%0 Journal Article
%T Empirical Study on Performance Evaluation Factor Models of Chinese Mutual Funds<br>中国证券投资基金业绩评价因素模型实证研究
%A YANG Xin
%A WANG Xiao-zheng
%A <br>杨炘
%A 王小征
%J 系统工程理论与实践
%D 2003
%I 
%X This article analyzes the performance of Chinese mutual funds. We examine Jensen's alpha and Fama & French three-factor model for 33 mutual funds from 1999 to 2000. The result shows that the FF model is preferable to the Jensen model in the Chinese mutual fund market. Specifically, the return of the Chinese mutual fund can be explained by market premium, size, and book to market ratio.
%K mutual fund
%K performance evaluation
%K Jensen's alpha
%K Fama & French's three-factor mod- el<br>证券投资基金
%K 业绩评估
%K Jensen单因素模型
%K 三因素模型
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=52EC12153C161F78&yid=D43C4A19B2EE3C0A&vid=EA389574707BDED3&iid=F3090AE9B60B7ED1&sid=340AC2BF8E7AB4FD&eid=6209D9E8050195F5&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=8&reference_num=5