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Financial Literacy and Mutual Fund Investments: Who Buys Actively Managed Funds?

https://doi.org/10.1007/bf03396802
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28/28 checkable references clean · checked 2026-09-03

Every reference with a DOI in the deposited reference list resolved to a known work in Crossref or DataCite at the dated check, and none carried a retraction, withdrawal, or removal notice.

17 without a DOI — not checked. A reference deposited without a DOI is never matched by title or guessed at; it stays outside the checked set, and this line discloses that.

The 28 checked references that resolve
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Mutual fund shareholders
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Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows*
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Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry
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An individual level analysis of the mutual fund investment decision
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On Persistence in Mutual Fund Performance
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Judging Fund Managers by the Company They Keep
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How Active Is Your Fund Manager? A New Measure That Predicts Performance
resolves10.1016/S0014-2921(98)00009-9
A portrait of the individual investor
resolves10.1287/mnsc.1040.0473
Up Close and Personal: Investor Sophistication and the Disposition Effect
resolves10.1093/rfs/6.1.1
Efficiency with Costly Information: A Reinterpretation of Evidence from Managed Portfolios
resolves10.1007/s10679-005-2262-0
Do Investor Sophistication and Trading Experience Eliminate Behavioral Biases in Financial Markets?
resolves10.1111/j.1540-6261.2008.01368.x
Presidential Address: The Cost of Active Investing
resolves10.1016/j.frl.2007.10.001
Why inexperienced investors do not learn: They do not know their past portfolio performance
resolves10.1093/rof/rfn005
Equity Portfolio Diversification
resolves10.1111/j.1475-6803.1997.tb00241.x
COGNITIVE DISSONANCE AND MUTUAL FUND INVESTORS
resolves10.1111/j.1540-6261.1996.tb02707.x
Another Puzzle: The Growth in Actively Managed Mutual Funds
resolves10.1111/j.1475-6803.2006.00189.x
INDIVIDUAL EQUITY RETURN DATA FROM THOMSON DATASTREAM: HANDLE WITH CARE!
resolves10.1111/j.1540-6261.1968.tb00815.x
THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964
resolves10.1093/rfs/hhl041
Unobserved Actions of Mutual Funds
resolves10.1287/mnsc.29.5.595
Three-Point Approximations for Continuous Random Variables
resolves10.1111/j.1540-6261.2008.01311.x
Which Money Is Smart? Mutual Fund Buys and Sells of Individual and Institutional Investors
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Mutual Fund Fees Around the World
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Planning and Financial Literacy: How Do Women Fare?
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The trouble with overconfidence.
resolves10.1111/j.1540-6261.2004.00710.x
Does Stock Return Momentum Explain the “Smart Money” Effect?
resolves10.1111/0022-1082.00066
Costly Search and Mutual Fund Flows
resolves10.3386/w13565
Financial Literacy and Stock Market Participation
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Is Money Smart? A Study of Mutual Fund Investors' Fund Selection Ability
The 17 references without a DOI — listed, not checked
no DOI — not checkedAustralia and New Zealand Banking Group (ed.) (2003), ANZ Survey of Adult Financial Literacy in Australia–Final Report, Working Paper, Melbourne.
no DOI — not checkedBailey, Warren, Alok Kumar, and David Ng (2009), Behavioral Biases and Mutual Fund Clienteles, Working Paper, Cornell University.
no DOI — not checkedBer, Silke, Alexander Kempf, and Stefan Ruenzi (2007), Determinanten der Mittelzuflüsse bei deutschen Aktienfonds, zfbf 59, 35–60.
no DOI — not checkedBessler, Wolfgang, David Blake, Peter Lückoff, and Ian Tonks (2009), Why is Persistent Mutual Fund Performance so Difficult to Achieve? The Impact of Fund Flows and Manager Turnover, Working Paper, University of Giessen.
no DOI — not checkedBluethgen, Ralph, Andreas Gintschel, Andreas Hackethal, and Armin Müller (2008), Financial Advice and Individual Investors’ Portfolios, Working Paper, University Schloss Reichartshausen.
no DOI — not checkedBundesverband Investment und Asset Management e.V. (ed.) (2007), Investment 2007: Daten, Fakten, Entwicklungen.
no DOI — not checkedBundesverband Investment und Asset Management e.V. (ed.) (2008), Investment 2008: Daten, Fakten, Entwicklungen.
no DOI — not checkedChoi, James J., David Laibson, and Brigitte C. Madrian (2009), Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds, Review of Financial Studies, forthcoming.
no DOI — not checkedCole, Shawn and Gauri K. Shastry (2009), Smart Money: The Effect of Education, Cognitive Ability, and Financial Literacy on Financial Market Participation, Working Paper, Harvard Business School.
no DOI — not checkedDe Meza, David, Bernd Irlenbusch, and Diane Reyniers (2008), Financial Capability: A Behavioural Economics Perspective, Working Paper, London School of Economics.
no DOI — not checkedEngström, Stefan (2007), Preferences and Characteristics of Mutual Fund Investors, Working Paper, Stockholm School of Economics and Agenta.
no DOI — not checkedGrinblatt, Mark, Seppo Ikaheimo, and Matti Keloharju (2007), Are Mutual Fund Fees Competitive? What IQ-Related Behavior Tells Us, Working Paper, University of California, Los Angeles.
no DOI — not checkedInvestment Company Institute (ed.) (2009), Investment Company Fact Book.
no DOI — not checkedKimball, Miles S. and Tyler Shumway (2007), Investor Sophistication and the Home Bias, Diversification, and Employer Stock Puzzle, Working Paper, University of Michigan.
no DOI — not checkedKorniotis, George M. and Alok Kumar (2009), Do Portfolio Distortions Reflect Superior Information or Psychological Biases, Working Paper, University of Texas.
no DOI — not checkedKramer, Marc M. (2009), Investment Advice and Individual Investor Portfolio Performance, Working Paper, University of Groningen.
no DOI — not checkedLusardi, Annamaria and Olivia S. Mitchell (2006), Financial Literacy and Planning: Implications for Retirement Wellbeing, Working Paper, Dartmouth College.
What this badge says. CiteStamped means the CHECKABLE references of this work were clean at the dated check: each resolved to a known work in a public registry, and none carried a retraction notice at that time. It says nothing about the quality, findings, or importance of the work itself, and nothing about references deposited without a DOI.

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