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

Abstract

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

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