Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/56119 
Autor:innen: 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
SSE/EFI Working Paper Series in Economics and Finance No. 554
Verlag: 
Stockholm School of Economics, The Economic Research Institute (EFI), Stockholm
Zusammenfassung: 
This paper studies the relation between fund performance and the fund manager's investment strategy, which is based on the characteristics of the portfolio. The results show that neither momentum characteristics nor the valuation of stocks can explain differences in fund performance. However, the paper finds a negative firm-size effect that partly explains previous findings of a negative fund-size effect. Moreover, the results show a positive relation between performance and the degree of diversification within the fund portfolio. However, diversification by including non-listed stocks does not enhance performance.
Schlagwörter: 
Diversification
Portfolio Evaluation
Investment Strategies
Momentum
JEL: 
G11
G12
G23
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
569.62 kB





Publikationen in EconStor sind urheberrechtlich geschützt.