haku: @author Christopherson, J. A. / yhteensä: 1
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| Tekijä: | Christopherson, J. A. Ferson, W. E. Glassman, D. A. |
| Otsikko: | Conditioning manager alphas on economic information: Another look at the persistence of performance |
| Lehti: | Review of Financial Studies
1998 : SPRING, VOL. 11:1, p. 111-142 |
| Asiasana: | INVESTMENTS PERFORMANCE APPRAISAL INSTITUTIONAL INVESTORS INFORMATION |
| Kieli: | eng |
| Tiivistelmä: | This paper presents evidence on persistence in the relative investment performance of large institutional equity managers. Persistent performance concentrated in the managers with poor prior-period performance measures was found, similar to existing evidence for mutual funds. A conditional approach which uses time-varying measures of abnormal performance and risk is better able to detect this persistence and to predict the future performance of the funds than traditional methods are. |
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