中国开放式基金绩效的实证研究  

An Empirical Study on the Performance of the Opened-end Funds in China

作　　者：何娟[1] 毛维静[2] 

机构地区：[1]西安交通大学经济与金融学院,陕西西安710061 [2]西安财经学院经济学院,陕西西安710061

出　　处：《统计与信息论坛》2006年第3期90-95,共6页Journal of Statistics and Information

摘　　要：文章通过实证分析得到中国开放式基金的收益、风险调整收益、基金经理人的时机和股票选择能力等方面的指标,并运用无量纲数据标准化处理方法和因子分析法进行综合评价。实证结果表明:中国的大部分开放式基金可以战胜市场,但没有足够证据显示中国的开放式基金经理人具有显著市场选择能力和证券选择能力。This paper gives an empirical study on performance of the opened- end funds, including return, risk - adjusted returns, managers＇ selecting ability and timing ability, also there is some analysis to the results. Then the authors use the non - dimensionalization method to process the data and carry out am factor analysis to measure the performance systematically. The empirical result suggests that most of the opened - end funds in our country can have better performance than market. However, it is a pity that there is not enough evidence to show that the managers have the significant selectiing ability and timing ability.

关 键 词：开放式基金 绩效评价 投资基金 

分 类 号：F224.0[经济管理—国民经济]