Record Details

European Journal of Sustainable Development

View Archive Info
 
 
Field Value
 
##plugins.schemas.marc.fields.title.name## Stock Picking and Market Timing of the Egyptian Fund Managers: Evidence from the Financial Crisis
 
##plugins.schemas.marc.fields.creator.name## Elmesseary, Mohammad; Research Scholar, Department of Management - Banking and Finance Track, University of Rome Tor Vergata, Italy. Lecturer, Department of Management - Finance Track, Tanta University, Egypt.
 
##plugins.schemas.marc.fields.description.name## The findings of over-or-under performance of fund managers across the crisis periods are mixed. By analyzing the data of 35 Egyptian funds, this paper investigates the two skills of market timing and selectivity during-and-post the 2007-2008 financial turmoil; it also examines the comparative performance between the conventionaland Islamic mutual funds. The results show no evidence of these skills even for the overall period or for the crisis one, where Chow – test documents that there are no structural changes either for the regression line or for its coefficients across the two sub-periods. These findings are supported by using a well-known benchmark. Thus, it seems that investors cannot gain superior returns by investing in the mutual funds industry as a whole. Furthermore, the outcomes of the cross-sectional analysis report that investors cannot also attain higher returns by investing in a particular fund group against the other, implying that the ethical screening, which is adopted by the Islamic ones, and which limits their potentials of diversification does not impact their performance.JEL classification: G1; G2Keywords: Capital markets, Islamic mutual funds, performance evaluation, market timing ability,stock picking ability
 
##plugins.schemas.marc.fields.publisher.name## European Center of Sustainable Development
 
##plugins.schemas.marc.fields.contributor.name##
 
##plugins.schemas.marc.fields.date.name## 2014-10-01
 
##plugins.schemas.marc.fields.type.name## info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
##plugins.schemas.marc.fields.format.name## application/pdf
 
##plugins.schemas.marc.fields.identifier.name## https://ecsdev.org/ojs/index.php/ejsd/article/view/162
10.14207/ejsd.2014.v3n3p309
 
##plugins.schemas.marc.fields.source.name## European Journal of Sustainable Development; Vol 3, No 3; 309-322
2239-6101
2239-5938
 
##plugins.schemas.marc.fields.language.name## eng
 
##plugins.schemas.marc.fields.relation.name## https://ecsdev.org/ojs/index.php/ejsd/article/view/162/155
 
##plugins.schemas.marc.fields.rights.name## This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.Authors of articles published in the European Journal of Sustainable Development retain copyright on their articles. Authors are therefore free to disseminate and re-publish their articles, subject to any requirements of third-party copyright owners and subject to the original publication being fully cited.  The ability to copy, download, forward or otherwise distribute any materials is always subject to any copyright notices displayed. Copyright notices must be displayed prominently and may not be obliterated, deleted or hidden, totally or partially.