The Impact of Downside Risk on Performance Appraisal of Investment Companies in the Tehran Stock Exchange(TSE).
Many performance measures, such as the classical Sharpe ratio have difficulty in evaluating the performance of investment companies whose return distributions are skewed. Common causes for skew ness are the use of options in the portfolio or superior market timing skills of the portfolio managers. I...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
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University of Tehran
2007-12-01
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| Series: | تحقیقات مالی |
| Subjects: | |
| Online Access: | https://jfr.ut.ac.ir/article_27216_377d2e5374d78e6393364839afe7c0d9.pdf |