Add to ORKGWe use an experiment to estimate the effect of the SEC’s Summary Prospectus, which simplifies mutual fund disclosure. Our subjects chose an equity portfolio and a bond portfolio. Subjects received either statutory prospectuses or Summary Prospectuses. We find no evidence that the Summary Prospectus affects portfolio choices. Our experiment sheds new light on the scope of investor confusion about sales loads. Even with a one-month investment horizon, subjects do not avoid loads. Subjects are either confused about loads, overlook them, or believe their chosen portfolio has an annualized log return that is 24 percentage points higher than the load-minimizing portfolio.Economic
This paper investigates ESG risk disclosures by mutual funds when investors learn from their disclos...
While the SEC debates the overall merits of forming mutual fund company boards with an independent c...
One big focus of attention, criticism, and proposals for reform in the aftermath of the 2008 financi...
Abstract: We use an experiment to estimate the effect of the SEC’s Summary Prospectus, which simplif...
This paper investigates how the quality of financial disclosures impacts the portfolio choices of do...
Many experiments have found that participants take more investment risk if they see returns less fre...
Mutual funds have enjoyed phenomenal growth with their numbers exceeding the number of public compan...
Many previous experiments have found that, consistent with myopic loss aversion, subjects invest mor...
I study whether increased transparency of fund portfolio disclosures improves outcomes for mutual fu...
markdownabstract__Abstract__ Dyakov’s dissertation bundles three empirical studies on actively ma...
The functioning of financial markets is influenced by information and investor learning. In recent y...
In Essay I, I examine whether investment managers of equity mutual funds engage in “Window Dressing”...
A weekly database of retail money fund portfolio statistics is uneconomical for retail investors to ...
Using detailed data of individual investors, this dissertation investigates whether and how individu...
We document the benefits of mandatory portfolio disclosure in the hedge fund market. We study invest...
This paper investigates ESG risk disclosures by mutual funds when investors learn from their disclos...
While the SEC debates the overall merits of forming mutual fund company boards with an independent c...
One big focus of attention, criticism, and proposals for reform in the aftermath of the 2008 financi...
Abstract: We use an experiment to estimate the effect of the SEC’s Summary Prospectus, which simplif...
This paper investigates how the quality of financial disclosures impacts the portfolio choices of do...
Many experiments have found that participants take more investment risk if they see returns less fre...
Mutual funds have enjoyed phenomenal growth with their numbers exceeding the number of public compan...
Many previous experiments have found that, consistent with myopic loss aversion, subjects invest mor...
I study whether increased transparency of fund portfolio disclosures improves outcomes for mutual fu...
markdownabstract__Abstract__ Dyakov’s dissertation bundles three empirical studies on actively ma...
The functioning of financial markets is influenced by information and investor learning. In recent y...
In Essay I, I examine whether investment managers of equity mutual funds engage in “Window Dressing”...
A weekly database of retail money fund portfolio statistics is uneconomical for retail investors to ...
Using detailed data of individual investors, this dissertation investigates whether and how individu...
We document the benefits of mandatory portfolio disclosure in the hedge fund market. We study invest...
This paper investigates ESG risk disclosures by mutual funds when investors learn from their disclos...
While the SEC debates the overall merits of forming mutual fund company boards with an independent c...
One big focus of attention, criticism, and proposals for reform in the aftermath of the 2008 financi...