The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia

The rise of the mutual fund industry has prompted studies on mutual fund performance. Investors are increasingly concerned about mutual fund performance when making investment decisions requiring information and guidance. This study examines relationships between determinants of mutual fund performa...

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Main Author:	Hassan, Hafinaz Hasniyanti
Format:	Thesis
Language:	English
Published:	2022
Subjects:	HG Finance
Online Access:	http://eprints.utm.my/108287/1/HafinazHasniyantiHassanPAHIBS2022.pdf.pdf
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id	my-utm-ep.108287
record_format	uketd_dc
spelling	my-utm-ep.1082872024-11-01T02:45:48Z The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia 2022 Hassan, Hafinaz Hasniyanti HG Finance The rise of the mutual fund industry has prompted studies on mutual fund performance. Investors are increasingly concerned about mutual fund performance when making investment decisions requiring information and guidance. This study examines relationships between determinants of mutual fund performance, namely before-fee performance, fund governance, and market timing ability, on total ownership cost and mutual fund performance. This study further scrutinizes the mediating effect of total ownership cost on the determinants of mutual fund performance. The previous research has mainly focused on the impact of fees and mutual fund performance with great attention on conventional mutual funds compared to Islamic mutual funds. However, this comprehensive study contributes different perspectives by using efficient market theory, asset pricing theory, transaction cost theory, agency theory, and interdisciplinary theory of performance in explaining the relationship among the variables. The results have shown a novel contribution to the link of total ownership cost in Islamic equity fund performance. Panel data regression analysis and structural equation modeling were used to evaluate the association between variables and the mediation effect on the data during the study period from 2008 to 2020, covering the economic recovery stage and current global pandemic crises in the Malaysian mutual fund market. The result suggests a significant relationship between before-fee performance, market timing ability, and total ownership cost with fund performance. Additionally, fund governance has shown a negative association with total ownership cost. The total ownership cost mediates fund governance and performance, demonstrating that costs are more consistent with performance. The findings provide valuable insight into the factors that influence fund performance and cost determination to assist mutual fund providers and policymakers in widening Islamic equity funds. 2022 Thesis http://eprints.utm.my/108287/ http://eprints.utm.my/108287/1/HafinazHasniyantiHassanPAHIBS2022.pdf.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:154388 phd doctoral Universiti Teknologi Malaysia Azman Hashim International Business School
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	HG Finance
spellingShingle	HG Finance Hassan, Hafinaz Hasniyanti The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
description	The rise of the mutual fund industry has prompted studies on mutual fund performance. Investors are increasingly concerned about mutual fund performance when making investment decisions requiring information and guidance. This study examines relationships between determinants of mutual fund performance, namely before-fee performance, fund governance, and market timing ability, on total ownership cost and mutual fund performance. This study further scrutinizes the mediating effect of total ownership cost on the determinants of mutual fund performance. The previous research has mainly focused on the impact of fees and mutual fund performance with great attention on conventional mutual funds compared to Islamic mutual funds. However, this comprehensive study contributes different perspectives by using efficient market theory, asset pricing theory, transaction cost theory, agency theory, and interdisciplinary theory of performance in explaining the relationship among the variables. The results have shown a novel contribution to the link of total ownership cost in Islamic equity fund performance. Panel data regression analysis and structural equation modeling were used to evaluate the association between variables and the mediation effect on the data during the study period from 2008 to 2020, covering the economic recovery stage and current global pandemic crises in the Malaysian mutual fund market. The result suggests a significant relationship between before-fee performance, market timing ability, and total ownership cost with fund performance. Additionally, fund governance has shown a negative association with total ownership cost. The total ownership cost mediates fund governance and performance, demonstrating that costs are more consistent with performance. The findings provide valuable insight into the factors that influence fund performance and cost determination to assist mutual fund providers and policymakers in widening Islamic equity funds.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Hassan, Hafinaz Hasniyanti
author_facet	Hassan, Hafinaz Hasniyanti
author_sort	Hassan, Hafinaz Hasniyanti
title	The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
title_short	The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
title_full	The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
title_fullStr	The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
title_full_unstemmed	The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia
title_sort	total ownership cost link between islamic mutual funds performance and its determinants in malaysia
granting_institution	Universiti Teknologi Malaysia
granting_department	Azman Hashim International Business School
publishDate	2022
url	http://eprints.utm.my/108287/1/HafinazHasniyantiHassanPAHIBS2022.pdf.pdf
_version_	1818646938328760320

The total ownership cost link between Islamic mutual funds performance and its determinants in Malaysia

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