Mutual fund family ownership and stock return: evidence from chinese stock open-end funds

DOI

10.2991/febm-17.2017.131How to use a DOI?

Keywords

stock open-end funds; fund family common shares; stock return

Abstract

In this paper, with the sample data of each semi-annual stock open-end funds from 2008 to 2015 in China, we use multiple linear regression method to study the impact on the stock returns held by mutual fund family common shares. The empirical results show that the deeper fund family common shareholding ratio is, the lower the return on stock is. The lager family common shares width is, the lower stock returns are. The explanation given in this paper is that large depth and width of funds common shareholding means high degree of aggregation of fund family holdings, the private information will be less, meaning high market transparency, stock uncertain information then will be less, compensation for stock returns certainly shrinks, stock returns are then lower.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Linglin Zhu
AU  - Yucan Liu
PY  - 2017/10
DA  - 2017/10
TI  - Mutual fund family ownership and stock return: evidence from chinese stock open-end funds
BT  - Proceedings of the Second International Conference On Economic and Business Management (FEBM 2017)
PB  - Atlantis Press
SP  - 975
EP  - 981
SN  - 2352-5428
UR  - https://doi.org/10.2991/febm-17.2017.131
DO  - 10.2991/febm-17.2017.131
ID  - Zhu2017/10
ER  -