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Enrique Rafael González Pozo
This paper?s objective is to demystify the world of investing, first by showing and exposing the results the greatest money managers in the Wall Street have obtained over the last years compared to the performance of their benchmark indexes. Index invest...
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Colin Firer,Paula Gray,Merle Sandler,Mike Ward
AbstractThe article reports the results of an investigation into the level of predictive accuracy required to benefit from a market-timing strategy using unit trusts as the investment medium. Three unit trusts within the same management company were used...
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Sibel Çelik,Yasemin Deniz Akarim
Pág. 140 - 152
The purpose of this study is to test how equity market timing affects capital structure from the perspective of IPO (Initial Public Offering) event in ISE for the period between 1999-2008. Our dataset comprises of all firms (75 firms) that went public fr...
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Mariana Aparecida Calabrez Oreng,William Eid Junior,Claudia Emiko Yoshinaga
Pág. 314 - 325
This study investigates whether managers of Fixed Income Brazilian funds exhibit market-timing abilities and what are the main components driving a fund?s return. Measuring timing ability of Fixed Income funds? managers has a lot to do with their ability...
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Prof. Dr. Abdul Ghafoor Awan, Prof. Dr ZahirFaridi, Abdullahi ShahbazAnwer Ghaz
Pág. 2694 - 2701
Capital structure is one of the most complex areas of financial decision making because of its inter-relationship with other financial decision variables. Poor capital structure decisions can result in a high cost of capital which decreases the value of ...
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Andreia Carpes Dani,Daniel Padilha,Cleston Alexandre dos Santos,Paulo Sérgio Almeida-Santos
Pág. 143 - 159
Recent studies about finance literature, have been dedicated to investigate the relation of market timing and the capital structure, revealing that the effects are not very persistent as time passes, although the tendency of these companies of increasing...
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José Luiz Rossi Jr.,Marcelo Marotta
Pág. 85 - 101
This paper analyzes whether the behavior related to the equity market timing affected the recent IPO wave of Brazilian firms and exerted an impact on companies'capital structure. Using data from january 2004 to december 2007 the paper classifies the mont...
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Ney Roberto Ottoni de Brito,Alexandre Bona,Affonso Tarciro, Jr.
Pág. pp. 119 - 136
Active funds are typically managed by placing bets against a well defined passive bench-mark. In this context, when examining the launching of a new actively managed fund with a target expected excess rate of return relative to the benchmark equal to µ, ...
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Ney Roberto Ottoni de Brito
Pág. pp. 1 - 17
MERTON (1981) examines the creation of value by fund managers selecting between stocks and fixed income instruments through market timing. HENRIKSON and MERTON (1981) proceed to propose empirical tests of funds and manager performance in market timing. B...
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Priscilla Yung Medeiros
Pág. pp. 45 - 87
An investment opportunity in the real state market can be compared with an option and, because of this analogy, we can make use of the real options theory to determinate not only the best timing to begin a new property development, but also to determine ...
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M. Dumont De Chassart,C. Firer
AbstractThis study evaluates the performance of traditional timing, bull timing (holding the risk-free asset and buying call options to take advantage of expected market rises) and bear timing (holding the market index and buying put options ahead of exp...
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Gary J. Brunswick, Brian Gnauck, Raymond Amtmann, Samuel P. Graci
This case focuses on a unique and often overlooked product market sporting event timing systems and supplies and involves a Japanese manufacturer of radio frequency identification (RFID)-based timing systems called Micro Talk Systems or MTS. Some of th...
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Meadhbh Sherman, Niall O?Sullivan and Jun Gao
This study examines the market-timing performance of Chinese equity securities investment funds during the period from May 2003 to May 2014 using the parametric tests of Treynor?Mazuy and Henriksson?Merton as well as the Jiang non-parametric test. Based ...
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Meadhbh Sherman, Niall O?Sullivan and Jun Gao
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John Muteba Mwamba
This paper investigates the persistence of hedge fund managers skills during periods of boom and/or recession. We consider a data set of monthly investment strategy indices published by Hedge Fund Research group. The data set spans from January 1995 to J...
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Ramzi Drissi,Tarek Ghazouani,Assaad Ghazouani
Pág. 923 - 931
This work focuses on the study of the determinants of capital structure in the context of the "Market Timing" theory in a sample of 20 Tunisian firms listed on the Tunis Stock Exchange during the period 2004-2010. The empirical analysis shows that the re...
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Marc Dumont De Chassart,Colin Firer,Wendy Grantham,Simon Hill,Mark Pryce,Ian Rudden
AbstractThe objective of the study was to investigate the gains from market timing strategies using derivatives during a period when the return on the market was below that of the risk-free asset (a so-called bear period). It was found that perfect timer...
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Marc Dumont De Chassart,Colin Firer,Wendy Grantham,Simon Hill,Mark Pryce,Ian Rudden
AbstractThe objective of the study was to investigate the gains from market timing strategies using derivatives during a period when the return on the market was below that of the risk-free asset (a so-called bear period). It was found that perfect timer...
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Davinder K. Malhotra, Tim Mooney, Raymond Poteau and Philip Russel
In this study, we provide a comprehensive examination of the performance of financial (specialty sector financial) mutual funds over a 23-year period, a much longer time frame than what has been analyzed in previous literature. To fully understand the pe...
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Loc Dong Truong,H. Swint Friday
Pág. 28 - 34
This analysis investigates the influence of the timing of the Lunar New Year on the January effect for the Vietnam stock market. The data selected for this study is a weekly series of the market index (VN-Index) over the period from January 7th, 2009 thr...
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