58425 20210121114457.0 doi 10.1007/s10693-014-0198-2 sideral 86138 ART-2015-86138 eng (orcid)0000-0003-3275-5814 Ortiz, Cristina Universidad de Zaragoza Mutual fund trading and portfolio disclosures 2015 Access copy available to the general public Unrestricted This is the first study in a large European market which analyzes monthly portfolios to obtain evidence of equity fund trading around quarterly reports. A new portfolio-weight approach shows that managers disclose large-cap and well-known stocks with higher returns and hide the same return-loser stocks in the reporting months. A fund-size agency problem plays an important role in this window dressing evidence. Fund trading also shows that managers benefits from the January effect by buying small-cap stocks at the beginning of the year rather than causing this anomaly. info:eu-repo/grantAgreement/ES/MEC/ECO2009-12819-C03-02 info:eu-repo/grantAgreement/ES/UZ/268-159 info:eu-repo/semantics/openAccess by-nc http://creativecommons.org/licenses/by-nc/3.0/es/ 0.769 2015 BUSINESS, FINANCE 60 / 94 = 0.638 2015 Q3 T2 0.825 2015 Accounting 2015 Q2 Finance 2015 Q2 Economics and Econometrics 2015 Q2 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Ramírez, Gloria (orcid)0000-0003-4778-5960 Vicente Gimeno, Luis Alfonso Universidad de Zaragoza 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 48, 1 (2015), 83-102 J. financ. serv. res. JOURNAL OF FINANCIAL SERVICES RESEARCH 0920-8550 590606 http://zaguan.unizar.es/record/58425/files/texto_completo.pdf Postprint 33844 http://zaguan.unizar.es/record/58425/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:58425 articulos driver 2021-01-21-10:49:14 ARTICLE