TAILIEUCHUNG - WORLD INVESTMENT REPORT 2012 Towards a New GeNeraTioN of iNvesTmeNT Policies

Thus, after buying into winning funds, investors unwittingly benefit from momentum returns on winning stocks. To test this reasoning, Sapp and Tiwari calculate abnormal performance following money f lows with and without accounting for the momentum factor, and find that inclusion of the momentum factor in the performance evaluation proce- dure eliminates outperformance of high f low funds. In addition, they show that investors are not deliberate in seeking to benefit from stock-level momentum: More popular funds do not have higher exposure to themomentumfactor at the time they are selected. Wermers (2003) further contributes to this discussion by examining fund portfolio holdings and establishing that fund managers who have recently. | UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD EMBARGO The contents of this Report must not be quoted or summarized in the print broadcast or electronic media before 5 July 2012 17 00 GMT 1 PM New York 19 00 Geneva 22 30 Delhi 02 00 - 6 July 2010 Tokyo Chapter IV of the World Investment Report on the Investment Policy Framework for Sustainable Development is exempt from the embargo __ WORLD investment REPORT TOWARDS A NEW GENERATION OF INVESTMENT POLICIES UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD __ _-WORLD investment REPORT 2012 TOWARDS A NEW GENERATION OF INVESTMENT .

• Quỹ đầu tư
• counterintuitive
• responses—we
• Simple contexts
• dynamic alternatives
• avoid micromanaging
• simple situation
• trình bày báo cáo
• tài liệu báo cáo khoa học
• báo cáo y học
• kiến thức y học
• nghiên cứu y học
• cause and effect
• catastrophic failure
• suddenly disrupted