Czynniki organizacyjne funduszy wpływające na poziom ryzyka inwestycyjnego
The Influence of Organizational Fund Characteristics on Risk Level

Summary/Abstract: The aim of the article was to examine the dependence of level of investment risk on selected organizational fund characteristics. The analysis was conducted for 69 domestic mixed funds, divided into stable growth funds, balanced funds and active allocation funds, operated in the 2000–2015 period. The study employed 4 popular measures of risk and organizational factors such as size, age and inflow rate. By means of two regression methods for time-series cross-section data there was revealed that an increase of assets under management positively influences the level of variability, volatility, sensitivity and accuracy of the benchmark. A fund age factor was able to significantly influence the risk level measured mainly by beta and determination coefficients. The mentioned variable negatively impacted on variability of returns only for balanced funds

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