Essec\Faculty\Model\Contribution {#2216
#_index: "academ_contributions"
#_id: "11149"
#_source: array:26 [
"id" => "11149"
"slug" => "uncertainty-avoidance-and-mutual-funds"
"yearMonth" => "2020-12"
"year" => "2020"
"title" => "Uncertainty avoidance and mutual funds"
"description" => "KESWANI, A., MEDHAT, M., MIGUEL, A.F. et RAMOS, S. (2020). Uncertainty avoidance and mutual funds. <i>Journal of Corporate Finance</i>, 65(101748)."
"authors" => array:4 [
0 => array:3 [
"name" => "RAMOS Sofia"
"bid" => "B00683001"
"slug" => "ramos-sofia"
]
1 => array:1 [
"name" => "KESWANI Aneel"
]
2 => array:1 [
"name" => "MEDHAT Mamdouh"
]
3 => array:1 [
"name" => "MIGUEL Antonio F."
]
]
"ouvrage" => ""
"keywords" => array:6 [
0 => "Mutual funds"
1 => "Culture"
2 => "Uncertainty avoidance"
3 => "Fund flows"
4 => "Ambiguity"
5 => "Knightian uncertainty"
]
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => "https://doi.org/10.1016/j.jcorpfin.2020.101748"
"publicationInfo" => array:3 [
"pages" => null
"volume" => "65"
"number" => "101748"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We study how culture influences mutual funds around the world. Uncertainty Avoidance (UA), which is related to ambiguity aversion, is negatively associated with flow-performance sensitivity, deviation from the fund benchmark, fund alpha, and the fraction of active management across the 25 countries in our sample. This is true even when controlling for an exhaustive set of fund- and country-level characteristics. We also find that a fund's deviation from its benchmark is not only affected by the UA of its domicile country but also by the UA of its fund family's country of origin. Our results highlight the importance of considering cultural characteristics, and UA in particular, when studying mutual funds across countries."
"en" => "We study how culture influences mutual funds around the world. Uncertainty Avoidance (UA), which is related to ambiguity aversion, is negatively associated with flow-performance sensitivity, deviation from the fund benchmark, fund alpha, and the fraction of active management across the 25 countries in our sample. This is true even when controlling for an exhaustive set of fund- and country-level characteristics. We also find that a fund's deviation from its benchmark is not only affected by the UA of its domicile country but also by the UA of its fund family's country of origin. Our results highlight the importance of considering cultural characteristics, and UA in particular, when studying mutual funds across countries."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T18:21:44.000Z"
"docTitle" => "Uncertainty avoidance and mutual funds"
"docSurtitle" => "Journal articles"
"authorNames" => "<a href="/cv/ramos-sofia">RAMOS Sofia</a>, KESWANI Aneel, MEDHAT Mamdouh, MIGUEL Antonio F."
"docDescription" => "<span class="document-property-authors">RAMOS Sofia, KESWANI Aneel, MEDHAT Mamdouh, MIGUEL Antonio F.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2020</span>"
"keywordList" => "<a href="#">Mutual funds</a>, <a href="#">Culture</a>, <a href="#">Uncertainty avoidance</a>, <a href="#">Fund flows</a>, <a href="#">Ambiguity</a>, <a href="#">Knightian uncertainty</a>"
"docPreview" => "<b>Uncertainty avoidance and mutual funds</b><br><span>2020-12 | Journal articles </span>"
"docType" => "research"
"publicationLink" => "<a href="https://doi.org/10.1016/j.jcorpfin.2020.101748" target="_blank">Uncertainty avoidance and mutual funds</a>"
]
+lang: "en"
+"_type": "_doc"
+"_score": 8.630022
+"parent": null
}
