金融理论与实践
金融理論與實踐
금융이론여실천
FINANCIAL THEORY AND PRACTICE
2013年
9期
72-75
,共4页
股票型基金%绝对业绩%相对业绩%影响因素
股票型基金%絕對業績%相對業績%影響因素
고표형기금%절대업적%상대업적%영향인소
stock-type fund%absolute performance%relative performance%influencing factors
使用面板数据分析方法对我国开放式股票型基金的业绩影响因素进行实证研究，研究表明，基金的绝对业绩和相对业绩的影响因素比较相似。基金业绩与其股票交易量、资金利用效率、份额增长率、管理费率及股市整体走势呈正相关关系，与机构投资者比例呈负相关关系，与基金规模呈倒U型关系，与基金风险无显著关系。
使用麵闆數據分析方法對我國開放式股票型基金的業績影響因素進行實證研究，研究錶明，基金的絕對業績和相對業績的影響因素比較相似。基金業績與其股票交易量、資金利用效率、份額增長率、管理費率及股市整體走勢呈正相關關繫，與機構投資者比例呈負相關關繫，與基金規模呈倒U型關繫，與基金風險無顯著關繫。
사용면판수거분석방법대아국개방식고표형기금적업적영향인소진행실증연구，연구표명，기금적절대업적화상대업적적영향인소비교상사。기금업적여기고표교역량、자금이용효솔、빈액증장솔、관리비솔급고시정체주세정정상관관계，여궤구투자자비례정부상관관계，여기금규모정도U형관계，여기금풍험무현저관계。
This paper presents the result of the authors’empirical study, conducted by means of panel data analysis, of the influencing factors of the performance of China’s open-end stock funds. The au-thors, through the study, find that the influencing factors of absolute performance are similar to those of relative performance. The paper points out that there is positive correlation between fund performance and the stock exchange volume, efficiency of fund utilization, share growth rate, management fee rate, and the whole trend of the stock market, that there is negative correlation between fund performance and institutional investor proportion, that there is a reversed U relationship between fund performance and fund scale, and that there is no remarkable relation between fund performance and fund risk.
