Success and Failure on the Corporate Bond Fund Market

Beitrag in einer Fachzeitschrift


Details zur Publikation

Autorinnen und Autoren: Rohleder M, Scholz H, Wilkens M
Zeitschrift: Journal of Asset Management
Jahr der Veröffentlichung: 2018
Band: 19
Heftnummer: 6
Seitenbereich: 429-443
ISSN: 1470-8272
Sprache: Englisch


Abstract

We present the first broad overview of the
factors determining corporate bond fund success and failure in terms of
performance and survival. We show that the main determinant of survival
is size. Performance matters only for small funds while large funds
survive unconditionally, consistent with maintaining fee revenues. We
neither find persistence in performance nor diseconomies of scale. This
is due to advantages of larger funds in corporate bond trading. Other
fund and family characteristics are unrelated to performance and
survival, contrasting previous finings in equity funds. Thus, there are
similarities but also important differences between the factors
determining success and failure on the corporate bond and equity fund
markets.


FAU-Autorinnen und Autoren / FAU-Herausgeberinnen und Herausgeber

Scholz, Hendrik Prof. Dr.
Lehrstuhl für Betriebswirtschaftslehre, insbesondere Finanzierung und Banken


Einrichtungen weiterer Autorinnen und Autoren

Universität Augsburg


Zitierweisen

APA:
Rohleder, M., Scholz, H., & Wilkens, M. (2018). Success and Failure on the Corporate Bond Fund Market. Journal of Asset Management, 19(6), 429-443.

MLA:
Rohleder, Martin, Hendrik Scholz, and Marco Wilkens. "Success and Failure on the Corporate Bond Fund Market." Journal of Asset Management 19.6 (2018): 429-443.

BibTeX: 

Zuletzt aktualisiert 2019-01-03 um 16:53