BUSSE, JEFFREY A.; GOYAL, AMIT; WAHAL, SUNIL - In: Journal of Finance 65 (2010) 2, pp. 765-790
Using new, survivorship bias-free data, we examine the performance and persistence in performance of 4,617 active domestic equity institutional products managed by 1,448 investment management firms between 1991 and 2008. Controlling for the <link rid="b18">Fama-French (1993)</link> three factors and momentum,...