Does the Past Performance Represent Future Performance of Mutual Funds? The Evidences of Domestic Equity Type Mutual Funds
| Autor: | CHEN, CHIH-HSIANG, 陳志祥 |
|---|---|
| Rok vydání: | 2016 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 高階經營管理碩士在職專班(EMBA) 104 The objective of this study is to investigate the linkage between past performance and the current performance of all Taiwan domestic equity type mutual funds. The data source is the monthly, quarterly, semiannual, annual, and bi-annual data from Taiwan Economic Journal (TEJ). The examination periods are from the first quarter of 2005 to the first quarter of 2016. The performances of the mutual funds are categorized into high, medium, and low performing groups based on the return on investment, Sharpe ratio, Jensen’s alpha, and Treynor ratio. The results indicate that domestic equity type mutual funds have persistent performance for lag one period. The results can be the reference for the investors who invest in the domestic equity type mutual funds. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|