Do Mutual Funds Walk the Talk? Evidence from Fund Risk Disclosure
Clicks: 7
ID: 314617
2026
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This
article has not been analysed, so there is no overall score —
reader engagement is measured and shown alongside.
Reader Engagement
Emerging Content
1.8
/100
7 views
2 readers
AI Quality Assessment
Not analyzed
Readership in this journal
EmergingRanked #33 of 192 articles by views in review of financial studies
Most read
Least read
Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 192 in total.
Mint this article as an NFT
Not yet mintedCreate a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.
5
SUSD
one-off · no wallet required
Abstract
Abstract We examine the informativeness of fund risk disclosure by combining fund returns and textual data. We develop a novel measure, INF, to capture the explanatory power of disclosed risks for fund returns. Average INF is 55% after controlling for market risk and remains 26–29% after excluding risks related to fund name or strategy. We explain variations in INF through disclosure costs and benefits: (1) Funds with less informative disclosures face SEC comment letters and reduced flow, (2) informative disclosures attract institutional flows, and (3) performance concerns may disincentivize disclosure. Overall, funds face trade-offs between transparency and maintaining their competitive advantage. (JEL G12)
Abstract Quality Issue:
This abstract appears to be incomplete or contains metadata (98 words).
Try re-searching for a better abstract.
| Reference Key |
openalex_W7162017181
Use this key to autocite in the manuscript while using
SciMatic Manuscript Manager or Thesis Manager
|
|---|---|
| Authors | Jinfei Sheng, Nan Xu, Lu Zheng |
| Journal | review of financial studies |
| Year | 2026 |
| DOI |
10.1093/rfs/hhag020
|
| URL | |
| Keywords | Keywords not found |
Citations
No citations found. To add a citation, contact the admin at info@scimatic.org
Comments
No comments yet. Be the first to comment on this article.