Loranth, Gyongyi; Sciubba, Emanuela - In: Topics in Economic Analysis & Policy 6 (2006) 1, pp. 1540-1540
inefficiencies in portfolio selection caused by relative performance evaluation of fund managers. We find that the on-going process … performance evaluation is widely in use. … inefficiencies. Hence the transitory market structure that characterises the mutual fund industry could explain why relative …