MUTUAL FUND PERFORMANCE PERSISTENCE

MUTUAL FUND PERFORMANCE PERSISTENCE

Mutual fund persistence is well documented in the finance literature, but not well explained. The purpose of this paper is to examine the performance persistence of a large sample ofmutual funds over time. Specifically do mutual fund managers show positive (negative) performanceyear after year? <...

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Bibliographic Details
Main Authors: Ali Saleh abadi, Yahya Hassas Yeganeh, Hamid Zargham boroujeni, Javad Ebadi
Format: Article
Language:fas
Published: University of Tehran 2016-06-01
Series:تحقیقات مالی
Subjects:
mutual fund
performance appraisal
persistence of performance
market efficiency
Online Access:https://jfr.ut.ac.ir/article_59270_433dc6c0fc169012fe9764ab35240fcb.pdf
Description
Summary:Mutual fund persistence is well documented in the finance literature, but not well explained. The purpose of this paper is to examine the performance persistence of a large sample ofmutual funds over time. Specifically do mutual fund managers show positive (negative) performanceyear after year? <br />Accordingly in light of random walk, strong form of efficiency can be tested through the study of the persistence in mutual funds performance. In this paper, the performance consistency for 62 mutual funds, from April 2008 to March 2014, is examined. Our findings indicate the strong form of efficiency from evidence Tehran Stock Exchange.
ISSN:1024-8153
2423-5377

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