000078257 001__ 78257
000078257 005__ 20191122145056.0
000078257 0247_ $$2doi$$a10.1016/j.jempfin.2017.11.004
000078257 0248_ $$2sideral$$a102471
000078257 037__ $$aART-2018-102471
000078257 041__ $$aeng
000078257 100__ $$0(orcid)0000-0002-9481-1466$$aMuñoz Sanchez, Fernando$$uUniversidad de Zaragoza
000078257 245__ $$aHindsight effect: What are the actual cash flow timing skills of mutual fund investors?
000078257 260__ $$c2018
000078257 5060_ $$aAccess copy available to the general public$$fUnrestricted
000078257 5203_ $$aThis paper analyzes the cash flow timing skills of mutual fund investors, controlling for the hindsight effect (HE). We analyze a sample of US domestic equity mutual funds in the period 1990–2016. Before controlling for the HE, we find that mutual fund investors worsen the return that they achieve with their timing decisions by 1.80% annually. However, after controlling for the HE, the actual prejudice is 0.71% annually. We establish several additional controls obtaining these next results: (i) more sophisticated and informed investors show better timing skills; (ii) the HE is more relevant to less sophisticated investors; (iii) investors wrongly time their exposure to the stock market; and (iv) incubation bias does not significantly affect previous results.
000078257 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S14-2$$9info:eu-repo/grantAgreement/ES/UZ/CUD2016-SOC-01
000078257 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000078257 590__ $$a1.244$$b2018
000078257 591__ $$aECONOMICS$$b178 / 363 = 0.49$$c2018$$dQ2$$eT2
000078257 591__ $$aBUSINESS, FINANCE$$b66 / 103 = 0.641$$c2018$$dQ3$$eT2
000078257 592__ $$a1.072$$b2018
000078257 593__ $$aFinance$$c2018$$dQ1
000078257 593__ $$aEconomics and Econometrics$$c2018$$dQ1
000078257 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000078257 700__ $$0(orcid)0000-0002-1667-6107$$aVicente Reñé, Ruth$$uUniversidad de Zaragoza
000078257 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000078257 773__ $$g45 (2018), 181-193$$pJOURNAL OF EMPIRICAL FINANCE$$tJOURNAL OF EMPIRICAL FINANCE$$x0927-5398
000078257 8564_ $$s164301$$uhttps://zaguan.unizar.es/record/78257/files/texto_completo.pdf$$yPostprint
000078257 8564_ $$s80046$$uhttps://zaguan.unizar.es/record/78257/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000078257 909CO $$ooai:zaguan.unizar.es:78257$$particulos$$pdriver
000078257 951__ $$a2019-11-22-14:46:00
000078257 980__ $$aARTICLE