On the Industry Concentration of Actively Managed Equity Mutual Funds

By Marcin T. Kacperczyk, Clemens Sialm, Lu Zheng. 2005

1,188 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/be10cef49c0af85a031888c203cf084739d6c55c

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Citations in the corpus

Yet Another Puzzle? The Relation between Price and Performance in the Mutual Fund Industry (2007, neutral): “…recent entries to this literature include Malkiel (1995); Brown and Goetzmann (1995); Gruber (1996); Carhart (1997); Daniel et al. (1997), Hendricks et al. (1993); Elton et al. (1996); Wermers (2000); Cohen et al. (2005); Kacperczyk et al. (2005); Busse and Irvine (2006); Kosowski et al. (2006).”
Mean field and n‐agent games for optimal investment under relative performance criteria (2017, background): “Other representative works include Boyle, Garlappi, Uppal, and Wang (2012); Kacperczyk, Sialm, and Zheng (2005); Liu (2014); Mitton and Vorkink (2007); Van Nieuwerburgh and Veldkamp (2009, 2010); Uppal and Wang (2003).”
Side-by-Side Management of Hedge Funds and Mutual Funds (2010, positive): “the return gap (see Kacperczyk et al., 2008) of side-by-side funds with their independent strategy cohorts, we estimate return gaps for our side-by-side managers and their style peers. 30 Our results are largely consistent with what we report in earlier tables: we again find no evidence that mutual ”
Uncovering expected returns: Information in analyst coverage proxies (2017, neutral): “…suggest that there is evidence that investment managers possess stock picking ability when looking within their portfolio allocation decisions (e.g., Wermers, 20 0 0; Cohen et al., 20 02; Kacperczyk et al., 2005 ). coverage decisions, and what analysts ‘say,’ via the content of their forecasts.”
Mandatory Portfolio Disclosure, Stock Liquidity, and Mutual Fund Performance: Portfolio Disclosure, Liquidity, and Fund Performance (2014, neutral): “11 (1997), Wermers (1999, 2000), Chen, Jegadeesh, and Wermers (2000), Cohen, Coval, and Pástor (2005), Kacperczyk, Sialm, and Zheng (2005, 2008), Alexander, Cici, and Gibson (2007), Jiang, Yao, and Yu (2007), Kacperczyk and Seru (2007), Cremers and Petajisto (2009), Baker et al. (2010), Ciccotello,…”
The Performance of Socially Responsible Mutual Funds: The Role of Fees and Management Companies (2010, neutral): “As discussed by Kreander et al. (2005), the quality of the matches worsens for periods that are far away from the time of matching.”
Disentangling Risk and Change (2015, methodology): “To measure changes in stock concentration, we computed the Herfindahl Index of security concentration, following the methodology used by Kacperczyk, Sialm, and Zheng (2005).”
Unobserved Actions of Mutual Funds (2008, positive): “To investigate the relation between the return gap and trading costs, we follow Wermers (2000) and estimate the funds' trading costs based on Keim and Madhavan (1997). In Appendix B, we describe in more detail the procedure used to estimate trading costs.”