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@article{ART002182882},
author={Hyo Keun Joo and Choi, Young Mok},
title={Does IPO Funds Provide Differentiated Economic Benefits to Investors?},
journal={Asset Management Review},
issn={2288-6672},
year={2016},
volume={4},
number={2},
pages={1-19}

TY - JOUR
AU - Hyo Keun Joo
AU - Choi, Young Mok
TI - Does IPO Funds Provide Differentiated Economic Benefits to Investors?
JO - Asset Management Review
PY - 2016
VL - 4
IS - 2
PB - Institute of Management Research, SungKyunKwan University
SP - 1
EP - 19
SN - 2288-6672
AB - This study examines whether IPO funds in the Korean fund market provide differentiated economic benefits. Specifically, in the perspective of investors, we attempt to investigate economic benefits of IPO funds in following three aspects: (1) whether to extend investment opportunities set; (2) outperformance relative to market and peer funds; and (3) the persistence of performance. Our findings are as follows. First, in mean-variance spanning tests, we find that while IPO funds cannot extend an investor’s investment opportunities set. Second, we find that IPO funds have no outperformance over market and peer funds. Lastly, our results show that IPO funds have negative performance persistence.
KW - IPO funds;Fund performance;Spanning test;Performance persistence
DO -
UR -
ER -

Hyo Keun Joo and Choi, Young Mok. (2016). Does IPO Funds Provide Differentiated Economic Benefits to Investors?. Asset Management Review, 4(2), 1-19.

Hyo Keun Joo and Choi, Young Mok. 2016, "Does IPO Funds Provide Differentiated Economic Benefits to Investors?", Asset Management Review, vol.4, no.2 pp.1-19.

Hyo Keun Joo, Choi, Young Mok "Does IPO Funds Provide Differentiated Economic Benefits to Investors?" Asset Management Review 4.2 pp.1-19 (2016) : 1.

Hyo Keun Joo, Choi, Young Mok. Does IPO Funds Provide Differentiated Economic Benefits to Investors?. 2016; 4(2), 1-19.

Hyo Keun Joo and Choi, Young Mok. "Does IPO Funds Provide Differentiated Economic Benefits to Investors?" Asset Management Review 4, no.2 (2016) : 1-19.

Hyo Keun Joo; Choi, Young Mok. Does IPO Funds Provide Differentiated Economic Benefits to Investors?. Asset Management Review, 4(2), 1-19.

Hyo Keun Joo; Choi, Young Mok. Does IPO Funds Provide Differentiated Economic Benefits to Investors?. Asset Management Review. 2016; 4(2) 1-19.

Hyo Keun Joo, Choi, Young Mok. Does IPO Funds Provide Differentiated Economic Benefits to Investors?. 2016; 4(2), 1-19.

Hyo Keun Joo and Choi, Young Mok. "Does IPO Funds Provide Differentiated Economic Benefits to Investors?" Asset Management Review 4, no.2 (2016) : 1-19.