dc.contributor.author | Annagurban, Mähri | |
dc.contributor.author | Seland, Helene Sogge | |
dc.date.accessioned | 2019-10-15T14:34:47Z | |
dc.date.available | 2019-10-15T14:34:47Z | |
dc.date.issued | 2019 | |
dc.identifier.uri | http://hdl.handle.net/11250/2622395 | |
dc.description | Masteroppgave(MSc) in Master of Science in Business, Finance/Masteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2019 | nb_NO |
dc.description.abstract | We measure the degree of active management in Norwegian equity mutual funds
and investigate how it relates to fund performance in the period 2007-2018. Our
measures of active management are active share and tracking error. We find that
while the mutual funds do outperform their benchmark index, only 42% of the
Carhart four-factor alphas are statistically significant, yet still not economically
significant. Sorting funds into equal-weighted portfolios based on active share and
tracking error, we find a positive correlation between active share and fund
performance, whereas tracking error has a zero to negative relationship. Sorting
funds into portfolios based on fund size and active share, we find that the level of
active share has the largest positive effect on the smallest firms. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Handelshøyskolen BI | nb_NO |
dc.subject | finans | nb_NO |
dc.subject | finance | nb_NO |
dc.subject | financial economics | nb_NO |
dc.title | Active Share and Performance of Norwegian Equity Funds | nb_NO |
dc.type | Master thesis | nb_NO |