Why Do Investors Buy Shares of Actively Managed Equity Mutual Funds? Considering the Correct Reference Portfolio from an Uninformed Investor’s Perspective

Burlacu, Radu; Fontaine, Patrice; Jimenez-Garcès, Sonia

doi:10.3917/fina.pr.016

Public

Why Do Investors Buy Shares of Actively Managed Equity Mutual Funds? Considering the Correct Reference Portfolio from an Uninformed Investor’s Perspective

Shared by NobleBlocks on Dec 13, 2022 • 12:00 AM UTC

Authors:

Radu Burlacu

Patrice Fontaine

Sonia Jimenez-Garcès

Abstract

Nous utilisons le modèle de Grossman & Stiglitz (1980) pour construire un portefeuille de référence pour les investisseurs non informés et nous utilisons ce portefeuille pour évaluer la performance des fonds communs de placement en actions, gérés activement. Nous proposons une méthodologie empirique...

Subject

Humanities

Political science

Mathematics

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