{"id":"https://openalex.org/W2011989606","doi":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","title":"Optimal Number of Stock Holdings in Mutual Fund Portfolios Based on Market Performance","display_name":"Optimal Number of Stock Holdings in Mutual Fund Portfolios Based on Market Performance","publication_year":2005,"publication_date":"2005-10-11","ids":{"openalex":"https://openalex.org/W2011989606","doi":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","mag":"2011989606"},"language":"en","primary_location":{"id":"doi:10.1111/j.1540-6288.2005.00120.x","doi":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Financial Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041521358","display_name":"Hany A. Shawky","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I392282","display_name":"University at Albany, State University of New York","ror":"https://ror.org/012zs8222","country_code":"US","type":"education","lineage":["https://openalex.org/I392282"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Hany A. Shawky","raw_affiliation_strings":["University at Albany E-mail: [email protected]","University at Albany\u2003E\u2010mail: ds693@albany.edu"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University at Albany E-mail: [email protected]","institution_ids":["https://openalex.org/I392282"]},{"raw_affiliation_string":"University at Albany\u2003E\u2010mail: ds693@albany.edu","institution_ids":["https://openalex.org/I392282"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101922929","display_name":"David M. Smith","orcid":"https://orcid.org/0000-0002-5359-1583","observed_orcids":["https://orcid.org/0000-0002-5359-1583"]},"institutions":[{"id":"https://openalex.org/I392282","display_name":"University at Albany, State University of New York","ror":"https://ror.org/012zs8222","country_code":"US","type":"education","lineage":["https://openalex.org/I392282"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"David M. Smith","raw_affiliation_strings":["University at Albany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University at Albany","institution_ids":["https://openalex.org/I392282"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5041521358"],"corresponding_institution_ids":["https://openalex.org/I392282"],"apc_list":{"value":2900,"currency":"USD","value_usd":2900},"apc_paid":null,"fwci":2.8464,"has_fulltext":false,"cited_by_count":44,"citation_normalized_percentile":{"value":0.91768306,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"40","issue":"4","first_page":"481","last_page":"495"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9911999702453613,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9911999702453613,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.005499999970197678,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mutual-fund-portfolios","display_name":"mutual fund portfolios","score":0.6830000281333923},{"id":"https://openalex.org/keywords/diversification-benefits","display_name":"diversification benefits","score":0.796999990940094},{"id":"https://openalex.org/keywords/transaction-costs","display_name":"transaction costs","score":0.9599999785423279},{"id":"https://openalex.org/keywords/monitoring-costs","display_name":"monitoring costs","score":0.9639999866485596},{"id":"https://openalex.org/keywords/risk-adjusted-returns","display_name":"risk-adjusted returns","score":0.9890000224113464},{"id":"https://openalex.org/keywords/mutual-fund-flows","display_name":"mutual fund flows","score":0.8100000023841858},{"id":"https://openalex.org/keywords/equity-funds","display_name":"equity funds","score":0.8080000281333923}],"concepts":[{"id":"https://openalex.org/C2777064782","wikidata":"https://www.wikidata.org/wiki/Q791974","display_name":"Mutual fund","level":2,"score":0.7836567163467407},{"id":"https://openalex.org/C84355842","wikidata":"https://www.wikidata.org/wiki/Q361863","display_name":"Closed-end fund","level":3,"score":0.6778906583786011},{"id":"https://openalex.org/C17738144","wikidata":"https://www.wikidata.org/wiki/Q7685888","display_name":"Target date fund","level":5,"score":0.6563595533370972},{"id":"https://openalex.org/C180916674","wikidata":"https://www.wikidata.org/wiki/Q3711935","display_name":"Diversification (marketing strategy)","level":2,"score":0.5887729525566101},{"id":"https://openalex.org/C155301685","wikidata":"https://www.wikidata.org/wiki/Q493177","display_name":"Open-end fund","level":4,"score":0.5718188881874084},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.5273669362068176},{"id":"https://openalex.org/C11393971","wikidata":"https://www.wikidata.org/wiki/Q6746722","display_name":"Manager of managers fund","level":3,"score":0.5271957516670227},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.525856077671051},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5169398188591003},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4954320192337036},{"id":"https://openalex.org/C34375142","wikidata":"https://www.wikidata.org/wiki/Q1156684","display_name":"Fund of funds","level":3,"score":0.492291122674942},{"id":"https://openalex.org/C90561083","wikidata":"https://www.wikidata.org/wiki/Q6015055","display_name":"Income fund","level":5,"score":0.45616015791893005},{"id":"https://openalex.org/C55286048","wikidata":"https://www.wikidata.org/wiki/Q5508875","display_name":"Fund administration","level":4,"score":0.45299267768859863},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4458659887313843},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4029059410095215},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3811408281326294},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.35956746339797974},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.335196316242218},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.14114180207252502},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0623132586479187},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.0},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/j.1540-6288.2005.00120.x","doi":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.2005.00120.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Financial Review","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.6299999952316284,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":11,"referenced_works":["https://openalex.org/W1973241508","https://openalex.org/W1994649339","https://openalex.org/W2000157143","https://openalex.org/W2011170429","https://openalex.org/W2011434592","https://openalex.org/W2015856032","https://openalex.org/W2097885654","https://openalex.org/W2137520253","https://openalex.org/W2795413297","https://openalex.org/W4210256477","https://openalex.org/W4234996590"],"related_works":["https://openalex.org/W7054937839","https://openalex.org/W7021226736","https://openalex.org/W1485510170","https://openalex.org/W2075314143","https://openalex.org/W2094466985","https://openalex.org/W4413851187","https://openalex.org/W7080975718","https://openalex.org/W2489006100","https://openalex.org/W7099753139","https://openalex.org/W3213095500"],"abstract_inverted_index":{"Among":[0],"the":[1,11,32,70],"decisions":[2],"that":[3,19,67],"most":[4],"mutual":[5,29,59,82],"fund":[6,60,83],"portfolio":[7],"managers":[8],"make":[9],"is":[10,21],"number":[12,24,49,71],"of":[13,25,50,72],"stocks":[14,26,73],"to":[15],"hold.":[16],"We":[17,42],"posit":[18],"there":[20],"an":[22],"optimal":[23],"for":[27,56],"each":[28],"fund,":[30],"reflecting":[31],"trade-off":[33],"between":[34,48],"diversification":[35],"benefits":[36],"versus":[37],"transactions":[38],"and":[39,53],"monitoring":[40],"costs.":[41],"find":[43,66],"a":[44],"significant":[45],"quadratic":[46],"relation":[47],"stock":[51],"holdings":[52],"risk-adjusted":[54],"returns":[55],"U.S.":[57],"equity":[58],"portfolios":[61],"during":[62],"1992\u20132000.":[63],"Moreover,":[64],"we":[65],"changes":[68],"in":[69],"held":[74],"over":[75],"time":[76],"are":[77],"more":[78],"highly":[79],"correlated":[80],"with":[81,86],"flows":[84],"than":[85],"funds'":[87],"investment":[88],"returns.":[89]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}