Explaining the Size of the Mutual Fund Industry Around the World

By Ajay Khorana, Henri Servaes, Peter Tufano. 2005

207 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/476162caf940c6d6a5f1bb95b14e63babb4ab2af

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In Accounting

1. Jason Zein
2. Ronald W. Masulis
3. Peter K. Pham
4. Hieu V. Phan
5. N. Travlos
6. Luc Renneboog

In Finance

1. Ronald W. Masulis
2. Peter K. Pham
3. Jason Zein

Citations in the corpus

• Do Investors Trade More When Stocks Have Performed Well? Evidence from 46 Countries (2007, unknown): “Lakonishok and Smidt (1986), Odean (1998a), and Grinblatt and Keloharju (2000) all find evidence in support of the disposition effect.”
• Mutual Fund Fees Around the World (2009, unknown): “Khorana et al. (2005) find that nations whose laws protect fund investors have larger industries.”
• The colors of investors’ money: The role of institutional investors around the world (2008, unknown): “…trillion reported by FactSet/LionShares is somewhat lower than the total value of US$ 20 trillion reported in IMF statistics.7 But FactSet/LionShares aggregate holdings are well above the holdings of the mutual funds segment as in Khorana, Servaes, and Tufano (2005) and Chan, Covrig, and Ng (2005).”
• Which Money is Smart? Mutual Fund Buys and Sells of Individual and Institutional Investors (2008, unknown): “…than in the United States.2 At the end of 2000 (which coincides with the end of our sample period), 155 fund families ran 1,937 mutual funds managing £261 billion (or $390 billion) in assets,3 making the U.K. mutual fund industry one of the largest outside the United States (Khorana et al. (2005)).”
• The Determinants of Mutual Fund Performance: A Cross-Country Study (2013, unknown): “Data is from Khorana et al. (2005). The correlation coefficient is a proxy for the diversification potential.”
• Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices (2011, methodology): “La Porta et al. (1999) document substantial variations in ownership concentration across 27 countries, based on a sample of each country’s 20 largest firms.”
• Indexing and Active Fund Management: International Evidence (2016, unknown): “In columns (1), (3), and (5) we test whether indexing is related to regulatory factors (Khorana, Servaes, and Tufano, 2005): the extent to which regulatory approvals are required to set up a fund (Approval) and the quality of a country’s judicial system (Judicial).21 We find that a more restrictive…”
• Emerging Market Mutual Fund Performance: Evidence for Poland (2011, unknown): “(2006) and Khorana et al. (2005) there is a positive relation between risk-adjusted A notable exception to this is offered by Otten & Bams (2002).”
• The flow-performance relationship around the world (2012, unknown): “We gather data on the start year of the mutual fund industry in each country in our sample from Khorana et al. (2005) and use that to calculate fund industry age. Industry age and the ratio of industry size to GDP might be expected to affect investor sophistication at the early stages of fund indust”
• Understanding Commonality in Liquidity Around the World (2011, unknown): “Khorana et al. (2005) Foreign inst. ownership / market cap Foreign institutional ownership as of December 2005, expressed as a percentage of the aggregate local market capitalization.”