Year: 1996
Type: article
Abstract: A pooled cross-section/time series analysis is used to assess the long-run relationship between risk-adjusted performance of equity mutual funds and asset size, expense ratios, portfolio turnover, and load/no-load status. The data base consists of investment results of 151 equity mutual funds in continual operation over the 20-year period from 1971 to 1990. Variations of the cross-section/time series model are employed to explore the interactions among the nature of the funds (load or no-load) with asset size and expense ratios. Investment performance is not related to asset size, turnover rate, or load/no-load status, and higher expenses are associated with higher returns.
Authors: William G. Droms, David A. Walker
Institution: Georgetown University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $2,740
OpenAlex ID: W1971964375