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      • Faculty of Economics, Administrative And Social Sciences
      • Department of Economics
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      Assessing selectivity and market timing performance of mutual funds for an emerging market: the case of Turkey

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      Author(s)
      İmişiker, S.
      Özlale, Ü.
      Date
      2008
      Source Title
      Emerging Markets Finance and Trade
      Print ISSN
      1540-496X
       
      1558-0938
       
      Publisher
      Routledge
      Volume
      44
      Issue
      2
      Pages
      87 - 99
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      This paper derives and analyzes the selectivity and market timing performance of the mutual funds for the Turkish economy for the financial crisis period by employing high-frequency data. The determinants of these derived abilities are investigated within a regression analysis. The results suggest weak evidence about selection ability and some evidence about superior market timing quality. They also indicate that management fees are negatively correlated with the ability measure, which is quite surprising. Experience emerges as an important factor, especially for market timing ability. Copyright © 2008 M.E. Sharpe, Inc. All rights reserved.
      Keywords
      Emerging markets
      Mutual funds
      Selectivity and market timing ability
      Permalink
      http://hdl.handle.net/11693/23177
      Published Version (Please cite this version)
      http://doi.org/10.2753/REE1540-496X440205
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      • Department of Economics 667
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