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  • On timing ability in Australian managed funds

    Author(s)
    In, Francis H.
    Kim, Sangbae
    Ji, Philip Inyeob
    Griffith University Author(s)
    In, Francis H.
    Year published
    2014
    Metadata
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    Abstract
    This paper investigates the timing abilities of Australian managed fund managers. To examine timing abilities, the cross-sectional bootstrap approach is adopted to determine whether timing ability is due to skill or luck. Based on three alternative timing measures, we find that top-ranked Australian fund managers have genuine timing abilities. In addition, the poor timing ability with bottom-ranked funds is not likely to be due to luck either, implying that the market exposure of some Australian managed funds is mistakenly adjusted when the stock market improves.This paper investigates the timing abilities of Australian managed fund managers. To examine timing abilities, the cross-sectional bootstrap approach is adopted to determine whether timing ability is due to skill or luck. Based on three alternative timing measures, we find that top-ranked Australian fund managers have genuine timing abilities. In addition, the poor timing ability with bottom-ranked funds is not likely to be due to luck either, implying that the market exposure of some Australian managed funds is mistakenly adjusted when the stock market improves.
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    Journal Title
    Australian Journal of Management
    Volume
    39
    Issue
    1
    DOI
    https://doi.org/10.1177/0312896212468455
    Subject
    Banking, Finance and Investment not elsewhere classified
    Commerce, Management, Tourism and Services
    Publication URI
    http://hdl.handle.net/10072/336471
    Collection
    • Journal articles

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