In the present study, we confirm the asymmetry of the performance-flow relationship documented in the literature, but with the particularities of the sample of Spanish funds. Thus, we conclude that mid-performers show no significant influence on investor decisions. The panel data analysis also...

This paper describes a financial study of performance persistence in a set of Spanish investment funds targeting short-term fixed-income securities. In view of the nature of the funds and market considered, it is therefore a completely new study. The data base is free of survivorship...

The performance of Spanish domestic equities improves considerably when diverse public information variables are taken into consideration. We have taken up to 8 independent variables into consideration to evaluate the performance of a largely unexplored market over a broad horizon

This paper contains a preliminary financial analysis of the performance of a group of portfolios based on Sharpe's ratio and a variant thereof, which provides a more appropriate ranking while remaining true to the traditional measure. The main thrust of the financial analysis contained in the...

We analyze what a second business degree reveals about the investment behavior of mutual fund managers. Specifically, we compare investment risk and style of managers with both a CFA designation and an MBA degree to managers with only one of these qualifications. We document that managers with...

The measuring of market timing abilities in investment portfolios is a relevant and widely analyzed question. Since the traditional parametric methodology can lead to biased results, we apply the nonparametric approach trying to overcome these biases and compare the results obtained by both...

We analyze what a second business degree reveals about the investment behavior of professional investors. Specifically, we compare performance, risk, and style of equity mutual fund managers having a CFA designation and an MBA degree to managers with only one of these qualifications. We document...