Sorhage, Christoph (2016). Essays on the Interaction of Investor Clienteles and Mutual Fund Behavior. PhD thesis, Universität zu Köln.


Download (1MB)


This thesis consists of three essays on the interaction of investor clienteles and mutual fund behavior. The first essay (Cici, Kempf, and Sorhage 2015, “Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flows”) adds to the literature on fund investor clienteles by addressing the question for potential benefits accruing to investors who rely on financial advisors when acquiring shares in a fund. The second essay (Sorhage, 2015, “Outsourcing of Mutual Funds' Non-core Competencies”) investigates the relation between mutual fund behavior and fund families' decisions to source fund activities unrelated to portfolio management internally or from external providers. The third essay (Dahm and Sorhage, 2015, “Milk or Wine: Mutual Funds' (Dis)economies of Life“) adds to the literature on time-varying fund behavior and is related to the previous two essays by examining whether funds' investment skills change to the positive or negative over time and how this is interrelated to investor groups.

Item Type: Thesis (PhD thesis)
CreatorsEmailORCIDORCID Put Code
Sorhage, Christophsorhage@wiso.uni-koeln.deUNSPECIFIEDUNSPECIFIED
URN: urn:nbn:de:hbz:38-65755
Date: 1 February 2016
Language: English
Faculty: Faculty of Management, Economy and Social Sciences
Divisions: Faculty of Management, Economics and Social Sciences > Business Administration > Finance > Professorship for Business Administration and Finance
Subjects: Management and auxiliary services
Uncontrolled Keywords:
Mutual funds; Fund performance; Fund behavior; Financial advisors; Taxable fund distributions; Shareholder services; Outsourcing; Fund age; Liability of aging; InnovationEnglish
Date of oral exam: 21 January 2016
NameAcademic Title
Kempf, AlexanderUniv.-Prof. Dr.
Hess, DieterUniv.-Prof. Dr.
Hartmann-Wendels, ThomasUniv.-Prof. Dr.
Refereed: Yes


Downloads per month over past year


Actions (login required)

View Item View Item