![](images/graphics/blank.gif)
Doctoral thesis of Philosophy: A comprehensive study on the performance of Hong Kong Mandatory Provident Funds (MPF)
9
lượt xem 2
download
lượt xem 2
download
![](https://tailieu.vn/static/b2013az/templates/version1/default/images/down16x21.png)
This thesis represents the first comprehensive study on the performance (raw and risk-adjusted), performance persistence, and market timing ability of the equity funds in Hong Kong Mandatory Provident Funds (MPF) scheme during the period 2001 – 2004. Regardless of the measure used (Jensen single-index alpha measure, Fama-French three-factor alpha measure, and modified Jensen alpha controlled by changes in exchange rates), US equity funds and Pacific-Basin excluding Japan equity funds, are found to consistently underperform relative to the market.
Chủ đề:
Bình luận(0) Đăng nhập để gửi bình luận!
![](images/graphics/blank.gif)
CÓ THỂ BẠN MUỐN DOWNLOAD