This article provides an explanation of the fluctuations and persistence of excess discount return in the UK and the US. On average, Guirguis six - factor model can explain 67% of the variation in the excess discount return in the UK market by taking into consideration the market effect, size,...

This article focuses on the importance of the traditional theories for the existence of the discount in relation to agency costs namely management performance. The argument that discounts reflect the quality of the management has been investigated in the past but the results were inconclusive....

In this article, we extend the three-factor of Fama and French’s (1993) model in order to explain the existence and persistence of the excess discount return. We added two more factors to these four risk measures namely market, size, book-to-market, and momentum. The first one is based on the...

This article examines the performance persistence of 12083 open-end funds over the period January 2010 to January 2020. We used a sample free of survivorship bias and measure performance using risk adjusted measures. Nineteen out of the forty-three categories showed high values of the Treynor,...

We used the entire population of 12083 US open - end funds to test performance persistence in different time periods. We bootstrapped on the monthly returns over successive years over the whole period starting from 01/01/2010 to 01/01/2020. The dataset was obtained from Wiesenberger...

This article examines the performance persistence of 603 closed-end funds over the period January 2010 to January 2020. We used a sample free of survivorship bias and measure performance using risk adjusted measures. Ten out of the twenty three categories showed high values of the Treynor,...

This article examined the performance and persistence of 603 closed-end funds using a large survivorship bias-free sample. The methodology that we have used is contingency tables. In order to examine performance persistence we rank the returns of funds over the period 2010 to 2020 using average...

We check performance persistence of closed-end funds in terms of both market price returns and net asset value average returns in each category. In addition, we use regression models to test market timing ability. We use the entire population of 603 closed-end funds over the period 01/01/2010 to...

This article examines US closed-end funds using a sample of 603 closed-end funds from the period 2010 to 2020. The sample is free of survivorship bias. We find evidence of long-term managerial positive persistence. Performance is measured by Jensen’s alpha based on regression models such as...

This article examines the performance persistence of 15534 variable annuities funds over the period January 2010 to January 2020. We use a population free from survivorship self-selection and backfill bias and measure performance using risk adjusted measures. The data was obtained from...