Australian Stock Indexes and the Four-Factor Model
Stock indexes are passive ‘value-weighted’ portfolios and should not have alphas which are significantly different from zero. If an index produces an insignificant alpha, then significant alphas for equity funds using this index can be attributed solely to manager performance. However, recent litera...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Tuwhera Open Access Publisher
2014-06-01
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| Series: | Applied Finance Letters |
| Subjects: | |
| Online Access: | https://ojs.aut.ac.nz/applied-finance-letters/article/view/17 |