| 我国基金规模对业绩及其投资行为的影响分析 |
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| 引用本文： | 杨宁,陈永生.我国基金规模对业绩及其投资行为的影响分析[J].投资研究,2011(7):98-105. |
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| 作者姓名： | 杨宁 陈永生 |
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| 作者单位： | 西南财经大学金融学院; |
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| 基金项目： | 西南财经大学“211”课题“中国现代金融发展与创新”子课题——“证券投资基金业绩评价方法研究”的阶段性成果 |
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| 摘 要： | 本文从实证角度出发,采用面板数据分析法研究基金规模与业绩及其投资行为之间的关系。结果显示:随着基金规模的扩大,基金经理先是倾向于提高投资组合内股票的持股比例,然后才是增加股票的数目,提高投资的分散化程度。大型基金随规模变大其投资分散化程度提高较显著;而大盘股基金随规模扩大其持股比例提高的程度较显著。
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| 关 键 词： | 基金规模 基金业绩 投资行为 |
An Empirical Study of the Influence of Funds' Size on Their Performance and Investment Behavior in China |
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| Yang Ning,Chen Yongsheng.An Empirical Study of the Influence of Funds' Size on Their Performance and Investment Behavior in China[J].Investment Research,2011(7):98-105. |
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| Authors: | Yang Ning Chen Yongsheng |
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| Institution: | Yang Ning,Chen Yongsheng |
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| Abstract: | Based on panel data methodology,this paper empirically analyzes the influence of funds' size on their performance and investment behavior.The empirical results indicate that,as the funds' size get larger,funds managers tend to increase the holding shares of stocks in the portfolio firstly,and then to increase the number of stocks in the portfolio,in order to diversify the investment. We also find that,as the funds' size get larger,funds with high TNA(total net assets) tend to increase the diversification of... |
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| Keywords: | Funds size Fund performance Investment behavior |
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