| Autor: |
Knuutila, Mikko, Puttonen, Vesa, Smythe, Tom |
| Předmět: |
|
| Zdroj: |
Journal of Financial Services Marketing; Aug2007, Vol. 12 Issue 1, p88-96, 9p, 4 Charts, 1 Graph |
| Abstrakt: |
The Morningstar fund rating has been reported to affect mutual fund flows in the US markets. This paper finds that flow patterns in Finnish bank-managed funds are significantly different from the patterns in the US. Specifically, non-bank funds attract flows in a manner similar to the US markets, that is Morningstar ratings affect fund flows. In contrast, Finnish bank-managed funds do not exhibit the same relationship between star ratings and flows. The results suggest that in Finland, five-star Morningstar ratings are not regarded as highly as in the US, where good performance attracts significantly higher flows. More significantly, our findings demonstrate the importance of banks' distribution channels in the Finnish financial market.Journal of Financial Services Marketing (2007) 12, 88–96. doi:10.1057/palgrave.fsm.4760058 [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
|
