New Explaining Persistence in Openend Fund Performance
We have examined the persistence in stock open-end fund performance using CSMAR fund sample of 53 actively managed China stock funds over the period from January 2009 to December 2011.In this paper, we have used two different ways, parametric method and nonparametric method, to examine the persistence of fund performance which has expanded the research method. We find that there is indeed persistence of fund performance in the long run term which is the similar result of the two different methods. We can conclude that the former period fund contains the information of the later period fund, which means if a fund performs well in the current period will perform well in the future and vice versa.
Open-end Funds Performance Persistence parametric method non-parametric method
ZHONG Tingyong AN Ye LI Jiangna
Guanghua College of ChangChun University, Changchun, China, 130117 School of Business, Northeast Nor Guanghua College of ChangChun University, Changchun, China, 130117
国际会议
大连
英文
364-369
2012-07-07（万方平台首次上网日期，不代表论文的发表时间）