Many retail investment platforms have introduced artificial intelligence (AI) analysts to help individual investors gather insights and evaluate investment products. Yet, there is scant empirical effort examining the business impact of such an AI tool on individual investors' financial market...

In this paper we analyze the relation between fund performance and market share. Using three performance measures we first establish that significant differences in the risk-adjusted returns of the funds in the sample exist. Thus, investors may react to past fund performance when making their...

In the mutual fund literature, it is an established fact that investors "chase past performance". However, the opposite impact of flows on performance is widely discussed. Mainly, liquidity costs are held responsible for short-term erosion of performance, while high inflows enhance performance...