Truth in mutual fund advertising: Evidence on future performance and fund flows

By Prem C. Jain, Joanna S. Wu. 2000

526 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d0b42301b4b67ec64c30ef87d05532d4473595b1

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Citations in the corpus

Marketing and Firm Value: Metrics, Methods, Findings, and Future Directions (2009, unknown): “In other words, investors are biased toward investing more in mutual funds with higher levels of advertising, even though these funds are not associated with higher postadvertising excess returns (Jain and Wu 2000; Mullainathan and Shleifer 2005).”
Investor Psychology in Capital Markets: Evidence and Policy Implications (2001, background): “Jain and Wu (2000) provide evidence that investors do respond to marketing pressures by brokers and to mutual fund advertising.”
Sex matters: Gender differences in a professional setting (2007, background): “…managers by not advertising female managed funds to the same degree as male managed funds.29 According to Gallaher, Kaniel, and Starks (2006) and Jain and Wu (2000) a lower degree of 28Regarding our results on the influence of the control variables, we find a strong influence of fund size on…”
Changing Names with Style: Mutual Fund Name Changes and Their Effects on Fund Flows (2005, background): “The fact that increased flows are associated with increased marketing expenditures is consistent with Jain and Wu (2000) and Sirri and Tufano (1998).”
Strategic Price Complexity in Retail Financial Markets (2009, background): “The product may be used by households to finance the purchase of consumption goods (for example, a credit card) or as an investment vehicle to maximize lifetime utility (for example, an index fund).”
Tournaments in Mutual Fund Families (2008, background): “Furthermore, if the top management directs marketing efforts towards an individual fund, this will attract higher inflows into that fund (see Jain and Wu (2000), Khorana and Servaes (2003), and Nanda, Wang, and Zheng (2004)).”
WSJ Category Kings - the impact of media attention on consumer and mutual fund investment decisions (2017, unknown): “We observe a significant discontinuity for each of these indicators, showing that appearing on the top 10 publication causes a 26 percentage point increase in the probability that a fund complex will increase the average size of ads it publishes following publication, compared with pre-publication (”
Do expert reviews really drive demand? Evidence from a German car magazine (2015, background): “As a result, the literature on recommendations of financial products is significantly larger than on media products and food (see Sirri and Tufano, 1998; Jain and Wu, 2000; Cronquist, 2006; and Reuter and Zitzewitz, 2006).”
Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry (2009, unknown): “Financial advisors, as fiduciaries 3 See Jain and Wu (2000), Cronqvist (2005), Gallaher, Kaniel, and Starks (2004), Mullainathan and Shleifer (2005), and Reuter and Zitzewitz (2006).”
Are Investors Rational? Choices among Index Funds (2004, background): “See Jain and Wu (2000) for a study of advertising and fund flows. of beta minus one, is insignificant.”
Disentangling Risk and Change (2015, background): “Scholars have shown that fund managers routinely benchmark their returns against the returns of other funds (e.g., Jain and Wu, 2000; Gallaher, Kaniel, and Starks, 2006; Gaspar, Massa, and Matos, 2006; Kempf and Ruenzi, 2008).”
Yet Another Puzzle? The Relation between Price and Performance in the Mutual Fund Industry (2007, unknown): “Building on previous work on fund flows (Sirri and Tufano, 1998; Jain and Wu, 2000; Nanda et al., 2005; Huang et al., 2006), in the first step, we estimate a flow equation that relates fund flows to different fund characteristics.”