This paper examines the short-term persistence in performance of equity mutual funds
around the world between 1990 and 2013. Using a large survivorship bias-free sample of 35 …

This paper analyzes the short-term market efficiency of the mutual fund industry around the
world. Using a unique database of worldwide domestic equity funds, it employs a parametric …

In this paper, we analyze equity mutual funds from the main European countries using daily
and monthly returns to determine whether the temporary frequency of the data produces …

This paper proposes a methodology to assess whether a mutual fund (MF) manages its
costs and expenses efficiently, relative to its peers, in generating returns to investors. We …

Style drift contributes to mutual fund performance at the cost of additional risks associated
with styles. We find that, although style drift enhances the net return of Chinese mutual funds …

The purpose of this paper was to analyze the relationships between the portfolio turnover
and performance of equity investment funds in Brazil. There are few published studies on …

This paper shows that buying stocks that have performed poorly and selling stocks that have
performed well in the past generates positive returns in the Chinese stock market. Profits …

We find a puzzling fact about mutual fund industry that funds operating in more competitive
segments charge higher fees. We argue that this surprising positive relation between …

This article challenges existing studies of mutual fund market timing that have found little
evidence to support timing ability. Using a sample of daily returns for 35 countries, Vidal …

This study investigates the influence of corporate cash holdings on the flow of open-end
equity mutual funds. Building on the economic mechanisms that drive investors' decisions …