Scale and Skill in Mutual Fund Management: Evidence from Norway

SEISENSE Journal of Management

View Publication Info
 
 
Field Value
 
Title Scale and Skill in Mutual Fund Management: Evidence from Norway
 
Creator Høiberg, Markus Snøve
 
Subject Mutual fund performance
mutual fund scale
managerial skill
economies of scale
 
Description Using a sample free of survivorship bias and several risk-adjusted performance benchmarks to identify effects of scale on mutual fund performance in the Norwegian market, I find mixed evidence that both large and small funds underperform as against the middle-sized funds in the period 2005-2018. Controlling for relevant factors in panel data regressions, I find that, on average, performance worsens with an increase in size while giving support to initial findings of nonlinearity. The relationship is most robust after 2013 and seems to be affected by competition in the market as well as fund inflows. I do not find any empirical evidence to support the liquidity hypothesis.
 
Publisher SEISENSE (PRIVATE) LIMITED
 
Date 2020-06-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer Reviewed Article
 
Format application/pdf
 
Identifier http://journal.seisense.com/index.php/jom/article/view/351
10.33215/sjom.v3i4.351
 
Source SEISENSE Journal of Management; Vol. 3 No. 4 (2020): SEISENSE Journal of Management; 1-20
2617-5770
 
Language eng
 
Relation http://journal.seisense.com/index.php/jom/article/view/351/116
 
Rights Copyright (c) 2020 Markus Snøve Høiberg
https://creativecommons.org/licenses/by/4.0
 

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