Essays about: "Reine Kase"

Found 1 essay containing the words Reine Kase.

  1. 1. Benchmark Changes Matter: The Case of Mutual Fund Relative Performance

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Daniel Karlsson; Reine Kase; [2008]
    Keywords : mutual funds; relative performance; benchmark change; performance-flow relationship;

    Abstract : From data on Sweden-registered mutual funds in the period 1999-2004 we construct a data set free of survivorship bias which we use to test the hypotheses that, on average, a) among funds that change benchmarks, the new benchmark selected ex post has a worse performance than the original benchmark, b) benchmark changes are affected by funds’ performance relative to their original benchmarks, and c) benchmark changes affect fund flows. Using simple t-, binomial -, and Wilcoxon tests as well as multinomial logit and fixed effects regression models, we find robust evidence for all three hypotheses. READ MORE