| Summary: | 碩士 === 實踐大學 === 企業管理研究所 === 95 === With the change of society structure, improvement of living standard and educated level in Taiwan, most people don’t just manage their money by deposits, however, they gradually take mutual fund as one of the important tools of investment. Besides, most investors refer to past ROI (Return On Investment) of funds, and sometimes got influenced by the fund ads on newspapers and changed their investment strategy. Therefore, this study uses the published photo ads of fund on Commercial Times and Business Times from Jane 1st 2000 to June 30th 2006, take the day of ads as the bench-mark, and compared the ROI of mutual funds before and after ads.
Conclusion as below
一、Take mutual fund ads on newspapers for example, entirely speaking, the ROI of mutual funds were significate lower than that before ads.
二、Take mutual fund ads on newspapers for example, entirely
speaking, the timing of publish ads of mutual funds should be moderately selected.
三、Take mutual fund ads on newspapers for example, entirely speaking, the fluctuation of ROI of mutual funds is lower than the fluctuation of weighted stock price index.
Key Words: Mutual funds, Ads of fund, performance persistency
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