The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio
碩士 === 大葉大學 === 管理學院碩士在職專班 === 103 === The public have various ways of making financial investments and mutual funds are one such popular approach. The majority like to use mutual funds because the fund manager can employ his professional research team to collect useful information to select a targe...
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ndltd-TW-103DYU011210182017-04-24T04:22:41Z http://ndltd.ncl.edu.tw/handle/82464188653677395622 The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio 基金經理人更換對績效、風險與週轉率的影響 Ying-Cyue Hu 胡煐雀 碩士 大葉大學 管理學院碩士在職專班 103 The public have various ways of making financial investments and mutual funds are one such popular approach. The majority like to use mutual funds because the fund manager can employ his professional research team to collect useful information to select a target and make capital gains. However, fund managers are frequently replaced. Therefore, this study aims to explore the influence of fund manager replacement in terms of fund performance, risks and turnover ratio. The study adopted the t-test and multiple regression methods and collected Taiwanese open-ended equity funds data from 2011 to 2013. The findings confirm that mutual fund performance is worse but the risks and turnover ratio are lower in those situations where mutual fund managers are frequently replaced. Therefore, replacement of mutual fund managers is not the best way to improve fund performance. The study suggests that future research could explore other key factors which might improve mutual fund performance. Key words: Fund Manager, Manager’s Replacement, T-Test, Multiple Regression Sheng-Ching Wu Lun-Min Shin 吳勝景 施倫閔 2014 學位論文 ; thesis 34 zh-TW |
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碩士 === 大葉大學 === 管理學院碩士在職專班 === 103 === The public have various ways of making financial investments and mutual funds are one such popular approach. The majority like to use mutual funds because the fund manager can employ his professional research team to collect useful information to select a target and make capital gains. However, fund managers are frequently replaced. Therefore, this study aims to explore the influence of fund manager replacement in terms of fund performance, risks and turnover ratio.
The study adopted the t-test and multiple regression methods and collected Taiwanese open-ended equity funds data from 2011 to 2013. The findings confirm that mutual fund performance is worse but the risks and turnover ratio are lower in those situations where mutual fund managers are frequently replaced. Therefore, replacement of mutual fund managers is not the best way to improve fund performance. The study suggests that future research could explore other key factors which might improve mutual fund performance.
Key words: Fund Manager, Manager’s Replacement, T-Test, Multiple Regression
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author2 |
Sheng-Ching Wu |
author_facet |
Sheng-Ching Wu Ying-Cyue Hu 胡煐雀 |
author |
Ying-Cyue Hu 胡煐雀 |
spellingShingle |
Ying-Cyue Hu 胡煐雀 The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
author_sort |
Ying-Cyue Hu |
title |
The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
title_short |
The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
title_full |
The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
title_fullStr |
The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
title_full_unstemmed |
The Effect of Fund Manager’s Replacement on Fund Performance, Risk, and Turnover Ratio |
title_sort |
effect of fund manager’s replacement on fund performance, risk, and turnover ratio |
publishDate |
2014 |
url |
http://ndltd.ncl.edu.tw/handle/82464188653677395622 |
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