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Managerial skill and closed-end fund discounts

✍ Scribed by Michael Bleaney; R. Todd Smith

Book ID
107341679
Publisher
Springer US
Year
2010
Tongue
English
Weight
299 KB
Volume
24
Category
Article
ISSN
1555-4961

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πŸ“œ SIMILAR VOLUMES

Is prior performance priced through clos
Is prior performance priced through closed-end fund discounts?
✍ Michael Bleaney; R. Todd Smith πŸ“‚ Article πŸ“… 2008 πŸ› John Wiley and Sons 🌐 English βš– 112 KB

## Abstract In open‐end mutual funds (unit trusts), there is a strong positive cross‐sectional relationship between net inflows to individual funds and past performance, as if investors attributed performance to managerial skill. Performance shows only very weak persistence, however, so at first si