We examine how mutual fund flows that are correlated with subsequent fund returns can have
a dilution impact on the performance of open-end funds. Active trading of open-end funds …

An investigation of the empirical relationship between the Sharpe ratio and the investment
horizon for portfolios of small stocks, larger stocks, and bonds shows that the Sharpe ratio first …

We examine the diversification discount while controlling for differences in information
asymmetry between diversified and nondiversified firms. We show that both diversified and …

We examine how redemption policies affect daily fund flows in open-end mutual funds. Since
short-term trading of fund shares, as manifested in daily fund flows, can have an adverse …

Beta and Treynor ratios are computed for portfolios of small stocks, large stocks, and bonds
for holding periods of 1 to 30 years. For both the stock and bond portfolios, beta, and the …

We investigate the empirical relationship between the Sharpe ratio and the investment
horizon for portfolios of small stocks, large stocks, and corporate bonds. Sharpe ratios are …

We investigate how market competition and corporate governance affect a firm’s cost of equity
and debt. We find firms with better corporate governance have a lower cost of equity and …

The authors are grateful to Joan Gabel for helpful comments and suggestions and to Laurie
Jablow for editorial assistance. end fund industry, but also concern about several issues.'…

We use stochastic dominance to test whether investor should prefer riskier securities as the
investment horizon lengthens. Return distributions for stocks, bonds, and US Treasury bills …

… GR Cluskey Jr., (Email: bcluskey@westga.edu), University of West Georgia Charles W.
Hodges, (Email: chodges@westga.edu), University of West Georgia Sondra Smith, (Email …