000096250 001__ 96250
000096250 005__ 20210902121832.0
000096250 0247_ $$2doi$$a10.1016/j.irfa.2020.101564
000096250 0248_ $$2sideral$$a119261
000096250 037__ $$aART-2020-119261
000096250 041__ $$aeng
000096250 100__ $$0(orcid)0000-0002-3528-4715$$aLoban Acero, Lidia$$uUniversidad de Zaragoza
000096250 245__ $$aEurozone regulation bias in the active share measure
000096250 260__ $$c2020
000096250 5060_ $$aAccess copy available to the general public$$fUnrestricted
000096250 5203_ $$aThis study is the first to examine how both the domestic equity benchmark concentration and the Directive 2009/65/EC on risk of portfolio diversification may distort the accuracy of the original Active Share measure of Cremers and Petajisto (2009) in the Eurozone mutual fund industry. The main contribution of this paper is to provide statistical significance to the Active Share measure considering the spurious activity levels due to this benchmark concentration. The empirical application to a comprehensive sample of domestic equity funds provides evidence of significant differences in the actual levels of active management in the Eurozone mutual fund industries.
000096250 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S38-17R$$9info:eu-repo/grantAgreement/ES/MCIU/FPU16-03779$$9info:eu-repo/grantAgreement/ES/MINECO/RTI2018-093483-B-I00
000096250 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000096250 590__ $$a5.373$$b2020
000096250 591__ $$aBUSINESS, FINANCE$$b8 / 108 = 0.074$$c2020$$dQ1$$eT1
000096250 592__ $$a1.27$$b2020
000096250 593__ $$aFinance$$c2020$$dQ1
000096250 593__ $$aEconomics and Econometrics$$c2020$$dQ1
000096250 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000096250 700__ $$0(orcid)0000-0001-6078-0465$$aSarto Marzal, José Luis$$uUniversidad de Zaragoza
000096250 700__ $$0(orcid)0000-0003-4778-5960$$aVicente Gimeno, Luis Alfonso$$uUniversidad de Zaragoza
000096250 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000096250 773__ $$g72 (2020), 101564 [10 pp.]$$pInt. rev. financ. anal.$$tInternational review of financial analysis$$x1057-5219
000096250 8564_ $$s630559$$uhttps://zaguan.unizar.es/record/96250/files/texto_completo.pdf$$yPostprint
000096250 8564_ $$s243302$$uhttps://zaguan.unizar.es/record/96250/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000096250 909CO $$ooai:zaguan.unizar.es:96250$$particulos$$pdriver
000096250 951__ $$a2021-09-02-10:17:17
000096250 980__ $$aARTICLE