Determinants of Fund Investment Flows: Asymmetry between Fund Inflows and Fund Outflows

We investigate determinants of fund investment flows using Korean equity investment funds. Unlike previous studies which analyzed net-flows (inflow minus outflow), we analyze fund investment inflows and outflows separately that should properly reflect invⅠ. 서 론 Ⅱ. 연구자료 및 방법론 1. 연구자료 2. 방법론 Ⅲ. 분석 결과 1. 기초통계량 2. 추정 결과 가. 순유입자금(Net Flow)의 추정 나. 유입자금(Inflow)의 추정 다. 유출자금(Outflow)의 추정 3. 강건성 검증 Ⅳ. 결

Why Do Economists Argue 'for' of 'against' Government's Roles in a Monetary System?

This paper examines works of F. Hayek and M. Friedman on monetary and financial policies. This paper highlights their differences, and asks what yielded them. It also shows there exists a gap between young Hayek and old Hayek, which cannot be explained inⅠ. 서론 　Ⅱ. 연구의 배경, 가설과 방법 　　1. 연구의 배경 　　2. 연구의 가설 　　3. 연구의 방법 　Ⅲ. Hayek와 Friedman의 화폐금융제도론 비교분석 　　1. Hayek와 Friedman의 화폐금융제도론 　　　가. Hayerk의 제도론 　　　　전기 Haye

Performance Evaluation of Equity Funds in Korea

We examine performance of actively managed equity funds in Korea for the period from 2002 to 2008 and investigate if fund managers have market timing abilities. We obtain the following findings: (1) average performance of funds evaluated at net return basⅠ. 서 론 　Ⅱ. 자료 및 방법론 　Ⅲ. 분석 결과 　Ⅳ. 강건성 검증 　Ⅴ. 결 론 　참고문헌 　Appendi