Table IV.

Description of H1 variables, tests and results

IDHypothesisTestResult
H1Post-modern theory is used more than the modern theory in performance evaluation and in optimization and risk budgeting with absolute riskChi-square statisticHypothesis rejected based on tests in full sample and subsamples
 Tests performedHypotdesesp-valueSigResult
T1aComparison of the proportions of respondents using modern (θ1) and post-modern (θ2) theory for absolute risk budgetingh0: θ1 = θ2
h1: θ1 > θ2
0.334 H0 Not Rejected
T1bComparison of the proportions of respondents using modern (θ1) and post-modern (θ2) theory for portfolio optimization with absolute riskh0: θ1 = θ2
h1: θ1 > θ2
0.006***H0 Rejected
T1cComparison of the proportions of respondents using modern (θ1) and post-Modern (θ2) Theory for performance evaluationh0: θ1 = θ2
h1: θ1 > θ2
0.000***H0 Rejected

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