... affects the fund performance. However, the coefficient of W becomes insignificant on the fund return (Return) and excess return (Excessreturn), while the effect of Oiroi continues to hold for all alternative measures of the fund performance. Therefore, we conclude that the central funds...

...Bohyun Yoon; Kyoung-Woo Sohn; Won-Suk Liu Recently, due to its passive property, the smart beta has become one of the most interest topics in searching the alpha. In this paper, we attempt to show whether the smart beta strategy generate abnormal excess return, in tradition, which are known...