Measuring Innovation and Product Differentiation: Evidence from Mutual Funds

We study innovation and product differentiation using a uniqueness measure based on textual analysis of prospectuses. We find that small and start-up families have higher start rates than larger families, and their products are more unique. Unique strategies attract more inflows in the first three y...

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Veröffentlicht in:	The Journal of finance (New York) 2020-04, Vol.75 (2), p.779-823
Hauptverfasser:	KOSTOVETSKY, LEONARD, WARNER, JEROLD B.
Format:	Artikel
Sprache:	eng
Schlagworte:	Differentiation Innovations Mutual funds Power Product differentiation Textual analysis Uniqueness
Online-Zugang:	Volltext
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