所属栏目:资本市场/投资基金

FINTECH PLATFORMS AND MUTUAL FUND DISTRIBUTION
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发布日期:2022年06月06日 上次修订日期:2022年06月06日

摘要

We document a novel platform effect caused by the emergence of FinTech platforms in financial intermediation. In China, platform distributions of mutual funds emerged in 2012 and grew quickly into a formidable presence. Utilizing the staggered entrance of funds onto platforms, we find a marked increase of performance-chasing, driven by the centralized information flow unique to FinTech platforms. This pattern is further confirmed using proprietary data from a top platform. Examining the platform impact on fund managers, we find that, incentivized by the amplified performance-chasing, fund managers increase risk taking to enhance their probability of getting onto the top ranking.
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Claire Yurong Hong; Xiaomeng Lu; Jun Pan FINTECH PLATFORMS AND MUTUAL FUND DISTRIBUTION (2022年06月06日) https://www.cfrn.com.cn/lw/14925.html

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