DSpace Community: http://hdl.handle.net/10071/5797 2018-10-13T12:39:26Z 2018-10-13T12:39:26Z Short term persistence in mutual fund market timing and stock selection abilities Benos, E. Jochec, M. http://hdl.handle.net/10071/14085 2017-07-20T01:16:43Z 2011-01-01T00:00:00Z Title: Short term persistence in mutual fund market timing and stock selection abilities Authors: Benos, E.; Jochec, M. Abstract: Using daily return data from 448 actively managed mutual funds over a recent 9-year period, we look for persistence, over two consecutive quarters, in the ability of funds to select individual stocks and time the market. That is, we decompose overall fund performance into excess returns resulting from stock selection and timing abilities and we separately test for persistence in each ability. We find persistence in the ability to time the market only among well performing funds and in the ability to select stocks only among the very best and worst performers. The existing literature patterns appear only when funds are ranked by their overall performance, which includes stock selection, market timing and fees. With respect to overall performance, there is persistence among most poorly performing and only the top well performing funds. Furthermore, the profitability of a winner-picking strategy depends on the rebalancing frequency and potentially the size of the investment. Small investors cannot profit, whereas large investors can take advantage of the class-A share fee structure and realize positive abnormal returns by annually rebalancing their portfolios. 2011-01-01T00:00:00Z Profitability and financial analysis Mota, António http://hdl.handle.net/10071/13757 2017-06-20T01:14:30Z 2017-01-01T00:00:00Z Title: Profitability and financial analysis Authors: Mota, António Abstract: It presents the main performance indicators and it analysis the financial equilibrium and the role of working capital 2017-01-01T00:00:00Z Financial analysis: the relevance of rating and covenants Mota, António http://hdl.handle.net/10071/13756 2017-06-20T01:14:25Z 2017-01-01T00:00:00Z Title: Financial analysis: the relevance of rating and covenants Authors: Mota, António Abstract: How rating and debt covenats impact in the debt design and management. 2017-01-01T00:00:00Z Mercado spot Mota, António http://hdl.handle.net/10071/13751 2017-06-17T01:16:57Z 2017-01-01T00:00:00Z Title: Mercado spot Authors: Mota, António Abstract: Caracterização e análise do mercado spot 2017-01-01T00:00:00Z