haku: @author Kasanen, E. / yhteensä: 9
viite: 7 / 9
| Tekijä: | Kasanen, E. |
| Otsikko: | The performance of a newly emerged mutual fund industry on a thin security market: empirical evidence from Finland |
| Lehti: | International Review of Financial Analysis
1992 : VOL. 1:2, p. 149-160 |
| Asiasana: | FINLAND UNIT TRUSTS FINANCE |
| Kieli: | eng |
| Tiivistelmä: | It is conjectured that on a thin security market it might be possible to earn positive abnormal returns. The performance of the entire mutual fund industry in Finland during its first two full years is analysed. The realised annual rates of return are approximately 7% and -3% for the market and mutual funds, respectively. All the classical risk-adjusted performance measures produce analogous results. The negative abnormal returns of the mutual fund industry might indicate a learning curve effect or stringent legal constraints in a new industry. |
SCIMA