我国债券基金申购赎回影响因素分析  

An Analysis of the Factors Affecting Funds Subscriptions and Redemptions

作　　者：孙长华[1] 桑柳玉[2] 

机构地区：[1]上海政法学院,中国上海201207 [2]海通证券研究所,中国上海200001

出　　处：《上海商学院学报》2014年第3期49-56,共8页Business Economic Review

基　　金："上海高校青年教师培养资助计划"资助(项目编号:ZZszf13003)

摘　　要：借鉴海内外已有研究成果,本文通过大量数据实证分析得出影响投资者申购赎回债券基金的主要因素。债券基金净申购与同期股市走势显著负相关;基金业绩正向影响基金净中购;投资者倾向于申购分红较多的基金;基金公司和基金本身实力越强则基金净赎回越少;不收赎回费的前端收费方式和平行收费方式债券基金更受投资者欢迎;投资者不愿意申购净值过高的基金;权益资产比例与债券基金净申购赎回显著负相关。This paper analyses the main factors that affect investors＇ subscription and redemption of bond funds. The conclusion is that for the same period the net subscriptions was negatively correlated with the stock market trends~ the performance of bond funds positively affects the net subscriptions; investors are usually in favor of the funds that pay more dividends; the larger the company is, the less the net redemption; investors prefer the front and parallel charging methods; investors are not in favor of funds with higher NAV; the ratio of equity-assets was significantly negatively correlated with the redemption.

关 键 词：债券基金 申购 赎回 基金份额变动 

分 类 号：F832.51[经济管理—金融学] F224