Indian mutual fund industry: Opportunities and challenges

Kale, Jayant R.; Panchapagesan, Venkatesh

doi:10.1016/j.iimb.2012.05.004

Cited by 10 publications

(7 citation statements)

References 68 publications

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“…Although the effect of the perceived barrier is less explored in the context of mutual funds, its negative relationship aligns with studies in the stock market (Gutsche & Zwergel, 2020;Kale & Panchapagesan, 2012;Klapper et al, 2004;Lobão & Pereira, 2017;Sias, 1997). Contrary to the evidence, H6 (β = 0.026; p-value = .499)…”

Section: Discussionsupporting

confidence: 65%

Predicting the antecedents of consumers' intention toward purchase of mutual funds: A hybrid PLS‐SEM‐neural network approach

Mishra

Bansal

Maurya

et al. 2022

Int J Consumer Studies

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The current study intends to identify the behavioural antecedents of investors' attitude and investment intention toward mutual funds using a robust SEM‐ANN approach. It focuses on novel factors in the purview of the COVID‐19 pandemic, increasing digitalization and social media usage. The research outcome indicates that attitude (ATB), awareness (AW) and investment decision involvement (IDI) have a significant positive relation with investment intention (BI). In contrast, perceived barrier (PBR) negatively relates to investment intention. Herd behaviour (HB) and social media influence (SMI) do not influence investment intention toward mutual funds. Moreover, all the tested predictors share direct relation with the attitude toward mutual fund investment, barring perceived risk (PR), which has an inverse relationship. As per the outcome of ANN sensitivity analysis, attitude is the most crucial determinant of investment intention. It is followed by awareness (AW), perceived barriers (PBR) and investment decision involvement (IDI). Among the significant determinants of attitude, self‐efficacy (SE) is the most important determinant, followed by perceived usefulness (PU), perceived emergency (PEMER), subjective norms (SN) and perceived risk (PR).

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Section: Discussionsupporting

confidence: 65%

Predicting the antecedents of consumers' intention toward purchase of mutual funds: A hybrid PLS‐SEM‐neural network approach

Mishra

Bansal

Maurya

et al. 2022

Int J Consumer Studies

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“…The publications of the top authors include a mix of empirical and conceptual papers. Some of the unique formats of IMR publications, such as round tables and panel discussions (Chatterjee and Srinivasan, 2013; Kale and Panchapagesan, 2012; Srinivasan, 2012) are also included among the publications of the top-authors. In sum, the top-authorship is dominated by OB/HRM, followed by Finance, with conceptual, empirical and unique formats well-distributed among the publications.…”

Section: Resultsmentioning

confidence: 99%

Applying systematic bibliometric methods to track a journal’s impact and review its knowledge contribution

Anand

Tripathi

Karumathil

et al. 2021

GKMC

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Purpose Advanced bibliometric methods have emerged as key tools in mapping the history and trends of a discipline. This paper aims to demonstrate on applying various bibliometric methods to track a journal’s impact and review its knowledge contribution. In doing so, the authors take the case of IIMB Management Review (IMR) journal focused on management discipline, in consideration of its 10 years of publication presence. Design/methodology/approach Using bibliometric and Scopus metric methods, the authors map and analyze the productivity of IMR Journal and map its knowledge contributions. Findings The authors identify the IMR journal’s impact, its growth, the most prolific authors/affiliations, key research hotspots, cross-country collaboration and emerging trends over the past decade. Originality/value A 10-year longitudinal review helps the target group identify the main themes. It also provides key empirical insights to the journal editorial board and library managers for future planning and growth of the journal.

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“…India has over 5,000 listed stocks; however, the Mutual fund manager turnover investible equity universe is limited [5]. In the emerging markets, fund managers have restricted investment choices since the universe of liquid investible securities is limited (Kale and Panchapagesan, 2012). With a limited market for equity investment, most of the fund managers end up with overlapping set of stocks in their portfolio.…”

Section: Regression Analysismentioning

confidence: 99%

“…As a result, the theories and findings in the developed market settings are likely to differ in the emerging market context (Khanna, 2014). In the emerging markets, fund managers have restricted investment choices since the universe of liquid investible securities is limited (Kale and Panchapagesan, 2012). Thus, most fund managers have similar portfolio choices.…”

Section: Introductionmentioning

confidence: 99%

Mutual fund manager turnover: an empirical investigation of performance

Ghalke

Kulkarni

2021

IJMF

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PurposeWhen a fund manager leaves, the investment strategy of the fund changes or remains the same. The departing fund manager's resignation is either forced or voluntary. The study investigates the relationship between the portfolio manager's transition and the fund's investment strategy and how the change affects the mutual fund returns in the subsequent period.Design/methodology/approachThe authors examine 148 fund manager changes in India between April 2005–March 2018 using three performance measures: abnormal return (fund return minus benchmark return), Jensen's alpha and Carhart four-factor alpha. The analysis includes an event study methodology, followed by a two-step Fama–MacBeth regression approach.FindingsContrary to the previous studies conducted in the developed markets, the authors find that fund performance improves irrespective of whether the fund manager change is forced or voluntary. The outperformance after the fund manager's exit is significant for funds belonging to the larger fund families.Originality/valueIn the context of investment management, the authors provide a conceptual framework to understand the effect of fund manager exit on mutual fund performance. The authors substantiate their arguments with empirical evidence. To the best of the authors' understanding, this is the first research to examine the effect of changing mutual fund managers in an emerging market setting.

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Indian mutual fund industry: Opportunities and challenges

Cited by 10 publications

References 68 publications

Predicting the antecedents of consumers' intention toward purchase of mutual funds: A hybrid PLS‐SEM‐neural network approach

Predicting the antecedents of consumers' intention toward purchase of mutual funds: A hybrid PLS‐SEM‐neural network approach

Applying systematic bibliometric methods to track a journal’s impact and review its knowledge contribution

Mutual fund manager turnover: an empirical investigation of performance

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