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On timing ability in Australian managed funds.
- Source :
- Australian Journal of Management (Sage Publications Ltd.); Feb2014, Vol. 39 Issue 1, p93-106, 14p
- Publication Year :
- 2014
-
Abstract
- This paper investigates the timing abilities of Australian managed fund managers. To examine timing abilities, the cross-sectional bootstrap approach is adopted to determine whether timing ability is due to skill or luck. Based on three alternative timing measures, we find that top-ranked Australian fund managers have genuine timing abilities. In addition, the poor timing ability with bottom-ranked funds is not likely to be due to luck either, implying that the market exposure of some Australian managed funds is mistakenly adjusted when the stock market improves. [ABSTRACT FROM AUTHOR]
- Subjects :
- INVESTMENT advisors
MARKET timing
STATISTICAL bootstrapping
STOCK exchanges
FORTUNE
Subjects
Details
- Language :
- English
- ISSN :
- 03128962
- Volume :
- 39
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Australian Journal of Management (Sage Publications Ltd.)
- Publication Type :
- Academic Journal
- Accession number :
- 94358850
- Full Text :
- https://doi.org/10.1177/0312896212468455