Value investing: application of different strategies to equity mutual funds

被引：0

作者：

Iglesias Garcia, Juan Manuel ^{[1
]}

Otero Gonzalez, Luis ^{[1
]}

Duran Santomil, Pablo ^{[1
]}

机构：

[1] Univ Santiago De Compostela, Dept Finance & Accounting, Santiago De Compostela, Spain

来源：

SPANISH JOURNAL OF FINANCE AND ACCOUNTING-REVISTA ESPANOLA DE FINANCIACION Y CONTABILIDAD | 2022年 / 51卷 / 02期

关键词：

Mutual funds; active management; value investing; performance; BOOK-TO-MARKET; CROSS-SECTION; STOCK RETURNS; RATIOS; INFORMATION; INVESTMENT; WINNERS; RISK;

D O I：

10.1080/02102412.2021.1909318

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper we have analysed the performance of several value investing strategies for Eurozone equity mutual funds. We have executed an empirical study of what the application of this technique implies, with its different variants, to large-cap equity funds. This has allowed us to analyse different value investment strategies, and to see which are the most profitable. Since they are defined by parameters, or ratios, the next step in this study has been to analyse the sensitivity of investors' profitability in accordance with how effective choosing mutual funds is based on certain ratios, or a possible combination of several of them. Our results support that an investment strategy combining value (undervalued stocks) and quality (high ROA) leads to success when investing in Eurozone equity mutual funds.

引用

页码：213 / 231

页数：19

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