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

淡江大學機構典藏 > 商管學院 > 財務金融學系暨研究所 > 期刊論文 > Item 987654321/96996

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題名:	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
貢獻者:	淡江大學財務金融學系
關鍵詞:	Bond fund;Threshold autoregressive model;Funds’ net flow
日期:	2013-12
上傳時間:	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
顯示於類別:	[財務金融學系暨研究所] 期刊論文

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