%0 Journal Article
%T Holding-based Valuation on Stock Selection Ability of Funds<br>基于持股数据的基金择股能力评价
%A HU Wei
%A ZHANG Ming
%A <br>胡　畏
%A 张　明
%J 系统工程理论与实践
%D 2006
%I 
%X Valuation of fund performance is always an important topic in both theory and practice.Traditional methods of valuation based on regression have high dependence on the benchmarks.However,the holding-based methods have more power to identify the stock selection ability of funds,because they use more information than regression methods.Using the holding-based method,we made an empirical analysis on the stock selection ability of 54 Chinese funds,our results show that they have significant stock selection ability.
%K stock holdings
%K benchmark
%K stock selection ability<br>基金持股
%K 评价基准
%K 择股能力
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=99BBE8864902C0AF&yid=37904DC365DD7266&vid=96C778EE049EE47D&iid=9CF7A0430CBB2DFD&sid=96C778EE049EE47D&eid=9971A5E270697F23&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=0&reference_num=22