Advances in Economics and Business Vol. 3(12), pp. 560 - 570
DOI: 10.13189/aeb.2015.031204
Reprint (PDF) (275Kb)

Fund Company's Equity Structure Effects on Fund Performance

Shu Ke Dong ^*, Yin Xiao Xue , Dai MingXi , Zhang Bin
Faculty of Economics, Hefei University of Technology, China

ABSTRACT

It is well known that the equity structure of listed companies have effects on the company performances to some extent. However, the fund company is one special kind of financial enterprise and the relationship between its unique equity structure and fund performance still remains in suspense. On the basis of theoretical conjectures and results of predecessors, the development history of equity structure of Chinese fund company is analyzed and the fund evaluation methods are discussed in this paper which is based on the risk adjustment of excess return. Through sieving and accounting data, we conducted an empirical study about the effects of equity structure and regional feature on fund performance. The conclusions can be drew as that the fund company with foreign capital shows no signs of highlights and we found that concentrated shareholding and national resources are beneficial to improving fund performance level. In addition, the operating time and the fund company's location, investment fund's average tenure also have influences on fund performance.

KEYWORDS
Equity Structure, Regional Feature, Fund Performance, Regional Feature

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Shu Ke Dong , Yin Xiao Xue , Dai MingXi , Zhang Bin , "Fund Company's Equity Structure Effects on Fund Performance," Advances in Economics and Business, Vol. 3, No. 12, pp. 560 - 570, 2015. DOI: 10.13189/aeb.2015.031204.

(b). APA Format:
Shu Ke Dong , Yin Xiao Xue , Dai MingXi , Zhang Bin (2015). Fund Company's Equity Structure Effects on Fund Performance. Advances in Economics and Business, 3(12), 560 - 570. DOI: 10.13189/aeb.2015.031204.