| Summary: | 碩士 === 台南科技大學 === 商學與管理研究所 === 98 === This paper examines the effects of fund size, turnover rate, and manager’s tenure on domestic open-ended equity fund performance using Treynor, Sharpe, and Jensen indicators. Besides employing the order least squares regression model (OLS), the paper further uses variable recursive least squares regression analysis (recursive OLS in variable) to detect whether there is a structural change. Finally, the threshold model in variable is utilized to explore whether the impacts of fund size, turnover rate, and manager’s tenure on domestic open-ended equity fund performance are different between the above and below threshold value of fund size, turnover rate, and manager’s tenure. The empirical results are as follows: 1. When fund size is below 1 billion, the relationship between fund size and of fund performance is significantly positively correlated. However, the relationship is not significant when fund size is above 1 billion. 2. When fund turnover rate is more than 20.76%, the relationship between fund size and of fund performance is significantly negatively correlated. However, the relationship is not significant when fund turnover rate is less than 20.76%. 3. The relationship between manager tenure and of fund performance is not significant.
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