摘要
本文采用2006-2007年的季度数据对我国股票型开放式基金的赎回行为进行研究,结果表明基金单位净值增长率、基金分红、基金流动性和股票市场收益是影响基金赎回行为的重要因素,同时利用行为金融学理论进行解释,进而为基金流动性风险管理提出政策建议。
In this paper, the redemption behavior of mutual equity funds in China is examined by using quarterly data of Chinese capital markets from 2006 to 2007. The results show that RNAV, dividends ,the liquidity of funds and the stock market returns are important factors to affect the redemption behavior, and behavioral finance theory is adopted to explain the results. Moreover, some proposal about liquidity risk management of funds are put forward in this paper.
出处
《金融理论与实践》
北大核心
2008年第8期30-33,共4页
Financial Theory and Practice
基金
国家自然科学基金(批准号:70672099)
厦门大学创新团队发展计划的资助
关键词
开放式基金
赎回
处置效应
羊群行为
open-ended fund
redemption
disposition effect
herd behavior
