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Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.13/919874

Title: Equity fund style and performance persistence in an emerging market: evidence from Korea
Author/Creator: Kang, Jangkoo; Lee, Changjun; Lee, Doowon
Institution: The University of Newcastle. Faculty of Business & Law, Newcastle Business School
Description: We investigate the investment styles and performance persistence of equity funds in Korea employing the Fama and French three-factor model (1993) as well as the Carhart four-factor model (1997). Unlike the evidence from the US, our study of performance and performance persistence reveals that most equity funds in Korea perform better than the overall stock market and positive performance that did exist does persist. Our style analysis shows that while investment styles of equity funds generally stay around the overall stock market index, equity funds have a tilt toward large stocks and growth stocks.
Relation: Asian Finance Association 2009 International Conference. Asian Finance Association 2009 International Conference: Conference Program (Brisbane, Qld 30 June - 3 July, 2009)
Relation: http://www.asian-fa.org/node/3
Date: 2009
Publisher: Asian Finance Association
Keyword(s): equity fund performance; investment style; style analysis; asset allocation
Resource Type: conference paper
Identifier: http://hdl.handle.net/1959.13/919874

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