Publicación:
PERSISTENCE IN EQUITY FUND PERFORMANCE IN BRAZIL

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dc.creatorBENITO ELIOT UMAÑA HERMOSILLA
dc.date2014
dc.date.accessioned2025-01-10T14:47:19Z
dc.date.available2025-01-10T14:47:19Z
dc.date.issued2014
dc.description.abstractWE EXAMINE PERFORMANCE PERSISTENCE IN THE LARGE AND GROWING BRAZILIAN EQUITY FUND MARKET FROM 2000 TO 2012. WE FIND A SIGNIFICANT RISK-ADJUSTED SPREAD BETWEEN A PORTFOLIO OF TOP- AND BOTTOM-PERFORMING FUNDS, WHICH SUPPORTS THE IDEA THAT PERFORMANCE PERSISTS. THIS SPREAD REMAINS AFTER CONTROLLING FOR MARKET, SIZE, DISTRESS, AND MOMENTUM RISK FACTORS AND TENDS TO BE LARGER AND MORE SIGNIFICANT FOR A SET OF SMALL AND RETAIL FUNDS. THE SPREAD IS MOSTLY DRIVEN BY THE UNDERPERFORMANCE OF THE BOTTOM DECILE OF FUNDS, WHICH IS CONSISTENT WITH THE EXISTENCE OF SOME FUND MANAGERS WITH INSUFFICIENT SKILLS TO RECOVER INVESTMENT COSTS.
dc.formatapplication/pdf
dc.identifier.doi10.2753/REE1540-496X500202
dc.identifier.issn1558-0938
dc.identifier.issn1540-496X
dc.identifier.urihttps://repositorio.ubiobio.cl/handle/123456789/8970
dc.languagespa
dc.publisherEMERGING MARKETS FINANCE AND TRADE
dc.relation.uri10.2753/REE1540-496X500202
dc.rightsPUBLICADA
dc.subjectPERSISTENCE
dc.subjectLATIN AMERICA
dc.subjectEQUITY FUND PERFORMANCE
dc.titlePERSISTENCE IN EQUITY FUND PERFORMANCE IN BRAZIL
dc.typeARTÍCULO
dspace.entity.typePublication
ubb.EstadoPUBLICADA
ubb.SedeCHILLÁN
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