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Ratings and Performance of German Mutual Funds – A Comparison of Feri Trust, Finanztest and FondsNote
Meinhardt, Christian - 2014
This study addresses the question whether the Feri Trust Rating, the Finanztest-Bewertung and the FondsNote are able to predict the future performance of German equity mutual funds. Moreover, this study analyzes whether predictability is improved significantly when combining the three fund...
Persistent link: https://www.econbiz.de/10013067295
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On Market Timing, Stock Picking, and Managerial Skills of Mutual Fund Managers with Manipulation-Proof Performance Measure
Qian, Meifen - 2014
The on-going debate over whether fund managers have skills and whether those skills are short-lived is still inconclusive. Using the performance measure that can't be manipulated with respect to the underlying distribution, time variation, nor estimation error, (the manipulation-proof...
Persistent link: https://www.econbiz.de/10013057175
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Return differences between DAX ETFs and the benchmark DAX
Schmidhammer, Christoph - 2021
For the DAX index market, this paper analyses the development of return differences between exchange traded funds (ETFs) and the DAX index from the perspective of long-term investors. The newly introduced methodology provides the opportunity to continuously identify long-term costs of passively...
Persistent link: https://www.econbiz.de/10012607112
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An analysis of private investors' stock market return forecasts
Theissen, Erik - 2005
those entered on weekdays. Implied returns are not consistently related to the weather conditions on the day the forecast …
Persistent link: https://www.econbiz.de/10009524805
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Implied rates of return, the discount rate effect, and market risk premia
Breuer, Wolfgang; Gürtler, Marc - 2010 - This Version: 2010-10-22
We show analytically under quite general conditions that implied rates of return based on analysts' earnings forecasts are only a downward biased estimator for future expected one-period returns and therefore not suited for computing market risk premia. The extent of this bias is substantial as...
Persistent link: https://www.econbiz.de/10009487229
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Can the Forecasts Generated from E/P Ratio and Bond Yield be Used to Beat Stock Markets?
Wong, Wing-Keung - 2013
This study tests the performance of stock market forecasts derived from technical analysis by means of a specific indicator. The indicator is computed from E/P ratios and bond yields. Several stock markets are studied over a 20-year period. Two test statistics are introduced to utilize the...
Persistent link: https://www.econbiz.de/10013088794
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Can the Forecasts Generated from E/P Ratio and Bond Yield Be Used to Beat Stock Markets?
Wong, Wing-Keung - 2016
This paper tests the performance of stock market forecasts derived from technical analysis by means of a specific indicator. The indicator is computed from E/P ratios and bond yields. Several stock markets are studied over a 20-year period. Two test statistics are introduced to utilize the...
Persistent link: https://www.econbiz.de/10013004301
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Influence of Dividends on the Earnings Informativeness : Empirical Evidence in the BM & FBOVESPA
Brugni, Talles Vianna - 2013
In this study we verify if payment of dividends increases the earnings informativeness of firms listed on the São Paulo Stock Exchange (BOVESPA). The study is based on the paper of Francis, Schipper and Vincent (2005), and adds an interaction variable between earnings and dividends in order to...
Persistent link: https://www.econbiz.de/10013092395
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Long-Term Information in the Decision to Provide a Short-Term Forecast
Heinle, Mirko Stanislav; Kim, Chongho; Taylor, Daniel J.; … - 2021
Several recent empirical papers assert that the decision to disclose an earnings forecast shortly before the actual … dynamic model of voluntary disclosure, we show that the decision to disclose a short-term earnings forecast reveals managers … decision to disclose a short-term earnings forecast predicts earnings three years beyond the forecasted period, and that the …
Persistent link: https://www.econbiz.de/10013245221
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Financial analysts' forecasts and unprecedented events : the case of German reunification
Ghani, Waqar I.; Szewczyk, Samuel Hideyo; Shabbir, Tayyeb - In: International advances in economic research : IAER ; an … 13 (2007) 2, pp. 123-138
Persistent link: https://www.econbiz.de/10003787737