影響我國開放式基金規(guī)模變動因素的實證研究.pdf

1、山西財經大學碩士學位論文影響我國開放式基金規(guī)模變動因素的實證研究姓名：高曦申請學位級別：碩士專業(yè)：數量經濟學指導教師：李景華2008-03-28VI Abstract As investors can buy or redeem the open- end fund shares freely, the fund scale is constantly changing. It can be destructive

2、to fund liquidity management and fund operation, especially when continual and substantive redemption happens, not only the fund operation will be affected severely, but the financial market will al

3、so be confronted with drastic fluctuations. Therefore, it is significant for us to study the influential factors on the change of the scale of open- end funds as well as the degree of such influence. Bas

4、ed on the theoretical and empirical studies both at home and abroad, this paper makes detailed theoretical analysis of all the factors that may affect the scale of open- end fund in China. The panel

5、 data of 46 pieces of partial- stock funds and 16 pieces of partial- bond funds (from the forth quarter of 2004 to the second quarter of 2007) are individually chosen to build two econometric

6、 models to reckon the effect and the influential extent of all factors. The main conclusions of this empirical study include: (1) relative performance of open- end funds has positive influence on