Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry
收藏NBER2009-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w15038
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资源简介：
We provide new empirical evidence suggesting that the marginal investor in mutual funds behaves differently across market conditions. If the marginal investor allocates capital across mutual funds rationally, then the relative performance of funds should be unpredictable. We find however that
提供机构：
美国国家经济研究局
创建时间：
2009-06-01
