Market crises and benchmark-adjusted fund alphas in a small market context
This paper investigates the impact of using benchmark-adjusted alphas to assess the performance of small market mutual funds, investing in domestic and European equities. For the 2000-2020 period, our results show that fund benchmarks exhibit significantly negative alphas, which lead to an underest...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidade de Santiago de Compostela
2023-09-01
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| Series: | Revista Galega de Economía |
| Subjects: | |
| Online Access: | https://revistas.usc.gal/index.php/rge/article/view/9140 |