Advertising and Portfolio Choice *

@inproceedings{Cronqvist2006AdvertisingAP,
  title={Advertising and Portfolio Choice *},
  author={Henrik Cronqvist},
  year={2006}
}
  • Henrik Cronqvist
  • Published 2006
This paper examines the role that advertising plays in the mutual fund industry and whether advertising affects investors’ fund and portfolio choices. Content analysis shows that only a small fraction of fund advertising is directly informative about characteristics relevant for rational investors, such as fund fees. Higher quantities of advertising do not signal ex ante higher unobservable fund manager ability, because funds that advertise more are not associated with higher post-advertising… CONTINUE READING
Highly Cited
This paper has 22 citations. REVIEW CITATIONS
18 Citations
25 References
Similar Papers

References

Publications referenced by this paper.
Showing 1-10 of 25 references

Mutual Fund Flows and Performance in Rational Markets

  • Berk, B Jonathan, Richard C. Green
  • Journal of Political Economy
  • 2004

Familiarity breeds investment, Review of Financial Studies

  • Jain, C Prem, Johanna Shuang Wu
  • 2001

The power of suggestion: Inertia

  • Madrian, C Brigitte, Dennis F. Shea
  • 2001

Similar Papers

Loading similar papers…