Individual Fund Manager Sentiment, Fund Performance and Performance Persistence

Cilt: 4 Sayı: 4 1 Aralık 2014
  • Ying-Fen Fu
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Individual Fund Manager Sentiment, Fund Performance and Performance Persistence

Abstract

This study contributes to the literature by examining the relation among fund performance, performance persistence and individual fund manager sentiment, rather than the fund industry sentitment. This study employs the turnover rate as the proxy of individual fund manager sentiment. Using the one and two-way sorting methods and the panel data regression analysis, this study finds that the equity funds in Taiwan have performance persistence in the both short and long run. We find the funds with a higher turnover rate (i.e., higher fund managers’ sentiment) perform better no matter they are in the winner or loser groups. This phenomenon persists both in the short- and long-terms, which implies the influence of sentiment on the performance is persistent. The investors should choose winner funds due to their persistence, and choose those whose turnover rate is in top 40% of the winners.

Keywords

Ayrıntılar

Birincil Dil

İngilizce

Konular

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Bölüm

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Yazarlar

Ying-Fen Fu Bu kişi benim

Yayımlanma Tarihi

1 Aralık 2014

Gönderilme Tarihi

1 Aralık 2014

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2014 Cilt: 4 Sayı: 4

Kaynak Göster

APA
Fu, Y.-F. (2014). Individual Fund Manager Sentiment, Fund Performance and Performance Persistence. International Journal of Economics and Financial Issues, 4(4), 870-885. https://izlik.org/JA84UW39EW
AMA
1.Fu YF. Individual Fund Manager Sentiment, Fund Performance and Performance Persistence. IJEFI. 2014;4(4):870-885. https://izlik.org/JA84UW39EW
Chicago
Fu, Ying-Fen. 2014. “Individual Fund Manager Sentiment, Fund Performance and Performance Persistence”. International Journal of Economics and Financial Issues 4 (4): 870-85. https://izlik.org/JA84UW39EW.
EndNote
Fu Y-F (01 Aralık 2014) Individual Fund Manager Sentiment, Fund Performance and Performance Persistence. International Journal of Economics and Financial Issues 4 4 870–885.
IEEE
[1]Y.-F. Fu, “Individual Fund Manager Sentiment, Fund Performance and Performance Persistence”, IJEFI, c. 4, sy 4, ss. 870–885, Ara. 2014, [çevrimiçi]. Erişim adresi: https://izlik.org/JA84UW39EW
ISNAD
Fu, Ying-Fen. “Individual Fund Manager Sentiment, Fund Performance and Performance Persistence”. International Journal of Economics and Financial Issues 4/4 (01 Aralık 2014): 870-885. https://izlik.org/JA84UW39EW.
JAMA
1.Fu Y-F. Individual Fund Manager Sentiment, Fund Performance and Performance Persistence. IJEFI. 2014;4:870–885.
MLA
Fu, Ying-Fen. “Individual Fund Manager Sentiment, Fund Performance and Performance Persistence”. International Journal of Economics and Financial Issues, c. 4, sy 4, Aralık 2014, ss. 870-85, https://izlik.org/JA84UW39EW.
Vancouver
1.Ying-Fen Fu. Individual Fund Manager Sentiment, Fund Performance and Performance Persistence. IJEFI [Internet]. 01 Aralık 2014;4(4):870-85. Erişim adresi: https://izlik.org/JA84UW39EW