Stabsseminar torsdag

Institutt for foretaksøkonomi har stabsseminar torsdag 25. mars. Christopher Malloy fra London Business School holder seminaret. Temaet er "Mutual Fund Choices and Investor Demographics".

24.03.2004 - Frode Martin Nordvik

Tid: klokken 12.15-13.30

Sted: Auditorium C

Abstract:

"We test the hypothesis that investment in actively managed mutual funds is linked to investor clienteles. We document that individual investors located in less affluent, less educated, and ethnic minority neighborhoods invest more in funds with expensive load fees. They also
tend to invest a disproportionate amount in funds with no minimum-balance requirements, and find fewer funds and (fewer no-load funds in particular) to invest in. Our results suggest that less sophisticated neighborhoods may be faced with an inferior investment opportunity set. We find no evidence that investors in these areas tend
to trade significantly more or are more likely to redeem their fund holdings each year."

Paper er tilgjengelig her.