Cheng, Louis T.; Pi, Lynn K.; Wort, Don - In: Journal of Business Finance & Accounting 26 (1999-01) 1-2, pp. 103-135
This paper examines the short-term performance persistence of thirty-two fund houses in Hong Kong during January 1986 to December 1995. We compute fund house returns using averages of all equity funds in each house. Then we evaluate their hot hand performance using the median return as benchmark...