Cheung, C. Sherman; Kwan, Clarence C.Y.; Mountain, Dean C. - In: Finance Research Letters 6 (2009) 2, pp. 106-113
Asset spanning tests are very useful tools for the determination of which asset classes belong to an investor's portfolio. There are numerous applications of such tools in the finance literature. What is not so obvious is the proper decision an investor should make if the extra asset classes are...