Equity fund style and performance persistence in an emerging market: evidence from Korea

Title: Equity fund style and performance persistence in an emerging market: evidence from Korea
Creator: Kang, Jangkoo; Lee, Changjun; Lee, Doowon
Relation: Asian Finance Association 2009 International Conference. Asian Finance Association 2009 International Conference: Conference Program (Brisbane, Qld 30 June - 3 July, 2009)
Relation: http://www.asian-fa.org/node/3
Publisher: Asian Finance Association
Resource Type: conference paper
Date: 2009
Description: We investigate the investment styles and performance persistence of equity funds in Korea employing the Fama and French three-factor model (1993) as well as the Carhart four-factor model (1997). Unlike the evidence from the US, our study of performance and performance persistence reveals that most equity funds in Korea perform better than the overall stock market and positive performance that did exist does persist. Our style analysis shows that while investment styles of equity funds generally stay around the overall stock market index, equity funds have a tilt toward large stocks and growth stocks.
Subject: equity fund performance; investment style; style analysis; asset allocation
Identifier: uon:9004
Identifier: http://hdl.handle.net/1959.13/919874
Full Text
Reviewed

		Thumbnail	File	Description	Size	Format
View Details Download			ATTACHMENT01	Publisher version (open access)	320 KB	Adobe Acrobat PDF	View Details Download