Efficiency of mutual funds and portfolio
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B.P.S. Murthi; Yoon K. Choi; Preyas Desai
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Article
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1997
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Elsevier Science
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English
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In finance, portfolio performance assessment is an important area of research. The two popular indices of performance are the Jensen's alpha and the Sharpe index. However there are a number of shortcomings of the above measures that have been highlighted in the literature. We propose a new measure o