کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9554694 | 1376102 | 2005 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
What is the Abnormal Return Performance of Mutual Funds due to Private Earnings Information?
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار، مدیریت و حسابداری (عمومی)
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چکیده انگلیسی
This study, employs a unique database of monthly portfolio holdings of Australian mutual funds to measure the monthly abnormal returns realised by mutual funds due to earnings information across all months in a typical year. We find evidence consistent with mutual funds realising abnormal returns due to earnings news in both the pre-announcement period and over the announcement window. The results suggest that earnings information explains approximately 25% of a mutual funds average monthly abnormal performance. Finally, we find that the contribution of earnings to the performance of mutual funds is greatest in the month in which earnings are announced.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Contemporary Accounting & Economics - Volume 1, Issue 2, December 2005, Pages 193-215
Journal: Journal of Contemporary Accounting & Economics - Volume 1, Issue 2, December 2005, Pages 193-215
نویسندگان
Matt Pinnuck,