Meta-Analyses of Returns on Financial Investment Management Strategies

The examination of financial markets’ efficiency and the value created by various financial investment strategies constitute central themes in modern finance. Prior research on the performance of active mutual funds, smart-beta funds, hedge funds, private equity funds and on the impact of managerial skill and investor activism is based on fragmented data sets that may be plagued by various biases and that may not be representative of the entire population. In addition, prior studies use a wide range of estimation techniques that often produce conflicting results. Using meta-analysis techniques, we will synthesize these empirical findings adjusting for the biases and controlling for various estimation methods. We will also contribute to the development of the meta-regression methodology by proposing how it can be adapted to adjust for publication selection bias in areas related to financial markets. Our results will be informative for investors in their choice of how to invest their savings and for market regulators in their assessment of financial markets’ efficiency.

Project team of FSV UK (5)

prof. PhDr. Tomáš Havránek, Ph.D.

Principal investigator

+420 222 112 309  |  +420 224 412 318

tomas.havranek@fsv.cuni.cz

doc. Bc. Jiří Novák, M.Sc., Ph.D.

Team member

+420 222 112 314

jiri.novak@fsv.cuni.cz  |  novakji@fsv.cuni.cz

PhDr. Jiří Schwarz, Ph.D.

Team member

jiri.schwarz@fsv.cuni.cz

Mohammad Ali Elminejad Anjileh, M.Sc., Ph.D.

Team member

m.ali.elminejad@gmail.com  |  ali.elminejad@fsv.cuni.cz

prof. PhDr. Zuzana Havránková, Ph.D.

Team member (until 2022)

+420 222 112 309

zuzana.havrankova@fsv.cuni.cz

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