The New Models Of Security Investment Fund Performance Evaluation And Empirical Research Of Medium-long Period Performance Evaluation Of Chinese Funds

With rapid progress of mutual funds in China, fund performance evaluation methods attract lots of attention of theory and practice fields. At present, the research on fund performance evaluation methods isn't enough in depth and system in China, which don't effectively guide healthy development of fund industry in China. The author combine Chinese securities market features and world fund performance evaluation theory, and set up some new models about fund performance evaluation which are fit for Chinese securities market and provide theoretical guide on Chinese fund evaluation works. Through detailed empirical research on long-term performance of close-ended funds and medium-term performance of open-ended funds, we can soundly understand the facts of China fund market, observe the operation of China securities market, realize the behavior and function of institution investor, and promote canonical development of China fund industry.The primary innovations include:1. Make a new summary of research papers on fund performance evaluation, which is helpful to understand the fund performance evaluation as a whole.2. Set up a new index based on positive investment risk measurement which is used to evaluate overall fund performance. The author does plenty of empirical research of overall performance of China funds with new index. The results show that its application effect is good, especially it is fit for bear market.3. Set up a new model on the performance persistence of security funds based on the regression method which is used to evaluate the performance persistence of single fund. Then the author does plenty of empirical analysis on the performance persistence of Chinese security funds with the new model. The results show that its application effect is good.4. Do detailed empirical research for long-term overall performance, stock selection and market timing and performance persistence of China close-ended funds and medium-term overall performance, stock selection and market timing and...