Persistence of Performance http://www.sec.or.th Empirical Paper Methodology Evidence Sharpe (1966) Spearman rank correlation Yes Jensen (1968) Jensen’s alpha No Grinblatt&Titman (1989,1992) Jensen’s alpha Yes
fundamentals, earnings persistence, and future earnings (e.g. Lev and Thiagarajan, 1993). More specifically, when investors observe a pattern of increasing earnings, they can infer that a firm has stronger
. 10240 Email: pariyada.s@nida.ac.th Vol.7 No.2/2013 Persistence of Equity Mutual Fund Performance in Thailand Sorasart Sukcharoensin* and Pariyada Sukcharoensin** Abstract This study investigates the
% 52,010,000.00 2.50 130,050,000.00 10 Vibhavadi Medical Center PCL. 50% 56,000,000.00 2.68 150,000,000.00 Total 100% 112,000,000.00 2.68 300,000,000.00 Rank List of Shareholders Proportion Shares Price per Share
Top Quintile from 2012 through 2014. Only four funds stay in Top Half from 2010 through 2014. Performance Persistence Over Three Consecutive 12-Month Periods Mutual Fund Category Fund Count at Start
, we use the Carhart (1997) 4-factor adaptation of the Fama and French (1993) 3-factor model that includes the momentum (returns persistence) factor.4 For each stock in the sample, we estimate its beta
Commission concerning Additional Determination of Type of Juristic Person Classified as Institutional Investors; (b) using standardized agreement recognized by the SEC Office; (c) having repayment period of
Commission concerning Additional Determination of Type of Juristic Person Classified as Institutional Investors; (b) using standardized agreement recognized by the SEC Office; (c) having repayment period of
, dividend yield and valuation of the firms (Daily and Dollinger, 1991; Gallo, 1995). The determination of shareholder wealth is measured by TOBINQ with ROA or ROE (Goopers et. al., 2010; Lee, 2006; Zellweger
กลุม่ กราฟแสดงสดัส่วนการลงทุนในปัจจุบนัท่ี Standardized แลว้ Investor types Mean Rank of mean within same investor types Rank of mean across investor types Cash Holder Old- Fashioned Modern Investor Cash