Do Funds Make More When They Trade More?
收藏NBER2014-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20700
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资源简介：
We model optimal fund turnover in the presence of time-varying profit opportunities. Our model predicts a positive relation between an active funds turnover and its subsequent benchmark-adjusted return. We find such a relation for equity mutual funds. This time-series relation between turnover and
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美国国家经济研究局创建时间：
2014-11-01
