This paper examines the use of private information by mutual funds with unconditional and conditional performance models. Using daily data for 35 countries over the 1990-2015 period, we find evidence that the use of conditioning information provides a more accurate estimation of fund...

In this paper we examine the impact of the profitability and risk of mutual funds on the investment decisions of its investors in the U.S. market, which has experienced a significant growth over the last decades. The investors´ behaviour is established from proxies such as net variations of...

In this paper, we use Data Envelopment Analysis (DEA) to examine the efficiency of European mutual funds across different investment styles. The DEA methodology allows going beyond the meaning of conventional efficiency, being able to identify the most efficient mutual funds compared to the rest...