Investigating key funds characteristics influencing their investment performance in Saudi Arabia: A dynamic panel data approach
| العنوان: | Investigating key funds characteristics influencing their investment performance in Saudi Arabia: A dynamic panel data approach |
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| المؤلفون: | Wafa Ghardallou, Razan Alshebel, Samira Ben Belgacem |
| المصدر: | Investment Management & Financial Innovations, Vol 18, Iss 2, Pp 298-311 (2021) |
| بيانات النشر: | LLC "CPC "Business Perspectives", 2021. |
| سنة النشر: | 2021 |
| مصطلحات موضوعية: | Economics and Econometrics, 050208 finance, Index (economics), emerging markets, business.industry, Strategy and Management, fund age, 05 social sciences, Accounting, 0502 economics and business, HG1-9999, Key (cryptography), LPM alpha, LPM-Sharpe ratio, Business and International Management, business, Publication, Investment performance, 050203 business & management, management fee, Finance, Panel data, fund size |
| الوصف: | The study examines if specific characteristics of funds influence the performance of Saudi equity mutual funds. Previous research has explored various aspects of mutual funds. However, the Saudi Arabia literature focuses on evaluating the funds’ performance. Hence, this study seeks to close this gap by providing a framework to explain the equity fund performance. Several risks adjusted performance measures are applied such as Jensen’s alpha, lower partial moment alpha, Sharpe ratio, LPM-Sharpe ratio using the dynamic panel specification over the period 2010–2019. Based on the LPM alpha, the risk-adjusted return analysis reveals that the Saudi equity funds outperformed their benchmark over the full sample period. The empirical results show that major fund-specific characteristics such as fund size, past performance, and flow explain future performance. Besides, the evidence confirms that Saudi funds benefit from the economies of scale and expertise, while funds requiring higher levels of initial investment tend to exhibit lower performance levels. These findings provide investors and fund managers with useful information to make the optimal investment decisions in the mutual fund industry. |
| اللغة: | English |
| تدمد: | 1812-9358 1810-4967 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::7bc5f43572c2b87d7d0c8a1624244e83 https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15171/IMFI_2021_02_Belgacem.pdf |
| Rights: | OPEN |
| رقم الانضمام: | edsair.doi.dedup.....7bc5f43572c2b87d7d0c8a1624244e83 |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 18129358 18104967 |
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