This paper uses stochastic dominance techniques to examine whether managerial skills vary across fund managers in European equity funds. The use of these techniques allows us to compare different investment alternatives in an uncertain setting under very simple assumptions regarding investor...

In this paper we separate the total stock return into its continuous and jump component to test whether stock return predictability should be attributed to omitted risk factors or behavioral finance theories. We extend results from the US market to the Spanish stock market, which, despite being...