Browsing by Subject "Herding"
Now showing items 1-2 of 2
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The case against active pension funds: evidence from the Turkish private pension system
(Elsevier, 2015-06)Using data on private Turkish pension funds we show that most active managers are not able to provide performance beyond what could be achieved by passive indexing. The average fund beats its benchmark by only 26 basis ... -
Do mutual funds herd in industries?
(Elsevier, 2015-03)This study examines whether mutual funds herd in industries and the extent to which such herding impacts industry valuations. Using two herding measures proposed by Lakonishok et al. (1992) and Sias (2004) we document that ...
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