Discussion  

Oleh:

Moskowitz, Tobias J.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 55 no. 4 (2000), page 1695-1704.
Topik: DISCUSSION; discussion
Fulltext: p 1695.pdf (67.17KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The current paper by wemers is perhaps the most comprehensice and detailed study of mutual fund performance to date. The empirical literature on active management ability has found somewhat disparate results. Studies by jnsen (1968), malkiel (1995), gruber (1996), and carhart (1997), for instance, find that active managers fail to outperform passive benchmark portfolios andin many cases underperform passice indices, even before expenses. Taking into account expenses and transaction costs incurred from active management, these results indicate that active managers actually destroy value suggesting that investors are better off holding broad market indices ...

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