This paper challenges existing studies of mutual fund market timing that find little evidence of timing ability. Using a sample of daily returns for 35 countries, we find that more than a third of mutual funds show significantly positive market timing ability across all countries. We show that...

This paper examines the short term persistence in performance of equity mutual funds around the world between 1990 and 2013. Using a large survivorship bias-free sample for 35 countries, we document strong evidence of persistence in daily mutual fund returns over quarterly measurement periods....

In this paper we examine whether mutual fund managers around the world are able to implement synchronization strategies with respect to different investment styles, a fundamental aspect in the efficient management of an investment portfolio. We also analyze the skills of these managers to...

There is no overall consensus about which measure is the most suitable for evaluating portfolios' performance. Despite being affected by some of the statistical characteristics of returns, Sharpe ratio is the most widely used measure for portfolio performance evaluation. Thus, the other measures...

In recent years, the investment fund industry has had a strong boost around the world, both in assets under management as in number of funds and participants. This growth in supply and demand could be described as spectacular despite several crises in the financial markets during the last two...

We examine whether funds that lag performance around the world increase their risk exposure to improve performance with the intention that larger returns will attract new capital inflow and will boost the fund manager´s fees. Previous research confirmed that underperforming funds increased...

Part I: Corporate Ownership Structure and Corporate Governance -- Part II: Issues in Executive Compensation -- Part III: Boards of Directors: Roles, duties, and Responsibilities -- Part IV: New Trends in Corporate Governance: Towards a More Effective and Sustainable Governance