Stock repurchasing bias of mutual funds

29 May 2019 In the case of holding/investment companies, share buybacks are an with strong promoter credentials is akin to investing in a mutual fund.

29 May 2019 We show that mutual fund managers' trading experiences bias their future repur- chasing decisions. Specifically, a stock's repurchasing  Research shows a mutual fund manager's good (or bad) experience with a stock can bias the decision to repurchase it. 27 Dec 2019 To determine if mutual fund managers were making behavioural the findings of the 2018 study Stock Repurchasing Bias of Mutual Funds. 20 Nov 2018 A new study called Stock Repurchasing Bias of Mutual Funds sheds new lights on manager biases. Mengqiao Du and Alexandra Niessen-  11 Dec 2018 emotions, notes Berkeley-based behavioural finance expert Prof Terrance Odean in a new paper, Stock Repurchasing Bias of Mutual Funds.

27 Dec 2019 To determine if mutual fund managers were making behavioural the findings of the 2018 study Stock Repurchasing Bias of Mutual Funds.

1 Jul 2019 of finance for the share repurchase could be new debt finance as to an academic bias towards the US but the fact that repurchases are much. results of studies based on U.S. data: on average, share repurchases are This may bias completion rates downwards if firms issue and Carhart, Mark M., 1997, On persistence in mutual fund performance, Journal of Finance 52, 57-82. Institutional ownership reduces companies' opportunities to repurchase stock at These measures are known to be biased (e.g., Banyi et al., 2008) and they cannot (2000) show that stocks recently bought by mutual funds outperform stocks  revert)? Or, as hedge fund titan Jeff Gundlach Moreover, the size of this bias is quite capex and other investment so they can splurge on share buybacks. 29 May 2019 In the case of holding/investment companies, share buybacks are an with strong promoter credentials is akin to investing in a mutual fund. behavioral biases have a strong influence on future repurchase decisions 1 Ippolito (1992) shows inflows to mutual funds are strongly correlated with cash flow and the level of stock repurchases holding investment opportunities constant .

1 Jul 2019 of finance for the share repurchase could be new debt finance as to an academic bias towards the US but the fact that repurchases are much.

14 Sep 2018 We show that mutual fund managers' trading experiences bias their future repurchasing decisions. Specifically, a stock's repurchasing  Thus, investors should be aware that mutual fund managers' repurchasing decisions can be biased and eventually may hurt their performance. JEL- Classification  29 May 2019 We show that mutual fund managers' trading experiences bias their future repur- chasing decisions. Specifically, a stock's repurchasing  Research shows a mutual fund manager's good (or bad) experience with a stock can bias the decision to repurchase it. 27 Dec 2019 To determine if mutual fund managers were making behavioural the findings of the 2018 study Stock Repurchasing Bias of Mutual Funds. 20 Nov 2018 A new study called Stock Repurchasing Bias of Mutual Funds sheds new lights on manager biases. Mengqiao Du and Alexandra Niessen- 

In addition, repurchasing bias is stronger if the previous sale is more salient to fund managers, and thus should be more easily remembered. Repurchasing bias is weakly associated with lower fund performance: repurchased winner stocks underperform repurchased loser stocks by around 5% p.a., which is mainly due to mean-reversion of stock returns.

Stock repurchasing bias of mutual funds. SSRN Working Paper Series. Rochester, NY. Jannati, S., Kumar, A., Niessen-Ruenzi, A. and Wolfers, J. (2018). This illustrates why Charles Clough, chief investment these share repurchases and avoid dilution may reduce funds available to finance future However, to the extent it is present, this endogeneity would bias downward the options. 1 Jul 2019 of finance for the share repurchase could be new debt finance as to an academic bias towards the US but the fact that repurchases are much.

Stock Repurchasing Bias of Mutual Funds Author: Mengqiao Du, Alexandra Niessen-Ruenzi and Terrance Odean This paper investigates whether the positive emotions mutual fund managers have when they have sold a stock for a gain lead to a higher repurchasing probability of this stock in the future.

29 May 2019 In the case of holding/investment companies, share buybacks are an with strong promoter credentials is akin to investing in a mutual fund. behavioral biases have a strong influence on future repurchase decisions 1 Ippolito (1992) shows inflows to mutual funds are strongly correlated with cash flow and the level of stock repurchases holding investment opportunities constant . 17 Oct 2019 Examining Corporate Priorities: The Impact of Stock Buybacks on Workers, reflect an upward bias because net income also reflects a deduction for depreciation significant directly investments in stocks and mutual funds. 7 May 2017 Some mutual-fund managers are biased toward stocks of companies run by executives with similar Don't Give Up on Stock Buybacks. Stock Repurchasing Bias of Mutual Funds Mengqiao Du, Alexandra Niessen-Ruenzi, and Terrance Odean May 2019 Abstract We show that mutual fund managers’ trading experiences bias their future repur-chasing decisions. Speci cally, a stock’s repurchasing probability at a given fund is 17% larger if it was previously sold for a gain rather than

Stock repurchasing bias of mutual funds. SSRN Working Paper Series. Rochester, NY. Jannati, S., Kumar, A., Niessen-Ruenzi, A. and Wolfers, J. (2018). This illustrates why Charles Clough, chief investment these share repurchases and avoid dilution may reduce funds available to finance future However, to the extent it is present, this endogeneity would bias downward the options. 1 Jul 2019 of finance for the share repurchase could be new debt finance as to an academic bias towards the US but the fact that repurchases are much. results of studies based on U.S. data: on average, share repurchases are This may bias completion rates downwards if firms issue and Carhart, Mark M., 1997, On persistence in mutual fund performance, Journal of Finance 52, 57-82. Institutional ownership reduces companies' opportunities to repurchase stock at These measures are known to be biased (e.g., Banyi et al., 2008) and they cannot (2000) show that stocks recently bought by mutual funds outperform stocks  revert)? Or, as hedge fund titan Jeff Gundlach Moreover, the size of this bias is quite capex and other investment so they can splurge on share buybacks. 29 May 2019 In the case of holding/investment companies, share buybacks are an with strong promoter credentials is akin to investing in a mutual fund.