Unless quality is apparent at the point of sale, the market must find ways to ensure the
delivery of high-quality products; otherwise, producers have incentives to sell low-quality …

This paper hypothesizes that tight financial controls associated with large diversified M‐form
firms lead to a short‐term, low‐risk orientation and thereby lower relative investment in R&D …

It is commonly believed that mutualfund investment performance is consistent with the
ornginal version of the so-called efficient market theory, hence that expenditures of money …

Extensive research has evaluated mutual fund performance in different financial markets
which led to mixed results (Soderlind et al., 2000; Korkeamaki and Smythe, 2004), however …

Most studies of managed fund performance use measures that are susceptible to bias
caused by common time variation in risks and risk premia. We evaluate the performance of …

The main purpose of this study is to use the Sharpe Ratio to test the efficient market
hypothesis for different market capitalization and investment styles of mutual funds. The …

Conventional wisdom holds that bonds are relatively homogenous investments compared to
equities. Consequently, factors that explain variation in returns among bond mutual funds …

The net returns of no-load mutual growth funds exhibit a hot-hands phenomenon during
1974-87. When performance is measured by Jensen's alpha, mutual funds that perform well …

In this paper, we examine the persistence of large-cap equity mutual funds performance,
market timing skills, and selectivity of fund managers in India. The study uses monthly data …

We classify mutual funds using cluster analysis and examine whether the categories created
by clusters are the same as those assigned by the investment objectives. Since mutual funds …