کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5088573 | 1478325 | 2015 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The prediction of fund failure through performance diagnostics
ترجمه فارسی عنوان
پیش بینی شکست صندوق از طریق تشخیص عملکرد
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
Using an international database featuring 1624 mutual funds over 15Â years, this paper analyses the joint abilities of performance measures to predict subsequent fund failure. We examine the probability of disappearance over a time window, and expected fund survival time, and study the circumstances of a fund's disappearance, its currency and domicile. By combining relevant measures, fund failure appears to a significant extent predictable, more than with single classical measures. Survivorship predictability has significant economic value. Such evidence suggests that past performance does not only influence investors' perception of fund quality, but also reflects managers' ability to sustain performance.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 50, January 2015, Pages 224-241
Journal: Journal of Banking & Finance - Volume 50, January 2015, Pages 224-241
نویسندگان
Philippe Cogneau, Georges Hübner,