Implied Measures of Relative Fund Performance
We evaluate the relative performance of funds by conditioning their returns on the cross-section of portfolio characteristics across fund managers. Our implied procedure circumvents the need to specify benchmark returns or peer funds. Instead, fund-specific benchmarks for measuring selection and mar...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2005
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/1890 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2889/viewcontent/WarachkaM2005EFA.pdf |
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| Institution: | Singapore Management University |
| Language: | English |