The rise of institutional investors in stock ownership is a common phenomenon observed around the world, and the importance and influence of foreign investors is also increasing, especially in Asian markets. This study examines the characteristics of institutional and foreign investor stock...

This study compares a measure of market-share changes with net flows to revisit the fund flow-performance relationship from the viewpoint of the heteroscedasticity of fund flows. We decompose market-share changes (net flows) into inflow and outflow shares and other parts (inflow and outflow) to...

This paper investigates the relation between international mutual fund flow and local/home market returns following Warther (1995) and Froot, O'Connell and Seasholes (2001). Like the U.S. domestic results, the concurrent local market return is found to be very important to explain the...