摘要
生存偏差效应是指在基金绩效研究中不考虑已退市基金的做法可能会导致人们对基金绩效的错误估计。本文选取2000—2007年期间的72只封闭式股票型基金来考察生存偏差对我国封闭式基金绩效及绩效持续性的影响。研究结果表明,忽略生存偏差效应会导致我国封闭式基金绩效的高估,且在一定程度上夸大了我国封闭式基金绩效的持续性。
Survivorship bias is the wrong estimation of fund performance due to the disappearance of some funds from the research sample. This paper analyses the effect of survivorship bias with 72 closed- end equity funds from 2000 to 2007. The results show that survivorship bias enhances the performance of close - ended fimds in China. Furthermore, survivorship bias magnifies the persistence of closed- end fund performance to some extent.
出处
《财经科学》
CSSCI
北大核心
2008年第10期49-54,共6页
Finance & Economics
基金
西南财经大学科研基金资助项目
批准号:07QN14
四川省哲学社会科学规划2007年度项目
批准号:SC07B046
关键词
封闭式基金
生存偏差
绩效评估
绩效持续性
Closed- end fund
Survivorship bias
Performance evaluation
Performance persistence
