Chapter 1. Previous literature documents that mutual funds' flows increase more than linearly with realized performance. I show this convex flow-performance relationship is consistent with a dynamic contracting model in which investors learn about the fund manager's skill. My mo…
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Unexpected increases in a mutual fund's risk level could cause significant financial loss to an investor relying on that fund's risk consistency. The purpose of this study was to determine if domestic, A-share, large capitalization value income, and domestic, A-share, large capi…