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  An empirical analysis of the luxembourg mutual fund market placeIrek, Fabian  Doctoral thesis (2015) Detailed reference viewed: 164 (20 UL) The Lure of the Brand: Evidence from the European Mutual Fund IndustryIrek, Fabian ; ; in European Financial Management (2014) Detailed reference viewed: 92 (7 UL)The Lure of the Brand: Evidence from the European Mutual Fund IndustryIrek, Fabian ; ; et alin European Financial Management (2013) We investigate the effect of the fund provider s brand on mutual fund flows by using a unique data set that represents a direct assessment of the brand image of European fund providers. A superior brand ... [more ▼] We investigate the effect of the fund provider s brand on mutual fund flows by using a unique data set that represents a direct assessment of the brand image of European fund providers. A superior brand image increases the sensitivity of fl ows to past performance, while an inferior brand decreases it. Funds with a superior brand are not protected against out flows when there is underperformance. A superior brand, coupled with high past performance, generates persistent infl ows and performance persistence so investors will benefi t when a superior brand fund with high past performance is chosen. [less ▲] Detailed reference viewed: 135 (10 UL)Do Fund Investors Know that Risk is Sometimes not Priced?Irek, Fabian ; Lehnert, Thorsten E-print/Working paper (2013) Previous research suggests that investor sentiment has an influence on the market's risk-return trade-off. Noise tradersídemand for assets is considered to be risk independent and, as a result, risky ... [more ▼] Previous research suggests that investor sentiment has an influence on the market's risk-return trade-off. Noise tradersídemand for assets is considered to be risk independent and, as a result, risky assets do not offer a risk premium when demand is high. We show that market risk is only a priced factor of expected fund returns when investor sentiment is low. Furthermore, fund investors seem aware that risk is sometimes not priced. During high sentiment periods, "smart" investors buy safe funds that subsequently outperform and sell risky funds that subsequently underperform. Our results are statistically and economically significant. [less ▲] Detailed reference viewed: 123 (5 UL)Es gibt Hoffnung für Aktives Asset ManagementVan Bommel, Jos ; Irek, Fabian Diverse speeches and writings (2012) Detailed reference viewed: 67 (6 UL)Noise Trading and the Cross-Section of Index Option PricesIrek, Fabian ; ; Lehnert, Thorsten et alE-print/Working paper (2012) Detailed reference viewed: 42 (1 UL) |
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