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アイテム
Country and Industry Concentration and the Performance of International Mutual Funds
https://iuj.repo.nii.ac.jp/records/497
https://iuj.repo.nii.ac.jp/records/4972b5fc317-1a4d-4fde-b170-00f117fa9390
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
EMS_2013_12 (808.9 kB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2013-09-01 | |||||
| タイトル | ||||||
| タイトル | Country and Industry Concentration and the Performance of International Mutual Funds | |||||
| タイトル | ||||||
| タイトル | Country and Industry Concentration and the Performance of International Mutual Funds | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Portfolio Concentration | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | International Mutual Funds | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Portfolio Concentration | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | International Mutual Funds | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
| 資源タイプ | departmental bulletin paper | |||||
| 著者 |
平木, 多賀人
× 平木, 多賀人× Liu, Ming× Wang, Xue× Hiraki, Takato× Liu, Ming× Wang, Xue |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | We examine the relationship between portfolio country versus industry concentration and performance using a hand-matched data set of international equity funds. When sorted by concentration measures, funds in the most concentrated quintile outperform the diversified quintile by 0.16% and 0.30% monthly in country and industry dimensions, respectively. Further analysis shows that the superior performance of concentrated funds is largely driven by industry rather than country concentration, suggesting the existence of global industry private information. Finally, we show that industry-concentrated funds rotate top-holding industries less frequently than their diversified counterparts and the industries they purchase subsequently outperform the industries they sell. | |||||
| 書誌情報 |
en : Economics & Management Series 発行日 2013-09-01 |
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