This work corrects the risk quotient penalization carried out by the Sharpe and Treynor ratios, which, assuming normality in returns distribution, are equivalent to classifying the funds according to the probability of their returns being below that of the risk-free asset, without considering...

The main aim of this paper is to analyze if pension funds managers are able to implement style timing strategies, one topic very important for an efficient management of an investment portfolio. Besides it is analyzed the stock-picking abilities of these managers. To this end, conditional and...

This paper examines the stock-picking and market timing abilities of pension funds managers in the UK and Spanish markets, analysing their use of privileged information to implement management strategies and considering the possible effects of portfolio size. We take the analysis further by...

This paper aims to study the different models of implementing the internet in financial brokerage, especially in trying to identify the main factors that explain the success of Bankinter in this area of business. Bankinter's position, with respect to the other financial entities in the Spanish...

This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained using traditional measures and those obtained using measures that consider time variations in returns and risks by incorporating macroeconomic variables representative of Spanish...

This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained using traditional measures and those obtained using measures that consider time variations in returns and risks by incorporating macroeconomic variables representative of Spanish...

This paper aims to study the different models of implementing the internet in financial brokerage, especially in trying to identify the main factors that explain the success of Bankinter in this area of business. Bankinter's position, with respect to the other financial entities in the Spanish...