{"id":"https://openalex.org/W2891947633","doi":"https://doi.org/10.1093/rfs/11.1.0111","title":"Conditioning Manager Alphas on Economic Information: Another Look at the Persistence of Performance","display_name":"Conditioning Manager Alphas on Economic Information: Another Look at the Persistence of Performance","publication_year":1998,"publication_date":"1998-01-01","ids":{"openalex":"https://openalex.org/W2891947633","doi":"https://doi.org/10.1093/rfs/11.1.0111","mag":"2891947633"},"language":"en","primary_location":{"id":"doi:10.1093/rfs/11.1.0111","doi":"https://doi.org/10.1093/rfs/11.1.0111","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/11.1.0111","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5075095932","display_name":"Jon A. Christopherson","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"J. A. Christopherson","raw_affiliation_strings":["Frank Russell Company"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Frank Russell Company","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5079825598","display_name":"Wayne E. Ferson","orcid":"https://orcid.org/0000-0003-2340-0632","observed_orcids":["https://orcid.org/0000-0003-2340-0632"]},"institutions":[{"id":"https://openalex.org/I201448701","display_name":"University of Washington","ror":"https://ror.org/00cvxb145","country_code":"US","type":"education","lineage":["https://openalex.org/I201448701"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"W. E. Ferson","raw_affiliation_strings":["University of Washington"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Washington","institution_ids":["https://openalex.org/I201448701"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5078825064","display_name":"Debra A. Glassman","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I201448701","display_name":"University of Washington","ror":"https://ror.org/00cvxb145","country_code":"US","type":"education","lineage":["https://openalex.org/I201448701"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"D. A. Glassman","raw_affiliation_strings":["University of Washington"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Washington","institution_ids":["https://openalex.org/I201448701"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5079825598"],"corresponding_institution_ids":["https://openalex.org/I201448701"],"apc_list":{"value":4028,"currency":"USD","value_usd":4028},"apc_paid":null,"fwci":2.9628,"has_fulltext":false,"cited_by_count":88,"citation_normalized_percentile":{"value":0.93260669,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"11","issue":"1","first_page":"111","last_page":"142"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mutual-fund-performance","display_name":"mutual fund performance","score":0.5649999976158142},{"id":"https://openalex.org/keywords/relative-performance","display_name":"relative performance","score":0.5090000033378601},{"id":"https://openalex.org/keywords/time-varying-risk","display_name":"time-varying risk","score":0.921999990940094},{"id":"https://openalex.org/keywords/performance-persistence","display_name":"performance persistence","score":0.45500001311302185},{"id":"https://openalex.org/keywords/fund-selection","display_name":"fund selection","score":0.31700000166893005}],"concepts":[{"id":"https://openalex.org/C2781009140","wikidata":"https://www.wikidata.org/wiki/Q7170389","display_name":"Persistence (discontinuity)","level":2,"score":0.8812905550003052},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6402548551559448},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4921378493309021},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.43806952238082886},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.42482858896255493},{"id":"https://openalex.org/C18762648","wikidata":"https://www.wikidata.org/wiki/Q42213","display_name":"Work (physics)","level":2,"score":0.4197406470775604},{"id":"https://openalex.org/C2780899237","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension","level":2,"score":0.41677671670913696},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3750193417072296},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3351683020591736},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.24672240018844604},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.11214831471443176},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.06809782981872559},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C187320778","wikidata":"https://www.wikidata.org/wiki/Q1349130","display_name":"Geotechnical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1093/rfs/11.1.0111","doi":"https://doi.org/10.1093/rfs/11.1.0111","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/11.1.0111","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.4300000071525574,"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":30,"referenced_works":["https://openalex.org/W1490412332","https://openalex.org/W1573041115","https://openalex.org/W1964928758","https://openalex.org/W1992897607","https://openalex.org/W1995834279","https://openalex.org/W2006808353","https://openalex.org/W2016016405","https://openalex.org/W2016097698","https://openalex.org/W2024723898","https://openalex.org/W2028203519","https://openalex.org/W2028995298","https://openalex.org/W2038621549","https://openalex.org/W2039901356","https://openalex.org/W2054349855","https://openalex.org/W2079117710","https://openalex.org/W2091437772","https://openalex.org/W2092766542","https://openalex.org/W2108818539","https://openalex.org/W2117178635","https://openalex.org/W2130684388","https://openalex.org/W2130931348","https://openalex.org/W2140426955","https://openalex.org/W2150844521","https://openalex.org/W2165559086","https://openalex.org/W2169786125","https://openalex.org/W2170415678","https://openalex.org/W3122187992","https://openalex.org/W3123166123","https://openalex.org/W3123462387","https://openalex.org/W4248290786"],"related_works":["https://openalex.org/W2271450135","https://openalex.org/W1573924734","https://openalex.org/W2894846111","https://openalex.org/W2016334400","https://openalex.org/W7096946673","https://openalex.org/W3110369440","https://openalex.org/W2992492127","https://openalex.org/W3087939265","https://openalex.org/W4225546857","https://openalex.org/W2070312098"],"abstract_inverted_index":{"This":[0],"article":[1],"presents":[2],"evidence":[3,19],"on":[4],"persistence":[5,53],"in":[6,28],"the":[7,29,57,61],"relative":[8],"investment":[9],"performance":[10,26,34,59],"of":[11,42,60],"large,":[12],"institutional":[13],"equity":[14],"managers.":[15],"Similar":[16],"to":[17,50,55],"existing":[18],"for":[20],"mutual":[21],"funds,":[22],"we":[23],"find":[24],"persistent":[25],"concentrated":[27],"managers":[30],"with":[31],"poor":[32],"prior-period":[33],"measures.":[35],"A":[36],"conditional":[37],"approach,":[38],"using":[39],"time-varying":[40],"measures":[41],"risk":[43],"and":[44,54],"abnormal":[45],"performance,":[46],"is":[47],"better":[48],"able":[49],"detect":[51],"this":[52],"predict":[56],"future":[58],"funds":[62],"than":[63],"are":[64],"traditional":[65],"methods.":[66]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":8},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":10}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2018-09-27T00:00:00"}
