Horst, Jenke R. ter; Nijman, Theo E.; Verbeek, Marno - Centrum voor Economische Studiën, Faculteit Economie … - 1998
Poor performing mutual funds are less likely to be observed in the data sets that are typically available. This so-called survivor problem can induce a substantial bias in measures of the performance of the funds and the persistence of this performance. Many studies have recently argued that...