Publisher's Synopsis
Excerpt from Factors That Affect Mutual Fund Growth: Alfred P. Sloan School of Management
Simple correlations between net, new money inflows and any of a broad range of potential explanatory variables can be helpful in iso lating those factors that, in a statistical sense, appear most closely related to mutual fund growth. Care must be taken, however, to avoid confusing statistical association with causality. There is, clearly, no fool-proof guarantee that such confusion may be avoided. By simul taneously examining the relationship between a dependent variable (such as net new investment in mutual fund shares) and as broad a range as possible of potential explanatory variables (such as performance, sales effort and general economic growth), the danger of spurious association can, at least, be reduced. Accordingly, a least squares regression model that simultaneously measures partial relationships between depen dent and independent variables is employed in the present study.
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