کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5085429 | 1477959 | 2006 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Performance aspects of Greek bond mutual funds
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper examines the performance characteristics of Greek bond funds and the impact of fund flows on portfolio returns. The evidence shows that on average bond funds do not offer risk-adjusted profits exceeding the returns of the benchmark index, which is in consistence with the US and international evidence. Returns before fees are slightly superior to the returns of the benchmark index, but when fees are considered they lag considerably. The security selection and market timing skills of fund managers are also tested using both an unconditional and a conditional model to test for the impact of public information variables. We also find that fund flows impact negatively on market timing.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Financial Analysis - Volume 15, Issue 2, 2006, Pages 189-202
Journal: International Review of Financial Analysis - Volume 15, Issue 2, 2006, Pages 189-202
نویسندگان
Nikolaos Dritsakis, Christos Grose, Lampros Kalyvas,