Kang, Jangkoo; Lee, Changjun; Lee, Doowon - In: Emerging Markets Finance and Trade 47 (2011) 3, pp. 111-135
Using a comprehensive database on equity funds in Korea, we investigate the performance and performance persistence with investment style employing the Fama and French three-factor model and the Carhart four-factor model. The paper finds that most investment styles in Korea noticeably outperform...