{"id":"https://openalex.org/W4381683007","doi":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","title":"Performance Evaluation of Mutual Funds Using Risk Return Relationship Models - An Empirical Study","display_name":"Performance Evaluation of Mutual Funds Using Risk Return Relationship Models - An Empirical Study","publication_year":2023,"publication_date":"2023-06-07","ids":{"openalex":"https://openalex.org/W4381683007","doi":"https://doi.org/10.26668/businessreview/2023.v8i6.2205"},"language":"en","primary_location":{"id":"doi:10.26668/businessreview/2023.v8i6.2205","doi":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","is_oa":true,"landing_page_url":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","pdf_url":"https://openaccessojs.com/JBReview/article/download/2205/917","source":{"id":"https://openalex.org/S2736802132","display_name":"International Journal of Professional Business Review","issn_l":"2525-3654","issn":["2525-3654"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310312390","host_organization_name":"Tutor Treinamento e Desenvolvimento","host_organization_lineage":["https://openalex.org/P4310312390"],"host_organization_lineage_names":["Tutor Treinamento e Desenvolvimento"],"type":"journal"},"license":"cc-by-nd","license_id":"https://openalex.org/licenses/cc-by-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Professional Business Review","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://openaccessojs.com/JBReview/article/download/2205/917","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5018603800","display_name":"Shekhar Sawant","orcid":"https://orcid.org/0000-0003-1136-4427","observed_orcids":["https://orcid.org/0000-0003-1136-4427"]},"institutions":[{"id":"https://openalex.org/I140887281","display_name":"Goa University","ror":"https://ror.org/030reqw53","country_code":"IN","type":"education","lineage":["https://openalex.org/I140887281"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Shekhar Sawant","raw_affiliation_strings":["College of Commerce. Research Scholar at Goa Business School , Goa University . India"],"raw_orcid":"https://orcid.org/0000-0003-1136-4427","affiliations":[{"raw_affiliation_string":"College of Commerce. Research Scholar at Goa Business School , Goa University . India","institution_ids":["https://openalex.org/I140887281"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5092238598","display_name":"Virendra Amonkar","orcid":"https://orcid.org/0000-0001-6598-0247","observed_orcids":["https://orcid.org/0000-0001-6598-0247"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Virendra Amonkar","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6598-0247","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5040016842","display_name":"Filipe Rodrigues e Melo","orcid":"https://orcid.org/0000-0002-6837-3343","observed_orcids":["https://orcid.org/0000-0002-6837-3343"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Filipe Rodrigues E Melo","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-6837-3343","affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.2225,"has_fulltext":true,"cited_by_count":7,"citation_normalized_percentile":{"value":0.8,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"8","issue":"6","first_page":"e02205","last_page":"e02205"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9937000274658203,"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":0.9937000274658203,"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/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.004399999976158142,"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/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.0005000000237487257,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/mutual-fund-performance-evaluation","display_name":"mutual fund performance evaluation","score":0.925000011920929},{"id":"https://openalex.org/keywords/risk-adjusted-performance-measures","display_name":"risk-adjusted performance measures","score":0.953000009059906},{"id":"https://openalex.org/keywords/treynor-ratio","display_name":"Treynor ratio","score":0.9139999747276306},{"id":"https://openalex.org/keywords/sharpe-ratio","display_name":"Sharpe ratio","score":0.9900000095367432},{"id":"https://openalex.org/keywords/jensen-s-alpha","display_name":"Jensen's alpha","score":0.9649999737739563},{"id":"https://openalex.org/keywords/benchmark-comparison","display_name":"benchmark comparison","score":0.7390000224113464},{"id":"https://openalex.org/keywords/india","display_name":"India","score":0.33399999141693115}],"concepts":[{"id":"https://openalex.org/C44723521","wikidata":"https://www.wikidata.org/wiki/Q746086","display_name":"Treynor ratio","level":4,"score":0.9533255100250244},{"id":"https://openalex.org/C2777064782","wikidata":"https://www.wikidata.org/wiki/Q791974","display_name":"Mutual fund","level":2,"score":0.7311067581176758},{"id":"https://openalex.org/C139938925","wikidata":"https://www.wikidata.org/wiki/Q1501898","display_name":"Sharpe ratio","level":3,"score":0.7302752137184143},{"id":"https://openalex.org/C84355842","wikidata":"https://www.wikidata.org/wiki/Q361863","display_name":"Closed-end fund","level":3,"score":0.5434690713882446},{"id":"https://openalex.org/C6243943","wikidata":"https://www.wikidata.org/wiki/Q1195348","display_name":"Index fund","level":5,"score":0.5311756730079651},{"id":"https://openalex.org/C155301685","wikidata":"https://www.wikidata.org/wiki/Q493177","display_name":"Open-end fund","level":4,"score":0.5066090822219849},{"id":"https://openalex.org/C103659442","wikidata":"https://www.wikidata.org/wiki/Q1662488","display_name":"Information ratio","level":4,"score":0.4906119406223297},{"id":"https://openalex.org/C88389905","wikidata":"https://www.wikidata.org/wiki/Q223371","display_name":"Stock market index","level":4,"score":0.44682422280311584},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.44286662340164185},{"id":"https://openalex.org/C64589626","wikidata":"https://www.wikidata.org/wiki/Q7142812","display_name":"Passive management","level":4,"score":0.4361264109611511},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.43584781885147095},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.419938325881958},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4112071692943573},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4002978205680847},{"id":"https://openalex.org/C34375142","wikidata":"https://www.wikidata.org/wiki/Q1156684","display_name":"Fund of funds","level":3,"score":0.3665968179702759},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.27895063161849976},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.2740970551967621},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.26437807083129883},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.2511342763900757},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.2326904833316803},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.07422947883605957},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.26668/businessreview/2023.v8i6.2205","doi":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","is_oa":true,"landing_page_url":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","pdf_url":"https://openaccessojs.com/JBReview/article/download/2205/917","source":{"id":"https://openalex.org/S2736802132","display_name":"International Journal of Professional Business Review","issn_l":"2525-3654","issn":["2525-3654"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310312390","host_organization_name":"Tutor Treinamento e Desenvolvimento","host_organization_lineage":["https://openalex.org/P4310312390"],"host_organization_lineage_names":["Tutor Treinamento e Desenvolvimento"],"type":"journal"},"license":"cc-by-nd","license_id":"https://openalex.org/licenses/cc-by-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Professional Business Review","raw_type":"journal-article"},{"id":"pmh:oai:dialnet.unirioja.es:ART0001606793","doi":null,"is_oa":true,"landing_page_url":"https://dialnet.unirioja.es/servlet/oaiart?codigo=8994343","pdf_url":"https://dialnet.unirioja.es/descarga/articulo/8994343.pdf","source":{"id":"https://openalex.org/S4306401293","display_name":"Dialnet (Universidad de la Rioja)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I168974976","host_organization_name":"Universidad de La Rioja","host_organization_lineage":["https://openalex.org/I168974976"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"International Journal of Professional Business Review: Int. J. Prof.Bus. Rev., ISSN 2525-3654, Vol. 8, N\u00ba. 6, 2023 (Ejemplar dedicado a: Continuous publication; e01278)","raw_type":"text (article)"},{"id":"pmh:oai:ojs2.openaccessojs.com:article/2205","doi":null,"is_oa":true,"landing_page_url":"https://openaccessojs.com/JBReview/article/view/2205","pdf_url":null,"source":{"id":"https://openalex.org/S2736802132","display_name":"International Journal of Professional Business Review","issn_l":"2525-3654","issn":["2525-3654"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310312390","host_organization_name":"Tutor Treinamento e Desenvolvimento","host_organization_lineage":["https://openalex.org/P4310312390"],"host_organization_lineage_names":["Tutor Treinamento e Desenvolvimento"],"type":"journal"},"license":"cc-by-nd","license_id":"https://openalex.org/licenses/cc-by-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"International Journal of Professional Business Review; Vol. 8 No. 6 (2023): Continuous publication; e02205","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.26668/businessreview/2023.v8i6.2205","doi":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","is_oa":true,"landing_page_url":"https://doi.org/10.26668/businessreview/2023.v8i6.2205","pdf_url":"https://openaccessojs.com/JBReview/article/download/2205/917","source":{"id":"https://openalex.org/S2736802132","display_name":"International Journal of Professional Business Review","issn_l":"2525-3654","issn":["2525-3654"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310312390","host_organization_name":"Tutor Treinamento e Desenvolvimento","host_organization_lineage":["https://openalex.org/P4310312390"],"host_organization_lineage_names":["Tutor Treinamento e Desenvolvimento"],"type":"journal"},"license":"cc-by-nd","license_id":"https://openalex.org/licenses/cc-by-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Professional Business Review","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4381683007.pdf","grobid_xml":"https://content.openalex.org/works/W4381683007.grobid-xml"},"referenced_works_count":9,"referenced_works":["https://openalex.org/W1969569609","https://openalex.org/W2034142760","https://openalex.org/W2126688217","https://openalex.org/W2555889685","https://openalex.org/W2577617777","https://openalex.org/W3122187992","https://openalex.org/W4323039610","https://openalex.org/W4323049680","https://openalex.org/W6677722472"],"related_works":["https://openalex.org/W2472767478","https://openalex.org/W2979284424","https://openalex.org/W4386074101","https://openalex.org/W2482827925","https://openalex.org/W2591453038","https://openalex.org/W2913717398","https://openalex.org/W7097401668","https://openalex.org/W2187926332","https://openalex.org/W2188348101","https://openalex.org/W2102565703"],"abstract_inverted_index":{"Purpose:":[0],"The":[1,100,145],"main":[2],"purpose":[3],"of":[4,12,23,36,90,102,139,162,167,198,209,252,257,266,317],"this":[5],"study":[6,306],"is":[7,94,223],"to":[8,39,141,164,192,330],"analyse":[9],"the":[10,49,117,134,137,147,150,160,165,178,187,207,210,218,226,229,241,258,314,332],"performance":[11,64,93,101,114,268,316],"mutual":[13,29,62,105,202,230,281,320],"funds":[14,30,106,203,231],"using":[15,110],"Risk-":[16],"Return":[17],"Relationship":[18],"Models.":[19],"Theoretical":[20],"framework:":[21],"One":[22],"India's":[24],"most":[25],"important":[26],"financial":[27,37],"intermediaries,":[28],"can":[31,284,294],"provide":[32],"a":[33,61,76,91,253,288,318],"wide":[34],"range":[35],"services":[38],"small":[40],"and":[41,52,68,84,122,130,245,280,300,328],"large":[42],"investors.":[43,98],"They":[44],"are":[45],"also":[46,95],"involved":[47],"in":[48,75,250,264,334],"country's":[50],"transformation,":[51],"their":[53,237,302],"market":[54,180],"participation":[55],"has":[56,107],"become":[57],"more":[58,286],"important.":[59],"Evaluating":[60],"fund's":[63,92],"concerns":[65],"investors,":[66],"researchers,":[67,279],"fund":[69,175,244,249,282],"managers.":[70],"It":[71,222,293],"should":[72],"be":[73],"conducted":[74],"way":[77],"that":[78,228],"helps":[79],"investors":[80,283,327],"make":[81,297],"informed":[82,298],"decisions":[83,299],"maximize":[85,301],"returns.":[86,168,303],"A":[87],"regular":[88],"evaluation":[89],"essential":[96],"for":[97],"Design/methodology/approach:":[99],"12":[103,199],"growth-oriented":[104],"been":[108],"evaluated":[109],"three":[111],"Risk":[112,143],"Adjusted":[113],"measures,":[115],"namely":[116],"Treynor":[118,125,129],"index,":[119,121],"Sharpe":[120,152,156],"Jensen":[123],"measure.":[124],"Index,":[126,153],"developed":[127,154],"by":[128,155,326],"Mazuy":[131],"(1966),":[132],"defined":[133,158],"measure":[135,170,256],"as":[136,159,261,263],"ratio":[138,148,161],"returns":[140,163,197,208,260,333],"systematic":[142],"(Beta).":[144],"higher":[146],"better":[149,235],"performance.":[151],"(1964)":[157],"variability":[166],"Jensen's":[169],"(Jensen":[171],"1968)":[172],"regresses":[173],"excess":[174,179],"return":[176],"with":[177,206],"return.":[181],"Monthly":[182],"data":[183],"was":[184],"used":[185],"during":[186,217],"period":[188],"from":[189,225,287,308],"Jan":[190],"2015":[191],"Dec":[193],"2019.":[194],"Further":[195],"monthly":[196],"diversified":[200],"Equity":[201],"were":[204],"compared":[205],"B.S.E.(":[211],"Bombay":[212],"Stock":[213],"Exchange)":[214],"national":[215],"index":[216],"same":[219],"period.":[220],"Findings:":[221],"identified":[224],"results":[227],"have":[232],"not":[233],"performed":[234],"than":[236],"benchmark":[238],"indicators":[239],"except":[240],"ICICI":[242],"Multi-asset":[243],"HDFC":[246],"mid-cap":[247],"opportunity":[248],"terms":[251,265],"non-risk":[254],"adjusted":[255],"average":[259],"well":[262],"Risk-adjusted":[267],"measures.":[269],"Research,":[270],"Practical":[271],"&":[272],"Social":[273],"implications:":[274],"Fund":[275,277],"houses,":[276],"managers,":[278],"benefit":[285],"strong":[289],"risk":[290],"management":[291],"foundation.":[292],"help":[295],"them":[296],"Originality/value:":[304],"This":[305],"differs":[307],"past":[309],"studies":[310],"because":[311],"it":[312],"examined":[313],"risk-adjusted":[315],"few":[319],"funds,":[321],"which":[322],"ultimately":[323],"may":[324],"use":[325],"policymakers":[329],"enhance":[331],"these":[335],"funds.":[336]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2023-06-23T00:00:00"}
