Sohn, Pando; Seo, Ji-Yong - In: Estudios de Economía 42 (2015) 1, pp. 21-51
This paper investigates two issues: whether there is heterogeneity for fund managers as investors and whether there is asymmetric volatility under short-sale constraints. If so, what are the driving factors in the Korean fund market? Fund return data from 2002 to 2008 are used to determine these...