || Download paper

  22. Quantitative selection of hedge funds using data envelopment analysis. (2006). Nguyen, Thi Thanh Huyen.
    In: Post-Print.
    RePEc:hal:journl:halshs-00067742.

    Full description at Econpapers || Download paper

  23. Famille de fonds de pension, performance et persistance de la performance. (2006). Herve, Fabrice.
    In: Working Papers CREGO.
    RePEc:dij:wpfarg:1060903.

    Full description at Econpapers || Download paper

  24. Relative Performance, Risk and Entry in the Mutual Fund Industry. (2006). Sciubba, Emanuela ; Loranth, Gyongyi.
    In: Birkbeck Working Papers in Economics and Finance.
    RePEc:bbk:bbkefp:0612.

    Full description at Econpapers || Download paper

  25. When in peril, retrench: Testing the portfolio channel of contagion. (2005). Reinhart, Carmen ; Gelos, R. Gaston ; Broner, Fernando.
    In: Economics Working Papers.
    RePEc:upf:upfgen:864.

    Full description at Econpapers || Download paper

  26. Institutional Investor Activism: Does the Portfolio Management Skill Matter?. (2005). Mendes, Victor ; Alves, Carlos.
    In: FEP Working Papers.
    RePEc:por:fepwps:184.

    Full description at Econpapers || Download paper

  27. Unobserved Actions of Mutual Funds. (2005). Zheng, Lu ; Sialm, Clemens ; Kacperczyk, Marcin.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:11766.

    Full description at Econpapers || Download paper

  28. Mutual Fund Growth in Standard and Specialist Market Segments. (2005). Ruenzi, Stefan.
    In: Financial Markets and Portfolio Management.
    RePEc:kap:fmktpm:v:19:y:2005:i:2:p:153-167.

    Full description at Econpapers || Download paper

  29. Delegated portfolio management: a survey of the theoretical literature. (2005). Stracca, Livio.
    In: Working Paper Series.
    RePEc:ecb:ecbwps:2005520.

    Full description at Econpapers || Download paper

  30. Mutual Fund Growth in Standard and Specialist Market Segments. (2004). Ruenzi, Stefan.
    In: Finance.
    RePEc:wpa:wuwpfi:0406005.

    Full description at Econpapers || Download paper

  31. Tournaments in Mutual Fund Families. (2004). Ruenzi, Stefan ; Kempf, Alexander.
    In: Finance.
    RePEc:wpa:wuwpfi:0404011.

    Full description at Econpapers || Download paper

  32. Self-Interest on Mutual Fund Management: Evidence from the Portuguese Market. (2004). Mendes, Victor ; Alves, Carlos.
    In: FEP Working Papers.
    RePEc:por:fepwps:162.

    Full description at Econpapers || Download paper

  33. When in Peril, Retrench: Testing the Portfolio Channel of Contagion. (2004). Reinhart, Carmen ; Gelos, R. Gaston ; Broner, Fernando.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:10941.

    Full description at Econpapers || Download paper

  34. Defaultable debt, interest rates and the current account. (2004). Gopinath, Gita ; Aguiar, Mark ; Gelos, Gaston ; Broner, Fernando.
    In: Proceedings.
    RePEc:fip:fedfpr:y:2004:i:jun:x:9.

    Full description at Econpapers || Download paper

  35. Do Shareholders Preferences Affect their Funds Management? Evidence from the Cross Section of Shareholders and Funds. (2004). Reed, Adam ; Geczy, Christopher ; Christoffersen, Susan ; Musto, David K..
    In: CIRANO Working Papers.
    RePEc:cir:cirwor:2004s-22.

    Full description at Econpapers || Download paper

  36. Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization. (2004). HUANG, MING ; Hong, Harrison ; Chen, Joseph ; Kubik, Jeffrey D..
    In: American Economic Review.
    RePEc:aea:aecrev:v:94:y:2004:i:5:p:1276-1302.

    Full description at Econpapers || Download paper

  37. Compensation, Career Concerns, and Relative Risk Choices by Mutual Fund Managers: Theory and Evidence. (2003). Hu, Ping ; Kale, Jayant.
    In: Levine's Bibliography.
    RePEc:cla:levrem:666156000000000349.

    Full description at Econpapers || Download paper

  38. Mutual Fund Flows and Performance in Rational Markets. (2002). Green, Richard C. ; Berk, Jonathan B..
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9275.

    Full description at Econpapers || Download paper

  39. Should Smart Investors Buy Funds with High Returns in the Past?. (2002). Uhlig, Harald ; Palomino, Frederic.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:3282.

    Full description at Econpapers || Download paper

  40. Star power: the effect of Morningstar ratings on mutual fund flows. (2001). Tkac, Paula ; Del Guercio, Diane.
    In: FRB Atlanta Working Paper.
    RePEc:fip:fedawp:2001-15.

    Full description at Econpapers || Download paper

  41. Derivatives Do Affect Mutual Funds Returns : How and When?. (2001). Ghysels, Eric ; Cao, Charles ; Hatheway, Frank.
    In: CIRANO Working Papers.
    RePEc:cir:cirwor:2001s-62.

    Full description at Econpapers || Download paper

  42. Fee Waivers in Money Market Mutual Funds. (2000). Christoffersen, Susan.
    In: Center for Financial Institutions Working Papers.
    RePEc:wop:pennin:97-46.

    Full description at Econpapers || Download paper

  43. An Empirical Investigation of Gaming Responses to Performance Incentives. (2000). Marschke, Gerald ; Courty, Pascal.
    In: Discussion Papers.
    RePEc:nya:albaec:00-12.

    Full description at Econpapers || Download paper

  44. Tournament Rewards and Risk Taking. (2000). Hvide, Hans.
    In: Econometric Society World Congress 2000 Contributed Papers.
    RePEc:ecm:wc2000:0163.

    Full description at Econpapers || Download paper

  45. Asset Markets: How They Are Affected by Tournament Incentives for Individuals. (2000). Isaac, R. ; James, Duncan.
    In: American Economic Review.
    RePEc:aea:aecrev:v:90:y:2000:i:4:p:995-1004.

    Full description at Econpapers || Download paper

  46. On Mutual Fund Investment Styles. (1999). Louis K. C. Chan, ; Lakonishok, Josef ; Chen, Hsiu-Lang.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:7215.

    Full description at Econpapers || Download paper

  47. Book reviews. (1999). Valli, Vittorio ; Balk, Bert ; Krakel, M. ; Whalley, J. ; Lorenz, H..
    In: Journal of Economics.
    RePEc:kap:jeczfn:v:69:y:1999:i:1:p:96-111.

    Full description at Econpapers || Download paper

  48. Mutual Fund Returns and Market Microstructure.. (1999). Reed, Adam ; Kaniel, Ron ; Carhart, Mark ; Musto, David K..
    In: Rodney L. White Center for Financial Research Working Papers.
    RePEc:fth:pennfi:11-99.

    Full description at Econpapers || Download paper

  49. Do investors mistake a good company for a good investment?. (1999). Antunovich, Peter ; Laster, David S..
    In: Staff Reports.
    RePEc:fip:fednsr:60.

    Full description at Econpapers || Download paper

  50. Why Focus? A Study of Intra-Industry Focus Effects. (1998). Siggelkow, Nicolaj.
    In: Center for Financial Institutions Working Papers.
    RePEc:wop:pennin:99-13.

    Full description at Econpapers || Download paper

  51. Conditional Market Timing with Benchmark Investors. (1998). Ferson, Wayne ; Schill, Michael ; Myers, David ; Becker, Connie.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:6434.

    Full description at Econpapers || Download paper

  52. Incentives in Organizations. (1998). Gibbons, Robert.
    In: Journal of Economic Perspectives.
    RePEc:aea:jecper:v:12:y:1998:i:4:p:115-32.

    Full description at Econpapers || Download paper

  53. Management Compensation and the Performance of Mutual Funds. (1997). Kotowitz, Yehuda .
    In: Working Papers.
    RePEc:tor:tecipa:berk-97-01.

    Full description at Econpapers || Download paper

  54. Price versus Quantity: Market Clearing Mechanisms When Sellers Differ in Quality. (1996). Zeckhauser, Richard ; Metrick, Andrew.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:5728.

    Full description at Econpapers || Download paper

  55. Compensation incentives and risk taking behavior: evidence from mutual funds. (1996). Orphanides, Athanasios.
    In: Finance and Economics Discussion Series.
    RePEc:fip:fedgfe:96-21.

    Full description at Econpapers || Download paper

  56. Too much cocited documents. This list is not complete

Coauthors

Authors registered in RePEc who have wrote about the same topic

Report date: 2025-09-30 04:18:35 || Missing content? Let us know

CitEc is a RePEc service, providing citation data for Economics since 2001. Last updated August, 3 2024. Contact: Jose Manuel Barrueco.