307 / 2024-04-24 11:42:24

Live streaming and mutual fund flows: Evidence from China

Fund flows, live streaming, signaling theory, propensity score matching, difference-in-differences

Live streaming has become prevalent in various industries. However, the impact of live streaming on mutual funds remains unexplored. This study empirically examines the relationship between live streaming and mutual fund flows. By employing propensity score matching and difference-in-differences methods, we find that the adoption of live streaming has a negative effect on mutual fund flows. Additionally, we observe the negative moderating effects of the fund size at inception and the proportion of institutional investors. We note that the effect of live streaming on mutual fund flows is not significant among state-owned firms. We explain these findings using signaling theory.