Does fund managers' timing ability depend on market conditions? Evidence from Turkish variable funds
by Hale Yalcin; Sema Dube
Afro-Asian J. of Finance and Accounting (AAJFA), Vol. 11, No. 4, 2021

Abstract: We examine market timing by Turkish variable-fund managers during 2011-2016 within a panel data framework, using interaction variables to control for market conditions. We find strong evidence for market-timing ability, which increases with country openness, global emerging-market portfolio returns, economic growth and, to a smaller extent, derivative market size; and decreases with technological advancement. We also find no evidence for security selection ability. Our results suggest that market timing ability depends on market conditions and it may be important to control for such conditions in studies that seek to determine managerial performance.

Online publication date:: Thu, 23-Sep-2021

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the Afro-Asian J. of Finance and Accounting (AAJFA):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com