Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements
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https://www.nber.org/papers/w10685
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资源简介：
We test whether fund managers have stock-picking skill by comparing their holdings and trades prior to earnings announcements with the returns realized at those events. This approach largely avoids the joint-hypothesis problem with long-horizon studies of fund performance. Consistent with skilled
提供机构：
美国国家经济研究局
创建时间：
2004-08-01
