<div class="csl-bib-body">
<div class="csl-entry">Hörmanseder, S. (2013). <i>The flow-performance relationship in Germany : an analytical and empirical investigation</i> [Diploma Thesis, Technische Universität Wien]. reposiTUm. http://hdl.handle.net/20.500.12708/160697</div>
</div>
-
dc.identifier.uri
http://hdl.handle.net/20.500.12708/160697
-
dc.description.abstract
The present thesis investigates the flow-performance relationship in two ways, analytically and empirically. It discusses the theoretical models underlying the relationship in the context of learning in financial markets. For the empirical analysis a dataset of the German mutual fund industry between 2006 and 2011 is analyzed. The results confirm the existence of the flow-performance relationship; furthermore I provide evidence that this relationship is convex. I also find that top and low performers of peer groups get more attention by investors expressed by more inflows for the former and outflows for the latter.
