Jans, Rob; Otten, Rogér - In: Managerial Finance 34 (2008) 11, pp. 786-798
Purpose – The purpose of this paper is to examine the tournament hypothesis in the UK mutual fund market. Based on a …, using the entire 1989‐2003 sample period no consistent evidence for tournament behaviour is found. This is robust to the … interesting pattern. During the first part of the sample period, 1989‐1996, significant evidence for tournament behaviour is found …