...Dinis Daniel Santos; Paulo Gama Purpose This paper aims to study individual managers’ market timing capabilities while trading (either buying or selling) stock from their portfolios, as well as the impact of gender, seniority and trading frequency on their market timing performance. Design...

...Subramanian Iyer; Siamak Javadi Purpose This study aims to examine the behavior of cash raised through market timing efforts and the success of such efforts in creating value to shareholders. Design/methodology/approach It is shown that in two quarters, subsequent to raising equity, cash...

...Nuno Manuel Veloso Neto; Júlio Fernando Seara Sequeira da Mota Lobão; Elisabete Simões Vieira Purpose This study aims to evaluate the performance of the Portuguese fund managers by examining the selectivity and market timing skills of 51 Portuguese mutual funds from June 2002 to March 2012...

...Javier Rodríguez; Herminio Romero Purpose This paper aims to study the market timing skill of USA-based foreign open-end mutual funds in their geographical focus market. Design/methodology/approach The authors use daily fund data and two multi-factor extensions of the Treynor-Mazuy (1966...

...Georges Hübner Purpose – The Treynor and Mazuy framework is a widely used return-based model of market timing. However, existing corrections to the regression intercept can be manipulated through derivatives trading. Because they are conceptually flawed, these corrections produce biased...

... the first implementation of both methodologies: domestic differential exposure and assertion rates, to examine global funds. Market timing Forecasting ability Portfolio evaluation International mutual funds (IMFs) allow individual investors to diversify their portfolios at a reasonable cost...