The Measurement of the Relationship between Taiwan's Bond Funds' Net Flow and the Investment Risk -Threshold Autoregressive Model

機構典藏 > College of Business and Management > Graduate Institute & Department of Banking and Finance > Journal Article > Item 987654321/96996

Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/96996

Title:	The Measurement of the Relationship between Taiwan's Bond Funds' Net Flow and the Investment Risk -Threshold Autoregressive Model
Authors:	Lee, Wo-Chiang;Lee, Joe-Ming
Contributors:	淡江大學財務金融學系
Keywords:	Bond fund;Threshold autoregressive model;Funds’ net flow
Date:	2013-12
Issue Date:	2014-03-14 16:22:08 (UTC+8)
Publisher:	Karachi: Asian Economic and Social Society
Abstract:	This article applies the threshold autoregressive model to investigate the relationship between bond funds' net flow and investment risk in Taiwan. Our empirical findings show that bond funds' investors are concerned about the investment return and neglect the investment risk. In particular, when expanding the size of the bond funds, fund investors believe that the fund cannot lose any money on investment products. In order to satisfy investors, bond fund managers only target short-term returns so as to attract investors, while ignoring the risk. Thus, this paper reminds investors to pay attention to risk, and fund managers should look to fulfill their obligations in addition to the pursuit of profit. Finally, bond funds should have risk management professionals help run the funds.
Relation:	Asian Economic and Financial Review 4(2), pp.137-149
Appears in Collections:	[Graduate Institute & Department of Banking and Finance] Journal Article

Files in This Item:

File	Size	Format
index.html	0Kb	HTML	301	View/Open
index.html	0Kb	HTML	156	View/Open
The Measurement of the Relationship between Taiwan's Bond Funds' Net Flow and the Investment Risk -Threshold Autoregressive Model.pdf	538Kb	Adobe PDF	1	View/Open