Bargain Hunting or Star Gazing? Investors' Preferences for Stock Mutual Funds
Investors who wish to purchase shares in mutual funds balance many types of information, from a variety of sources, when making their fund selection. This research examines how investors choose a mutual fund within a given class of funds. Among the major findings are that investors pay a great deal of attention to past performance and vastly overweight loads relative to expense ratios when evaluating a fund's overall fee structure. I also find that investors with a greater knowledge of basic finance are less likely, not more likely, to make reasonable fund choices.
Year of publication: |
2003
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Authors: | Wilcox, Ronald T. |
Published in: |
The Journal of Business. - University of Chicago Press. - Vol. 76.2003, 4, p. 645-664
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Publisher: |
University of Chicago Press |
Saved in:
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