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Cited by 1,090

The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.

On the Industry Concentration of Actively Managed Equity Mutual Funds

KACPERCZYK, MARCIN, SIALM, CLEMENS, ZHENG, LU·2005·The Journal of Finance
DOI 10.1111/j.1540-6261.2005.00785.x
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Abstract

Mutual fund managers may decide to deviate from a well‐diversified portfolio and concentrate their holdings in industries where they have informational advantages. In this paper, we study the relation between the industry concentration and the performance of actively managed U.S. mutual funds from 1984 to 1999. Our results indicate that, on average, more concentrated funds perform better after controlling for risk and style differences using various performance measures. This finding suggests that investment ability is more evident among managers who hold portfolios concentrated in a few industries.

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Crossref · 10.1111/j.1540-6261.2005.00785.x

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Metadata

Authors
KACPERCZYK, M., SIALM, C., & ZHENG, L.
Venue
The Journal of Finance
Publisher
Wiley
Published
2005-08
Volume
60
Issue
4
Pages
1983-2011
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2005.00785.x
OpenAlex
W3122935760
Cited by
1,090
References
8
FWCI
40.32
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: On the Industry Concentration of Actively Managed Equity Mutual Funds. https://app.cochat.ai/papers/10.1111/j.1540-6261.2005.00785.x
The paper
KACPERCZYK, M., SIALM, C., & ZHENG, L. (2005). On the Industry Concentration of Actively Managed Equity Mutual Funds. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2005.00785.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.