The ex ante efficiency of Australian Stock Market benchmarks

Ante efficiency of Australian benchmark portfolios from 1980-1996 - performance evaluation benchmarks were found to be ex ante inefficient when unrestricted short selling was allowed - when short selling was restricted, ex ante efficiency of benchmarks could not be rejected - mining, resource and pr...

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Bibliographic Details
Published inAustralian journal of management Vol. 25; no. 1; pp. 1 - 15
Main Authors Finn, Frank, Koivurinne, Timo
Format Journal Article
LanguageEnglish
Published London, England SAGE Publications 01.06.2000
Sage Publications Ltd
Subjects
Asset allocation
Benchmarks
Efficiency
Efficient markets
Hypotheses
Investment advisors
Investment policy
Investments
Performance evaluation
Portfolio performance
Securities markets
Short sales
Standard deviation
STOCK EXCHANGES
Studies
AUSTRALIA
Australia
Investment Performance Evaluation
Portfolio Efficiency
Stock Market Benchmarks
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Summary:Ante efficiency of Australian benchmark portfolios from 1980-1996 - performance evaluation benchmarks were found to be ex ante inefficient when unrestricted short selling was allowed - when short selling was restricted, ex ante efficiency of benchmarks could not be rejected - mining, resource and property sectors were not performance-enhancing additions to investment in the industrial sector - implications for performance evaluation of managed investment funds.
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2008-01-21T19:31:10+11:00
AUSTRALIAN JOURNAL OF MANAGEMENT, Vol. 25, No. 1, June 2000: 1-15
AUSTRALIAN JOURNAL OF MANAGEMENT, Vol. 25, No. 1, June 2000, 1-15
Informit, Melbourne (Vic)
ISSN:0312-8962
1327-2020
DOI:10.1177/031289620002500103