Adjusting to the Information Environment: News Tangibility and Mutual Fund Performance
Published Online:22 Sep 2017https://doi.org/10.1287/mnsc.2017.2835
References
- (1988) A theory of intraday patterns: Volume and price variability. Rev. Financial Stud. 1(1):3–40.Crossref, Google Scholar
- (2002) Illiquidity and stock returns: Cross-section and time-series effects. J. Financial Markets 5(1):31–56.Crossref, Google Scholar
- (2008) All that glitters: The effect of attention and news on the buying behavior of individual and institutional investors. Rev. Financial Stud. 21(2):785–818.Crossref, Google Scholar
- (1974) Magnitude estimation of expressions of frequency and amount. J. Appl. Psych. 59(3):313–320.Crossref, Google Scholar
- (1982) How probable is probable? A numerical translation of verbal probability expressions. J. Forecasting 1(3):257–269.Crossref, Google Scholar
- (1997) Mutual fund styles. J. Financial Econom. 43(3):373–399.Crossref, Google Scholar
- (1997) On persistence in mutual fund performance. J. Finance 52(1):57–82.Crossref, Google Scholar
- (2000) The value of active mutual fund management: An examination of the stockholdings and trades of fund managers. J. Financial Quant. Anal. 35(3):343–368.Crossref, Google Scholar
- (2008) The small world of investing: Board connections and mutual fund returns. J. Political Econom. 116(5):951–979.Crossref, Google Scholar
- (2016) Lazy prices. Working paper, Harvard University, Cambridge, MA.Google Scholar
- (2009) How active is your fund manager? A new measure that predicts performance. Rev. Financial Stud. 22(9):3329–3365.Crossref, Google Scholar
- (2014) Mutual fund performance and the incentive to generate alpha J. Finance 69(4):1673–1704.Crossref, Google Scholar
- (2007) Scale effects in mutual fund performance: The role of trading costs. Working paper, University of California, Davis, Davis.Google Scholar
- (1996) The persistence of risk-adjusted mutual fund performance. J. Bus. 69(2):133–157.Crossref, Google Scholar
- (1993) Efficiency with costly information: A reinterpretation of evidence from managed portfolios. Rev. Financial Stud. 6(1):1–22.Crossref, Google Scholar
- (2011) The causal impact of media in financial markets. J. Finance 66(1):67–97.Crossref, Google Scholar
- (2012) How are shorts informed? Short sellers, news, and information processing. J. Financial Econom. 105(2):260–278.Crossref, Google Scholar
- (1993) Common risk factors in the returns on stocks and bonds. J. Financial Econom. 33(1):3–56.Crossref, Google Scholar
- (1973) Risk, return, and equilibrium: Empirical tests. J. Political Econom. 81(3):607–636.Crossref, Google Scholar
- (2009) Media coverage and the cross-section of stock returns. J. Finance 64(5):2023–2052.Crossref, Google Scholar
- (2014) Does media coverage of stocks affect mutual funds’ trading and performance? Rev. Financial Stud. 27(12):3441–3466.Crossref, Google Scholar
- (2007) Fund manager use of public information: New evidence on managerial skills. J. Finance 62(2):485–528.Crossref, Google Scholar
- (2008) Unobserved actions of equity mutual funds. Rev. Financial Stud. 21(6):2379–2416.Crossref, Google Scholar
- (2014) Time-varying fund manager skill. J. Finance 69(4):1455–1484.Crossref, Google Scholar
- (2004) You say “probable” and I say “likely”: Improving interpersonal communication with verbal probability phrases. J. Experiment. Psych. 10(1):25–41.Google Scholar
- (1994) Market liquidity and volume around earnings announcements. J. Accounting Econom. 17(1–2):41–67.Crossref, Google Scholar
- (1985) Continuous auctions and insider trading. Econometrica 53(6):1315–1336.Crossref, Google Scholar
- (2014) Mutual funds and information diffusion: The role of country-level governance. Rev. Financial Stud. 27(11):3343–3387.Crossref, Google Scholar
- (2017) Do funds make more when they trade more? J. Finance 72(4):1483–1528.Crossref, Google Scholar
- (2017) To group or not to group? Evidence from mutual fund databases. J. Financial Quant. Anal. 52(5):1989–2021.Crossref, Google Scholar
- (2002) Information production and capital allocation: Decentralized versus hierarchical firms. J. Finance 57(5):1891–1921.Crossref, Google Scholar
- (2007) Giving content to investor sentiment: The role of media in the stock market. J. Finance 62(3):1139–1168.Crossref, Google Scholar
- (2010) Does public financial news resolve asymmetric information? Rev. Financial Stud. 23(9):3520–3557.Crossref, Google Scholar
- (2000) Mutual fund performance: An empirical decomposition into stock-picking talent, style, transactions costs, and expenses. J. Finance 55(4):1655–1695.Crossref, Google Scholar

