Performance persistence of mutual funds: evidence from Bangladesh
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Independent Journal of Management & Production |
Texto Completo: | http://www.ijmp.jor.br/index.php/ijmp/article/view/1118 |
Resumo: | Purpose: Since 1990s, the discussion on whether mutual funds can perform better and persistently as compare to market has become an ongoing issue. Current research investigates the performance persistence of equity mutual funds’, particularly in the financial market of Bangladesh.Theoretical Framework: Different researchers have strived to examine the performance of mutual funds by using numerous performance indicators and risk adjustment techniques.Design/Methodology/Approach: The equity mutual funds data for this study are obtained from DSE (Dhaka Stock Exchange) database. The sample set includes all open-end mutual funds from 2010 to 2015. There is no mutual fund that has ceased trade or merged with other mutual funds during the study period.Originality/Value: Broad literature have been directed on the performance and persistence of mutual funds in the American markets, while some of the studies also centered on Australia, China, Hong Kong and U.K. financial markets. However, in the context of Bangladesh’s financial market, no identical research has been carried on the performance persistence of mutual funds.Findings: The results reveal that the managers of equity mutual funds have selective ability to obtain higher returns in Bangladesh. Moreover, the past performance of mutual funds has an impact on their future performance. The size of mutual funds doesn’t have any impact on their performance. The parametric and non-parametric models demonstrate that as compare to long run, equity mutual funds in Bangladesh could perform persistently in the short-run. |
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Independent Journal of Management & Production |
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Performance persistence of mutual funds: evidence from BangladeshMutual FundsFund SizePast PerformanceSelective AbilityPerformance PersistencePurpose: Since 1990s, the discussion on whether mutual funds can perform better and persistently as compare to market has become an ongoing issue. Current research investigates the performance persistence of equity mutual funds’, particularly in the financial market of Bangladesh.Theoretical Framework: Different researchers have strived to examine the performance of mutual funds by using numerous performance indicators and risk adjustment techniques.Design/Methodology/Approach: The equity mutual funds data for this study are obtained from DSE (Dhaka Stock Exchange) database. The sample set includes all open-end mutual funds from 2010 to 2015. There is no mutual fund that has ceased trade or merged with other mutual funds during the study period.Originality/Value: Broad literature have been directed on the performance and persistence of mutual funds in the American markets, while some of the studies also centered on Australia, China, Hong Kong and U.K. financial markets. However, in the context of Bangladesh’s financial market, no identical research has been carried on the performance persistence of mutual funds.Findings: The results reveal that the managers of equity mutual funds have selective ability to obtain higher returns in Bangladesh. Moreover, the past performance of mutual funds has an impact on their future performance. The size of mutual funds doesn’t have any impact on their performance. The parametric and non-parametric models demonstrate that as compare to long run, equity mutual funds in Bangladesh could perform persistently in the short-run.Independent2020-10-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdftext/htmlhttp://www.ijmp.jor.br/index.php/ijmp/article/view/111810.14807/ijmp.v11i6.1118Independent Journal of Management & Production; Vol. 11 No. 6 (2020): Independent Journal of Management & Production; 1739-17592236-269X2236-269Xreponame:Independent Journal of Management & Productioninstname:Instituto Federal de Educação, Ciência e Tecnologia de São Paulo (IFSP)instacron:IJM&Penghttp://www.ijmp.jor.br/index.php/ijmp/article/view/1118/1444http://www.ijmp.jor.br/index.php/ijmp/article/view/1118/1445Copyright (c) 2020 Mohammad Abir Shahid Chowdhury, Zahid Ali, Muhammad Usman, Asad Ullahinfo:eu-repo/semantics/openAccessShahid Chowdhury, Mohammad AbirAli, ZahidUsman, MuhammadUllah, Asad2020-10-01T03:24:49Zoai:www.ijmp.jor.br:article/1118Revistahttp://www.ijmp.jor.br/PUBhttp://www.ijmp.jor.br/index.php/ijmp/oaiijmp@ijmp.jor.br||paulo@paulorodrigues.pro.br||2236-269X2236-269Xopendoar:2020-10-01T03:24:49Independent Journal of Management & Production - Instituto Federal de Educação, Ciência e Tecnologia de São Paulo (IFSP)false |
dc.title.none.fl_str_mv |
Performance persistence of mutual funds: evidence from Bangladesh |
title |
Performance persistence of mutual funds: evidence from Bangladesh |
spellingShingle |
Performance persistence of mutual funds: evidence from Bangladesh Shahid Chowdhury, Mohammad Abir Mutual Funds Fund Size Past Performance Selective Ability Performance Persistence |
title_short |
Performance persistence of mutual funds: evidence from Bangladesh |
title_full |
Performance persistence of mutual funds: evidence from Bangladesh |
title_fullStr |
Performance persistence of mutual funds: evidence from Bangladesh |
title_full_unstemmed |
Performance persistence of mutual funds: evidence from Bangladesh |
title_sort |
Performance persistence of mutual funds: evidence from Bangladesh |
author |
Shahid Chowdhury, Mohammad Abir |
author_facet |
Shahid Chowdhury, Mohammad Abir Ali, Zahid Usman, Muhammad Ullah, Asad |
author_role |
author |
author2 |
Ali, Zahid Usman, Muhammad Ullah, Asad |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Shahid Chowdhury, Mohammad Abir Ali, Zahid Usman, Muhammad Ullah, Asad |
dc.subject.por.fl_str_mv |
Mutual Funds Fund Size Past Performance Selective Ability Performance Persistence |
topic |
Mutual Funds Fund Size Past Performance Selective Ability Performance Persistence |
description |
Purpose: Since 1990s, the discussion on whether mutual funds can perform better and persistently as compare to market has become an ongoing issue. Current research investigates the performance persistence of equity mutual funds’, particularly in the financial market of Bangladesh.Theoretical Framework: Different researchers have strived to examine the performance of mutual funds by using numerous performance indicators and risk adjustment techniques.Design/Methodology/Approach: The equity mutual funds data for this study are obtained from DSE (Dhaka Stock Exchange) database. The sample set includes all open-end mutual funds from 2010 to 2015. There is no mutual fund that has ceased trade or merged with other mutual funds during the study period.Originality/Value: Broad literature have been directed on the performance and persistence of mutual funds in the American markets, while some of the studies also centered on Australia, China, Hong Kong and U.K. financial markets. However, in the context of Bangladesh’s financial market, no identical research has been carried on the performance persistence of mutual funds.Findings: The results reveal that the managers of equity mutual funds have selective ability to obtain higher returns in Bangladesh. Moreover, the past performance of mutual funds has an impact on their future performance. The size of mutual funds doesn’t have any impact on their performance. The parametric and non-parametric models demonstrate that as compare to long run, equity mutual funds in Bangladesh could perform persistently in the short-run. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-10-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://www.ijmp.jor.br/index.php/ijmp/article/view/1118 10.14807/ijmp.v11i6.1118 |
url |
http://www.ijmp.jor.br/index.php/ijmp/article/view/1118 |
identifier_str_mv |
10.14807/ijmp.v11i6.1118 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
http://www.ijmp.jor.br/index.php/ijmp/article/view/1118/1444 http://www.ijmp.jor.br/index.php/ijmp/article/view/1118/1445 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2020 Mohammad Abir Shahid Chowdhury, Zahid Ali, Muhammad Usman, Asad Ullah info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2020 Mohammad Abir Shahid Chowdhury, Zahid Ali, Muhammad Usman, Asad Ullah |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf text/html |
dc.publisher.none.fl_str_mv |
Independent |
publisher.none.fl_str_mv |
Independent |
dc.source.none.fl_str_mv |
Independent Journal of Management & Production; Vol. 11 No. 6 (2020): Independent Journal of Management & Production; 1739-1759 2236-269X 2236-269X reponame:Independent Journal of Management & Production instname:Instituto Federal de Educação, Ciência e Tecnologia de São Paulo (IFSP) instacron:IJM&P |
instname_str |
Instituto Federal de Educação, Ciência e Tecnologia de São Paulo (IFSP) |
instacron_str |
IJM&P |
institution |
IJM&P |
reponame_str |
Independent Journal of Management & Production |
collection |
Independent Journal of Management & Production |
repository.name.fl_str_mv |
Independent Journal of Management & Production - Instituto Federal de Educação, Ciência e Tecnologia de São Paulo (IFSP) |
repository.mail.fl_str_mv |
ijmp@ijmp.jor.br||paulo@paulorodrigues.pro.br|| |
_version_ |
1797220492786008064 |