本文从实证角度出发,采用单因素方差分析法研究基金规模与基金绩效之间的关系,并应用对数变换成本模型来研究开放式基金在我国股市牛市、熊市不同状态下的最优规模,从而为投资者理性选择投资基金和监管机构制定政策提供依据。 This article from the empirical point of view, the use of single-factor analysis of variance analysis of the relationship between fund size and fund performance, and the application of logarithmic transformation cost model to study the open-end funds in China’s stock market bull market, the optimal state under different states, thus For investors to rational choice of investment funds and regulators to provide policy basis.