search query: @indexterm SELECTION OF PERSONNEL / total: 491
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| Author: | Chen, C. R. |
| Title: | A cross-sectional analysis of mutual funds' market timing and security selection skill. |
| Journal: | Journal of Business Finance and Accounting
1992 : SEP, VOL. 19:5, p. 659-675 |
| Index terms: | UNIT TRUSTS PORTFOLIO MANAGEMENT MANAGERS SELECTION OF PERSONNEL FINANCIAL MODELS |
| Language: | eng |
| Abstract: | This paper analyzes security selection and market timing abilities of managers of a sample of mutual funds. The factors which may have an impact on disaggregated performance measures are investigated. The results indicate weak asset selection and negative market timing skill for average portfolio managers. It was also found that expense ratio, size, load fee and stated objective contribute to cross-sectional variations in selectivity and market timing activity of mutual funds. Nonetheless, the direction and magnitude of these impacts tend to vary across different objective groups of funds. |
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