Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/wiley/investment-performance-of-international-mutual-funds-QL6fqOR11h
References (14)
-
Cheol Eun, R. Kolodny, Bruce Resnick (1991)
U.S.–based international mutual funds, 17
-
Stanley Kon, F. Jen (1979)
The Investment Performance of Mutual Funds: An Empirical Investigation of Timing, Selectivity, and Market EfficiencyThe Journal of Business, 52
-
Henriksson Henriksson, Merton Merton (1981)
On market timing and investment performance. II. Statistical procedures for evaluating forecasting skillsJournal of Business, 54
-
Sanford Grossman (1976)
ON THE EFFICIENCY OF COMPETITIVE STOCK MARKETS WHERE TRADES HAVE DIVERSE INFORMATIONJournal of Finance, 31
-
M. Jensen (1967)
The Performance of Mutual Funds in the Period 1945-1964Harvard Business School: Negotiation
-
Eun Eun, Kolodny Kolodny, Resnick Resnick (1991)
U.S.‐based international mutual funds: A performance evaluationJournal of Portfolio Management, 17
-
Jensen Jensen (1968)
The performance of mutual funds in the period 1954–1964Journal of Finance, 23
-
R. Cumby, J. Glen (1990)
Evaluating the Performance of International Mutual FundsJournal of Finance, 45
-
Merton Merton (1981)
On market timing and investment performance. I. An equilibrium theory of the value for market forecastsJournal of Business, 54
-
Treynor Treynor (1965)
How to rate management of invstment fundsHarvard Business Review, 43
-
Sharpe Sharpe (1966)
Mutual fund performanceJournal of Business, 39
-
Richard Ippolito (1989)
Efficiency with Costly Information: A Study of Mutual Fund Performance, 1965–1984Quarterly Journal of Economics, 104
-
W. Fuller, G. Battese (1974)
Estimation of linear models with crossed-error structureJournal of Econometrics, 2
-
E. Chang, Wilbur Lewellen (1984)
Market Timing and Mutual Fund Investment PerformanceThe Journal of Business, 57
- Publisher
- Wiley
- Copyright
- © The Southern Finance Association and the Southwestern Finance Association
- ISSN
- 0270-2592
- eISSN
- 1475-6803
- DOI
- 10.1111/j.1475-6803.1994.tb00170.x
- Publisher site
- See Article on Publisher Site
Abstract
In this paper we add several new perspectives to the growing body of empirical evidence on the investment performance of international mutual funds by applying a pooled cross‐sectional/time‐series regression methodology to a large data base over an extended period. Risk‐adjusted and unadjusted investment returns are not related to whether a fund is load or no‐load, and asset size, expense ratios, and turnover rates are not related to investment performance. We find no reward for paying a load fee when investing in mutual funds. It is noteworthy that performance is not affected by fund size, given the explosive growth of international mutual funds.
Journal
The Journal of Financial Research – Wiley
Published: Mar 1, 1994