Wang, Nan-Yu; Huang, Chih-Jen; Hsu, Ying-Lin; Huang, … - In: International Journal of Economics and Financial Issues 5 (2015) 1, pp. 260-272
This study aims to examine whether funds with illiquid assets exhibit stronger sensitivity of redemption outflows to bad past performance than funds with liquid assets. An important aspect of our study is whether large outflows should damage future fund performance in illiquid funds more than in...
