The Performance and Persistence of Mutual Funds: The Performance and Persistence of Mutual Funds: The Performance and Persistence of Mutual Funds: The Performance and Persistence of Mutual Funds: The Performance and Persistence of Mutual Funds: Applicatio

• Main Authors: Chiu Tzu Hsuan, 邱子軒
• Other Authors: Chih-Hsien, Lo
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/04378181826400186216

碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 99 === Vast financial literatures measure or test the investment performance and performance persistence of mutual funds. However, it is inclusive whether or not mutual funds can beat the market index. The reason behind this phenomenon may arise from the data snooping bias inherent in the statistical methodologies. Hence, this study use the stepwise superior predictive ability test proposed by Hsu, Hsu and Kuan (2010) to reinvestigate the performance and persistence of mutual funds in Taiwan. Our test results show that no funds can beat the market index and no funds have performance persistence no matter the style of the funds are stock or balance.