Artikel
Analysis of Polish mutual funds performance: a Markovian approach
The aim of this study is to determine whether mutual funds provide benefits for their clients. The performance of Polish mutual funds has been evaluated in terms of their efficiency, including their potential inertia over time. Moreover, the use of the phenomenon of economies of scale resulting from assets inflow to the fund by means of the Markovian framework has been examined. The results are consistent with the efficient market hypothesis. When assessing the market-adjusted returns, underperformance was noticed in both small and large funds. The smart money effect, recognised in the literature, is not confirmed here; however, there are some noticeable investor reactions, such as the phenomenon of chasing performance.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Statistics in Transition New Series ; ISSN: 2450-0291 ; Volume: 22 ; Year: 2021 ; Issue: 1 ; Pages: 115-130 ; New York: Exeley
- Thema
-
Markov chain
smart money effect
effectiveness
performance inertia
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Filip, Dariusz
Rogala, Tomasz
- Ereignis
-
Veröffentlichung
- (wer)
-
Exeley
- (wo)
-
New York
- (wann)
-
2021
- DOI
-
doi:10.21307/stattrans-2021-006
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Filip, Dariusz
- Rogala, Tomasz
- Exeley
Entstanden
- 2021
Ähnliche Objekte (12)
EDWARD ROSSET (1897-1989) - THE NESTOR OF POLISH DEMOGRAPHERS AND STATISTICIANS
SPATIAL MEASURES OF DEVELOPMENT IN EVALUATING THE DEMOGRAPHIC POTENTIAL OF POLISH COUNTIES
A MULTIDIMENSIONAL AND DYNAMISED CLASSIFICATION OF POLISH PROVINCES BASED ON SELECTED FEATURES OF HIGHER EDUCATION IN 2002–2013
Measuring and Testing Mutual Dependence of Multivariate Functional Data
Predicting Polish transport industry equilibrium characteristics as an inverse problem: An Entropy Econometrics Model
SHIFT IN METHODOLOGY AND POPULATION CENSUS QUALITY
APPLICATION OF THE STRATEGY COMBINING MONETARY UNIT SAMPLING AND THE HORVITZ– THOMPSON ESTIMATOR OF ERROR AMOUNT IN AUDITING – RESULTS OF A SIMULATION STUDY
SAE EDUCATION CHALLENGES TO ACADEMICS AND NSI
USING SYMBOLIC DATA IN GRAVITY MODEL OF POPULATION MIGRATION TO REDUCE MODIFIABLE AREAL UNIT PROBLEM (MAUP)
EXTREME GRADIENT BOOSTING METHOD IN THE PREDICTION OF COMPANY BANKRUPTCY
KNOWLEDGE-BASED ECONOMY IN THE EUROPEAN UNION – CROSS-COUNTRY ANALYSIS
Confidence bands for a distribution function with merged data from multiple sources
EDWARD ROSSET (1897-1989) - THE NESTOR OF POLISH DEMOGRAPHERS AND STATISTICIANS
SPATIAL MEASURES OF DEVELOPMENT IN EVALUATING THE DEMOGRAPHIC POTENTIAL OF POLISH COUNTIES
A MULTIDIMENSIONAL AND DYNAMISED CLASSIFICATION OF POLISH PROVINCES BASED ON SELECTED FEATURES OF HIGHER EDUCATION IN 2002–2013
Measuring and Testing Mutual Dependence of Multivariate Functional Data
Predicting Polish transport industry equilibrium characteristics as an inverse problem: An Entropy Econometrics Model
SHIFT IN METHODOLOGY AND POPULATION CENSUS QUALITY
APPLICATION OF THE STRATEGY COMBINING MONETARY UNIT SAMPLING AND THE HORVITZ– THOMPSON ESTIMATOR OF ERROR AMOUNT IN AUDITING – RESULTS OF A SIMULATION STUDY
SAE EDUCATION CHALLENGES TO ACADEMICS AND NSI
USING SYMBOLIC DATA IN GRAVITY MODEL OF POPULATION MIGRATION TO REDUCE MODIFIABLE AREAL UNIT PROBLEM (MAUP)
EXTREME GRADIENT BOOSTING METHOD IN THE PREDICTION OF COMPANY BANKRUPTCY
KNOWLEDGE-BASED ECONOMY IN THE EUROPEAN UNION – CROSS-COUNTRY ANALYSIS
Confidence bands for a distribution function with merged data from multiple sources
EDWARD ROSSET (1897-1989) - THE NESTOR OF POLISH DEMOGRAPHERS AND STATISTICIANS
SPATIAL MEASURES OF DEVELOPMENT IN EVALUATING THE DEMOGRAPHIC POTENTIAL OF POLISH COUNTIES
A MULTIDIMENSIONAL AND DYNAMISED CLASSIFICATION OF POLISH PROVINCES BASED ON SELECTED FEATURES OF HIGHER EDUCATION IN 2002–2013
Measuring and Testing Mutual Dependence of Multivariate Functional Data
Predicting Polish transport industry equilibrium characteristics as an inverse problem: An Entropy Econometrics Model
SHIFT IN METHODOLOGY AND POPULATION CENSUS QUALITY
APPLICATION OF THE STRATEGY COMBINING MONETARY UNIT SAMPLING AND THE HORVITZ– THOMPSON ESTIMATOR OF ERROR AMOUNT IN AUDITING – RESULTS OF A SIMULATION STUDY
SAE EDUCATION CHALLENGES TO ACADEMICS AND NSI
USING SYMBOLIC DATA IN GRAVITY MODEL OF POPULATION MIGRATION TO REDUCE MODIFIABLE AREAL UNIT PROBLEM (MAUP)
EXTREME GRADIENT BOOSTING METHOD IN THE PREDICTION OF COMPANY BANKRUPTCY
KNOWLEDGE-BASED ECONOMY IN THE EUROPEAN UNION – CROSS-COUNTRY ANALYSIS