Abstract
The purpose of this paper is to shed some light on the appropriateness of measures of managerial skill and managerial performance through time. The empirical study carried out here, includes evidence on the simple information ratio and the distribution of it by style. It then proceeds to contrast and compare it with the ratio derived from an estimated beta, the Sharpe ratio and the Treynor ratio, while conclusions are to be drawn concerning the usefulness of each for the investor. Furthermore, empirical evidence is presented, on the ability of mutual funds managers to earn abnormal returns, in successive time periods.
Original language | English |
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Pages (from-to) | 87-100 |
Number of pages | 14 |
Journal | Managerial Finance |
Volume | 31 |
Issue number | 2 |
DOIs | |
Publication status | Published - 1 Feb 2005 |
Keywords
- Information ratio
- Managerial performance
- Mutual funds
- Sharpe ratio
- Treynor ratio