This study performs an out-of-sample test on momentum effects in nine Asian-Pacific stock markets from 1990 to 2002. We find little evidence on the existence of intermediate stocks return momentum. Specifically, the unrestricted momentum trading strategies appear profitable only in major...

Purpose – The purpose of this paper is to investigate whether mutual fund investors can make effective cash flow timing decisions and examine the sensitivity of these decisions to past fund performance using cash flow data at the individual fund level.Design/Methodology/Approach – This study...