The Influence of Mutual Fund and Fund ‎Management Characteristics on Financial Inefficiency: An Empirical Study of Equity ‎ Mutual Funds in Thailand

Authors

  • Janjao Supornrungcharoen

    Faculty of Business Administration, Kasetsart University, Thailand

  • Surang Hensawang

    Faculty of Business Administration, Kasetsart University, Thailand

  • Dhanawat Siriwattanakul

    Faculty of Business Administration, Kasetsart University, Thailand

  • Tipparat Lahavichien

    Faculty of Business Administration, Kasetsart University, Thailand

  • Yodsawinkan Kobkanjanapued

    School of Accountancy, UTCC, Thailand

How to Cite

Supornrungcharoen , J. ., Hensawang , S. ., Siriwattanakul , D. ., Lahavichien , T. ., & Kobkanjanapued, Y. . (2025). The Influence of Mutual Fund and Fund ‎Management Characteristics on Financial Inefficiency: An Empirical Study of Equity ‎ Mutual Funds in Thailand. International Journal of Accounting and Economics Studies, 12(4), 105-112. https://doi.org/10.14419/0crq9565

Received date: July 19, 2025

Accepted date: July 25, 2025

Published date: August 4, 2025

DOI:

https://doi.org/10.14419/0crq9565

Keywords:

Mutual Fund Inefficiency; Mutual Fund Characteristics; Management Characteristics

Abstract

Even though equity mutual funds offer an attractive investment alternative, the inefficient funds lead to suffering for all ‎stakeholders. Therefore, this research was conducted to investigate how mutual fund and management characteristics ‎influence on inefficiency of equity mutual funds in Thailand. The samples included 254 equity mutual funds, and the ‎study period was from 2019 to 2021. Data were analyzed through logistic regression (Logit). The results revealed that both ‎fund age and management tenure had a statistically significant negative influence on financial distress. The GDP growth ‎rate and interest rate had statistically significant negative and positive influences, respectively. This research contributes ‎to the literature by highlighting the counterintuitive role of fund age and manager tenure in driving mutual fund ‎inefficiency within the Thai capital market context‎.

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How to Cite

Supornrungcharoen , J. ., Hensawang , S. ., Siriwattanakul , D. ., Lahavichien , T. ., & Kobkanjanapued, Y. . (2025). The Influence of Mutual Fund and Fund ‎Management Characteristics on Financial Inefficiency: An Empirical Study of Equity ‎ Mutual Funds in Thailand. International Journal of Accounting and Economics Studies, 12(4), 105-112. https://doi.org/10.14419/0crq9565

Received date: July 19, 2025

Accepted date: July 25, 2025

Published date: August 4, 2025