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

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题名:	The Measurement of the Relationship between Taiwan's Bond Funds' Net Flow and the Investment Risk -Threshold Autoregressive Model
作者:	Lee, Wo-Chiang;Lee, Joe-Ming
贡献者:	淡江大學財務金融學系
关键词:	Bond fund;Threshold autoregressive model;Funds’ net flow
日期:	2013-12
上传时间:	2014-03-14 16:22:08 (UTC+8)
出版者:	Karachi: Asian Economic and Social Society
摘要:	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.
關聯:	Asian Economic and Financial Review 4(2), pp.137-149
显示于类别:	[財務金融學系暨研究所] 期刊論文

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