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explains the negative relation between idiosyncratic volatility (IVOL) and average return. The IVOL effect is negative among …
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arbitrage risk represented by idiosyncratic volatility (IVOL) explains the negative relation between IVOL and average return …
Persistent link: https://www.econbiz.de/10012857186
explains the negative relation between idiosyncratic volatility (IVOL) and average return. The IVOL effect is negative among …
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We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of decreasing returns at the industry level: As the size of the active mutual fund industry increases, a fund's ability to outperform passive benchmarks declines. At the fund level,...
Persistent link: https://www.econbiz.de/10013006184
We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of decreasing returns at the industry level: As the size of the active mutual fund industry increases, a fund's ability to outperform passive benchmarks declines. At the fund level,...
Persistent link: https://www.econbiz.de/10012856954