Abstract
To the best of our knowledge, this is the first study to explore fund investors’ patterns with respect to hot vis-à-vis non-hot purchase periods and hot vis-à-vis non-hot redemption periods. To achieve this, we use quantile regression least square dummy variable estimator, and find that the patterns of hot and non-hot behavior are significantly different. For example, higher fees do not deter investors from purchasing funds at hot purchase periods, but they do have a negative impact at non-hot purchase periods. It seems important, therefore, to be mindful of such differences when studying fund investors’ investment behaviors.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
