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Litigation and mutual-fund runs

Qian, Meijun; Basak, Tanyeri


We investigate whether anticipation of adverse events (litigation about market timing and late trading) may trigger mutual-fund runs. We find that runs start as early as three months prior to litigation announcements. Pre-litigation runs accumulate to 31 basis points of the total net assets over a three-month window; post-litigation runs may last more than six months and accumulate to 1.25 percent over the first three-month window. Additionally, investors who run before litigation announcements...[Show more]

CollectionsANU Research Publications
Date published: 2017
Type: Journal article
Source: Journal of Financial Stability
DOI: 10.1016/j.jfs.2017.05.011


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