Imperfect Predictability and Mutual Fund Dynamics How Managers Use Predictors in Changing Systematic Risk
نویسندگان
چکیده
In 2008 all ECB publications feature a motif taken from the 10 banknote. Fax +49 69 1344 6000 All rights reserved. Any reproduction, publication and reprint in the form of a different publication, whether printed or produced electronically, in whole or in part, is permitted only with the explicit written authorisation of the ECB or the author(s). The views expressed in this paper do not necessarily refl ect those of the European Central Bank. Abstract 4 Non-technical summary 5
منابع مشابه
Dynamics of Risk Perception Towards Mutual Fund Investment Decisions
The present paper measures the risk perception of the bank employees in respect of investment in mutual fund and to identify the factors affecting risk perception. The paper also attempts to find out the impact of these factors on overall risk perception. The study is based on primary data collected by using questionnaire from the bank employees in Tripura state of India. For the analysis of da...
متن کاملPerformance Evaluation of Closed Ended Mutual Funds in Pakistan
Mutual funds are the best tool to mobilize savings and investments in an economy and Pakistan is the pioneer in South Asia, but this industry is not as much mature in comparison to its age in Pakistan. This paper examines the performance of closed ended mutual funds in Pakistan by using five different ranking measures during a period of January 2009 to December 2013 and the sample consists of o...
متن کاملEffect of Exchange Rate Change Shocks on Systemic Risk Index Among Mutual Funds
Financial stability is amongst the issues that have been increasingly considered over the past two decades. Today, money and capital markets play a substantial role in the development of societies, but at the same time, this development will be problematic if it is not accompanied by a program, control, and supervision. The main reason is that, due to the correlation between the real and financ...
متن کاملMutual fund tournament : Risk taking incentives induced by ranking objectives ∗
Mutual funds’ performance rankings are widely publicized in the media and have a strong impact on fund flows (see, e.g., Sirri and Tufano, 1998). In this paper, we study risk taking incentives of mutual fund managers who have ranking objectives (as in a tournament). First, in a two-period model, we analyze the game played by two risk-neutral fund managers with ranking objectives. We show that i...
متن کامل1 A Bayesian Approach to Estimating Mutual Fund
Accurate estimation of mutual fund statistics, such as mean return and standard deviation , can help shedding some light onto whether some mutual funds can consistently outperform the general market. In addition, it can help investors make more sound investment decisions. Because the available sample of returns is often not enough to give suucient conndence in the estimates, we propose a novel ...
متن کامل