0000000000459522
AUTHOR
J. Edward Graham
showing 3 related works from this author
A fuzzy-set analysis of conditions influencing mutual fund performance
2019
Abstract This paper presents an application of fuzzy-set qualitative comparative analysis (fsQCA) to frame the conditions that lead to over- or under-performance of mutual funds. Building upon a considerable library of research on fund returns, the study uses fsQCA to affirm and extend earlier discoveries. Considered here is fund performance relative to Morningstar ratings, features of the funds themselves, as well as characteristics of the fund managers. Results suggest that positive Morningstar and analyst ratings are necessary conditions, on average, for funds to generate value according to the Jensen's alpha ratio. Just over seven percent of the cases imply that funds have attractive Sh…
Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis
2019
This study examines the conditions that lead mutual funds to underperform or outperform competitors. Using fuzzy-set qualitative comparative analysis (fsQCA), we draw upon extensive research on fund returns to affirm and extend earlier discoveries. Fund performance (Morningstar ratings), features of the funds themselves, and characteristics of the fund managers are considered. Positive Morningstar star and analyst ratings are necessary conditions for funds to generate value (measured by Jensen’s alpha). Funds with low management fees and low ongoing fees have attractive Sharpe ratios and high returns. Likewise, large funds with good Morningstar ratings have good Sharpe ratios and returns, o…
Business school grading on both sides of the Atlantic
2016
Abstract This study examines factors that influence academic performance in introductory finance and economics classes in Spain and compares results to those of similar classes in the United States. Unlike in the US, the better-performing students in Spain attend the earliest morning classes, and inadequate sleep does not always significantly associate with lower grades. The Spanish students closer to graduation outperform their less-experienced peers, but the US students delaying taking the introductory class until closer to graduation do not typically do better, or worse. The number of work hours per week outside the university negatively associates with academic performance for students …