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2017 | OriginalPaper | Buchkapitel

2. Review of Literature

verfasst von : Dr. G. V. Satya Sekhar, MBA,Ph.D

Erschienen in: The Management of Mutual Funds

Verlag: Springer International Publishing

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Abstract

The fundamental aim of this chapter is to understand the management of mutual funds in the following areas:

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Vorheriges Kapitel Introduction

Nächstes Kapitel Corporate Governance

Investment Company Institute, Global Corporate Governance Issues for Mutual Funds’, 2000.

S.K. Barua, J.R. Varma and N. Venkiteswaran (1991), “A Regulatory Framework for Mutual Fund”, Economic and Political Weekly, Special issue on Review of Management and Industry, Vol. 26, No. 21, May 25, 55–59.

J.C. Verma (1994), Merchant Banking and Financial Services, Taxmann Publishers Ltd, New Delhi.

Vaid Seema (1994), ‘Mutual Fund Operations in India, Rishi Publications, New Delhi.

Eric Doiter (2015), Disentangling Mutual Fund Governance From Corporate Governance, 5 Harvard Business Law Review (Fall).

Mohan Rao P (1998), ‘Working of Mutual Fund Organizations in India’, Kanishka Publishers, New Delhi.

Martin E. Lybecker (2005), Enhanced Corporate Governance for Mutual Funds: A Flawed Concept that Deserves Serious Reconsideration, 83 Wash. U. L. Q. 104.

Khurshid SMZ, Rohit and Sing GP (2009), “ Level and trends of competition among the mutual funds in India”, Research Journal of Business Management, Vol. 3. Issue 2, 47–67.

Stephen Erlichman (2000), ‘Making it Mutual: Aligning the Interests of Investors and Managers: Recommendations for a Mutual Fund Governance Regime for Canada, ‘Prepared for the Canadian Securities Administrators’. “Towards Improved Fund Governance: The Way Forward”, Foreword to the Report, (July 27).

Yu, Ping, Corporate Governance of Chinese Fund Management Companies (August 26, 2011). Available at SSRN: http://ssrn.com/abstract=1917426 or http://dx.doi.org/10.2139/ssrn.1917426.

Jingjing Yang, Jing Chi, and Martin Young (2011), A review of corporate governance in China, Crawford School of Economics and Government, The Australian National University and Blackwell Publishing Asia Pty Ltd, doi:10.1111/j.1467-8411.2011.01283.x.

Jay C. Hartzell, Tobias M Uhlhofer and Sheridan D. Titman (2010), Alternative Benchmarks for Evaluating Mutual Fund Performance, Real Estate Economics, V38 1: pp. 121–154 DOI: 10.1111/j.1540-6229.2009.00253.x.

Berk A. Sensoy (2009), Performance evaluation and self-designated benchmark indexes in the mutual fund industry, Journal of Financial Economics 92, pp. 25–39.

Theodore Prince and Frank Bacon (2010), Analysing Mutual Fund Performance Against Established Performance Benchmarks: A Test of Market Efficiency, Research in Business and Economics Journal, Volume 1—February.

Arnold L. Redman*, N.S. Gullett* and Herman Manakyan (2000), The Performance of Global and International Mutual Funds, Journal of Financial and Strategic Decisions Volume 13 Number 1 Spring.

Grinblatt and Titman (1992), The persistence of mutual fund performance, Journal of Finance, Vol. 47, Issue 5, Dec, pp. 1977–84.

Alberto Bertoni, Giorgio Bertinetti, and Chiara Cesari (2005), Mutual-Fund Benchmarking and Market Bubbles: A Behavioural Approach, Transition Studies Review, 12 (1): 36 43

Eun, C.S., R. Kolodny and B.G. Resnick (1991), “U.S. Based International Mutual Funds: A Performance Evaluation,” The Journal of Portfolio Management 17, Spring, 88–94.

Bruce A Costa, Keith Jakob, Scott J Niblock and Elisabeth Sinnewe (2015), ‘Benchmarking’ the benchmarks: How do risk-adjusted returns of Australian mutual funds and indexes measure up?, Journal of Asset Management 16, pp. 386–400 , doi:10.1057/jam.2015.29.

Alex Frino and David R. Gallagher (2002), ‘Is Index Performance Achievable?: An Analysis of Australian Equity Index Funds’, Abacus, Vol. 38(2): pp. 200–214.

David E Allen and Victor Soucik (2003), Some Evidence on the performance benchmarking of Australian Fixed Interest Funds, Proceedings of Modelling and simulation society of Australia and New Zealand International Congress on Simulation, pp. 1221–26

Massimo Massa and Lee Xhang (2008), ‘The Effects of Organizational Structure on Asset Management, http://ssrn.com/abstract=1328189.

Manuel Ammann and Michael Verhofen (2008), ‘The Impact of Prior Performance on the Risk-Taking of Mutual Fund Manager’. Annals of Finance, Issue 5, pp. 69–90.

David M Smith (2009), ‘The Economics of Mutual Funds’, Chapter-3 of forthcoming in John A Haslem (ed.) ‘A Companion to Mutual Funds’, John Wiley Sons, USA.

Lalik K Bansal (1997), “Mutual Fund- Management and Working’, Deep & Deep Publishers, New Delhi.

Diane Del Guercio and Paula A. Tkac (2000), The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds versus Pension Funds, Federal Reserve Bank of Atlanta Working Paper 2000–21 November.

Zhao, Yonggan, A Dynamic Model of Active Portfolio Management and Mutual Fund Performance Evaluation (March 2005). Available at SSRN: http://ssrn.com/abstract=685683 or http://dx.doi.org/10.2139/ssrn.685683.

Treynor Jack L and Mazuy, Kay K (1966), “Can Mutual Funds Outguess the Markets”, Harvard Business Review, 44:, pp. 131–36.

Bauman, W. S., & Miller, R. E. (1995), Portfolio Performance Rankings in Stock Market Cycles. Financial Analysts Journal, 51, pp. 79–87.

Yoon K Choi, (2006) Relative Portfolio Performance Evaluation and Incentive Structure, Journal of Business, Vol. 79, No. 2, pp. 903–21.

Eleni Thanou (2008), “Mutual Fund Evaluation During Up and Down Market Conditions: The Case of Greek Equity Mutual Funds”, International Research Journal of Finance and Economics, Issue 13.

Mohit Gupta and Navdeep Aggarwal (2009), ‘Mutual Fund Portfolio Creation using Industry Concentration’, The ICFAI Journal of Management Research, Vol. Viii, No. 3, 2009, pp. 7–20.

Sandra Ramirez, Jesus Sierra Jimenez and Jonathan Witmer(2015), Canadian Open-End Mutual Funds: An Assessment of Potential Vulnerabilities, Bank of Canada, Financial system review, June pp. 47–55

Friend, I., F.E. Brown, E.S. Herman and D. Vickers (1962), A Study of Mutual Funds, U.S. Government Printing Office, Washington, D.C.

Sharpe, William F (1964), “Capital Asset Prices: A Theory of Market Equilibrium under conditions of Risk’, Journal of Finance, 19: Sept, pp. 225–42.

Treynor Jack L (1965), “How to rate management of investment funds?’, Harvard Business Review, Vol. 43, pp. 63–75.

Treynor Jack L and Mazuy, Kay K (1966), “Can Mutual Funds Outguess the Markets”, Harvard Business Review, 44: 131–36.

Michel C Jensen (1967), “The Performance of Mutual Funds in the Period 1945–64”, Journal of Finance, Vol. No. 23, No. 2, pp. 389–416.

Born Karn Eric (1983), ‘International Banking in the 19th and 20th Centuries, New York: St. Martin’s Press.

Fama Eugene F. (1972), “Components of Investment Performance”, Journal of Finance, 27: pp. 551–67.

Dunn, P. C., &Theisen, R. D (1983), “How consistently do active managers win?” Journal of Portfolio Management, 9, pp. 47–51.

Eun, C.S., R. Kolodny and B.G. Resnick (1991), “U.S. Based International Mutual Funds: A Performance Evaluation,” The Journal of Portfolio Management 17, Spring, pp. 88–94.

Barua SK and Varma JR (1993b), “Speculative Dynamics: The Case of Master shares”, Advances in Financial Planning and Forecasting, Vol.5, Jai Press, Greenwich CT, USA.

Droms, W.G. and D.A. Walker, “Investment Performance of International Mutual Funds,” Journal of Financial Research 17, Spring 1994, pp. 1–14.

Volkman, D. A., &Wohar, M. E. (1995), “Determinants of Persistence in Relative Performance of Mutual Funds”, Journal of Financial Research, 18, pp. 415–30.

Elton, Edwin J, Martin J Gruber and Christopher R Blake (1996), “Market Timing Ability and Volatility Implied in investment Newsletters’ Asset Allocation Recommendations’, Journal of Financial Economics, 42, pp. 397–421.

Jayadeve M (1996), “Mutual Fund Performance: An Analysis of Monthly Returns”, Finance India, Vol. X, No. 1, March, pp. 73–84.

Carhart, M. M. (1997), “Persistence in Mutual Fund Performance,” Journal of Finance, 52, pp. 57–82.

Jow-Ran Chang, Mao-Wei Hung & Cheng-few Lee (2003), “An Intertemporal CAPM approach to Evaluate Mutual Fund Performance”, Review of Quantitative Finance and Accounting, 20, pp. 425–33.

Alexander T Obeid (2004), “A modified approach for Risk-adjusted performance attribution”, Financial markets and portfolio management’, Vol. 18, 2004, No. 3, pp. 285–305.

Martin Eling (2006), “Performance Measurement of Hedge Funds using Data Envelopment Analysis”, Financial Markets and Portfolio Management, Vol. 20, pp. 442–471.

George Comer (2006), ‘Hybrid Mutual Funds and Market Timing Performance, Journal of Business, Vol. 79, No. 2, pp. 771–97.

Yoon K Choi (2006), Relative Portfolio Performance Evaluation and Incentive Structure, Journal of Business, Vol. 79, No. 2, pp. 903–21.

Ramesh Chander (2006), “Informational Efficiency, Parameter Stationarity and Bench Mark Consistency of Investment Performance, The ICFAI Journal of Applied Finance, March.

Gajendra Sidana (2007), “Classifying Mutual Funds in India: Some results from clustering”, Indian Journal of Economics and Business, Vol.II. No.2.

Coates John C. and Hubbard Glenn R (2007), ‘Competition in the mutual fund industry: Evidence and implications for policy’, Discussion paper No. 592, Aug, Source: http://ssrn.com/abstract=1005426.

Cehng-Ru Wu, Hsin-Yuan Chang & Li-Syuan Wu (2008), “A Framework of assessable mutual fund performance, Journal of Modeling in Management, Vol. 3, No. 2, pp. 125–39.

Eleni Thanou (2008), “Mutual Fund Evaluation During Up and Down Market Conditions: The Case of Greek Equity Mutual Funds”, International Research Journal of Finance and Economics, Issue 13.

Massimo Massa and Lee Xhang (2008), ‘The Effects of Organizational Structure on Asset Management, http://ssrn.com/abstract=1328189.

Manuel Ammann and Michael Verhofen (2008), ‘The Impact of Prior Performance on the Risk-Taking of Mutual Fund Manager’ Annals of Finance, Issue 5, pp. 69–90.

Onur Arugaslan, Ed Edwards, Ajay Samant (2008), ‘Risk-adjusted Performance of International Mutual Funds’, Managerial Finance, Vol. 34, No. 1, pp. 5–22.

Qiang Bu and Nelson Lacey (2008), ‘On Understanding Mutual fund terminations’, Journal of Economics and Finance, Vol. 33, pp. 80–99.

David M Smith (2009), ‘The Economics of Mutual Funds’, Chapter-3 of forthcoming in John A Haslem (ed.) ‘A Companion to Mutual Funds’, John Wiley Sons, USA.

Baker Kent H, John A. Haslem and David M Smith, “Performance and Characteristics of Actively Managed Institutional Equity Mutual Funds”, Electronic copy source: http://ssrn.com/abstract=1124577.

Khurshid SMZ, Rohit and Sing GP (2009), “ Level and trends of competition among the mutual funds in India”, Research Journal of Business Management’, Vol3. Issue 2, pp. 47-67.

Sunil Wahal and Alber (Yan) Wang (2010), ‘Competition among Mutual Funds’, Journal of Financial Economics, March, source: http://ssrn.com/abstract=1130822.

Statman M (2000), ‘Socially responsible Mutual Funds’, Financial Analysts Journal, Vol. 56, pp. 30–38.

Elango (20003), ‘Which fund yields more returns? A Comparative analysis on the NAV Performance of Select Public v/s Private/Foreign Open-ended Mutual Fund Schemes in India, Mutual Funds.

Modigliani, Franco and Modigliani, Leah(1997), “ Risk Adjusted Performance”, Journal of Portfolio Management, pp. 45–54

Huang, Lixin and Kale, Jayant R., Product Market Linkages, Manager Quality, and Mutual Fund Performance (September 10, 2012). forthcoming in the Review of Finance. Available at SSRN: http://ssrn.com/abstract=1429431 or http://dx.doi.org/10.2139/ssrn.1429431.

Wermers, Russ, Is Money Really ‘Smart’? New Evidence on the Relation Between Mutual Fund Flows, Manager Behaviour, and Performance Persistence (May 2003). Available at SSRN: http://ssrn.com/abstract=414420 or http://dx.doi.org/10.2139/ssrn.414420.

Kacperczyk, Marcin T. and Seru, Amit, Fund Manager Use of Public Information: New Evidence on Managerial Skills. Sauder School of Business Working Paper. Available at SSRN: http://ssrn.com/abstract=623102 or http://dx.doi.org/10.2139/ssrn.623102.

Cuthbertson, Keith and Nitzsche, Dirk and O’Sullivan, Niall, A Review of Behavioural and Management Effects in Mutual Fund Performance (January 28, 2016).

International Review of Financial Analysis. Available at SSRN: http://ssrn.com/abstract=2723890.

Amisano, Gianni and Savona, Roberto, Imperfect Predictability and Mutual Fund Dynamics: How Managers Use Predictors in Changing Systematic Risk (March 2008). ECB Working Paper No. 881. Available at SSRN: http://ssrn.com/abstract=1103484.

Titel: Review of Literature
verfasst von: Dr. G. V. Satya Sekhar, MBA,Ph.D
Verlag: Springer International Publishing
Buch: The Management of Mutual Funds
Print ISBN: 978-3-319-33999-3

Electronic ISBN: 978-3-319-34000-5

Copyright-Jahr: 2017
DOI: https://doi.org/10.1007/978-3-319-34000-5_2