{"id":"https://openalex.org/W2218735924","doi":"https://doi.org/10.1080/01605682.2019.1612549","title":"Does active management add value? New evidence from a quantile regression approach","display_name":"Does active management add value? New evidence from a quantile regression approach","publication_year":2019,"publication_date":"2019-06-14","ids":{"openalex":"https://openalex.org/W2218735924","doi":"https://doi.org/10.1080/01605682.2019.1612549","mag":"2218735924"},"language":"en","primary_location":{"id":"doi:10.1080/01605682.2019.1612549","is_oa":false,"landing_page_url":"https://doi.org/10.1080/01605682.2019.1612549","pdf_url":null,"source":{"id":"https://openalex.org/S169988927","display_name":"Journal of the Operational Research Society","issn_l":"0160-5682","issn":["0160-5682","1476-9360"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319703","host_organization_name":"Palgrave Macmillan","host_organization_lineage":["https://openalex.org/P4310319703","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Palgrave Macmillan","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of the Operational Research Society","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://hdl.handle.net/10234/184545","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071124331","display_name":"Juan Carlos Matall\u00edn\u2010S\u00e1ez","orcid":"https://orcid.org/0000-0002-7213-4695"},"institutions":[{"id":"https://openalex.org/I10902133","display_name":"Universitat Jaume I","ror":"https://ror.org/02ws1xc11","country_code":"ES","type":"education","lineage":["https://openalex.org/I10902133"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Juan Carlos Matall\u00edn-S\u00e1ez","raw_affiliation_strings":["Department of Finance and Accounting, Universitat Jaume I, Castell\u00f3 de la Plana, Spain;"],"raw_orcid":"https://orcid.org/0000-0002-7213-4695","affiliations":[{"raw_affiliation_string":"Department of Finance and Accounting, Universitat Jaume I, Castell\u00f3 de la Plana, Spain;","institution_ids":["https://openalex.org/I10902133"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5023051704","display_name":"Amparo Soler\u2010Dom\u00ednguez","orcid":"https://orcid.org/0000-0003-0206-3657"},"institutions":[{"id":"https://openalex.org/I10902133","display_name":"Universitat Jaume I","ror":"https://ror.org/02ws1xc11","country_code":"ES","type":"education","lineage":["https://openalex.org/I10902133"]}],"countries":["ES"],"is_corresponding":true,"raw_author_name":"Amparo Soler-Dom\u00ednguez","raw_affiliation_strings":["Department of Finance and Accounting, Universitat Jaume I, Castell\u00f3 de la Plana, Spain;"],"raw_orcid":"https://orcid.org/0000-0003-0206-3657","affiliations":[{"raw_affiliation_string":"Department of Finance and Accounting, Universitat Jaume I, Castell\u00f3 de la Plana, Spain;","institution_ids":["https://openalex.org/I10902133"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5016992144","display_name":"Emili Tortosa\u2010Ausina","orcid":"https://orcid.org/0000-0002-7873-1714"},"institutions":[{"id":"https://openalex.org/I10902133","display_name":"Universitat Jaume I","ror":"https://ror.org/02ws1xc11","country_code":"ES","type":"education","lineage":["https://openalex.org/I10902133"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Emili Tortosa-Ausina","raw_affiliation_strings":["Department of Economics, Universitat Jaume I and Ivie, Castell\u00f3 de la Plana, Spain"],"raw_orcid":"https://orcid.org/0000-0002-7873-1714","affiliations":[{"raw_affiliation_string":"Department of Economics, Universitat Jaume I and Ivie, Castell\u00f3 de la Plana, Spain","institution_ids":["https://openalex.org/I10902133"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5023051704"],"corresponding_institution_ids":["https://openalex.org/I10902133"],"apc_list":null,"apc_paid":null,"fwci":1.3256,"has_fulltext":false,"cited_by_count":8,"citation_normalized_percentile":{"value":0.82459108,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"70","issue":"10","first_page":"1734","last_page":"1751"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"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"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"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/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9962999820709229,"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/quantile-regression","display_name":"Quantile regression","score":0.7536669373512268},{"id":"https://openalex.org/keywords/quantile","display_name":"Quantile","score":0.6826941967010498},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.6324998736381531},{"id":"https://openalex.org/keywords/tobit-model","display_name":"Tobit model","score":0.6173878312110901},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.48542651534080505},{"id":"https://openalex.org/keywords/estimator","display_name":"Estimator","score":0.4632360339164734},{"id":"https://openalex.org/keywords/regression-analysis","display_name":"Regression analysis","score":0.43283534049987793},{"id":"https://openalex.org/keywords/actuarial-science","display_name":"Actuarial science","score":0.43086540699005127},{"id":"https://openalex.org/keywords/order","display_name":"Order (exchange)","score":0.4207269549369812},{"id":"https://openalex.org/keywords/investment-management","display_name":"Investment management","score":0.41247376799583435},{"id":"https://openalex.org/keywords/statistics","display_name":"Statistics","score":0.24634844064712524},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.2050187885761261},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.20247229933738708},{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.1755368411540985},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.14289909601211548}],"concepts":[{"id":"https://openalex.org/C63817138","wikidata":"https://www.wikidata.org/wiki/Q3455889","display_name":"Quantile regression","level":2,"score":0.7536669373512268},{"id":"https://openalex.org/C118671147","wikidata":"https://www.wikidata.org/wiki/Q578714","display_name":"Quantile","level":2,"score":0.6826941967010498},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6324998736381531},{"id":"https://openalex.org/C166866094","wikidata":"https://www.wikidata.org/wiki/Q1307251","display_name":"Tobit model","level":2,"score":0.6173878312110901},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.48542651534080505},{"id":"https://openalex.org/C185429906","wikidata":"https://www.wikidata.org/wiki/Q1130160","display_name":"Estimator","level":2,"score":0.4632360339164734},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.43283534049987793},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.43086540699005127},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.4207269549369812},{"id":"https://openalex.org/C189188589","wikidata":"https://www.wikidata.org/wiki/Q14864997","display_name":"Investment management","level":3,"score":0.41247376799583435},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.24634844064712524},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.2050187885761261},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20247229933738708},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.1755368411540985},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.14289909601211548}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1080/01605682.2019.1612549","is_oa":false,"landing_page_url":"https://doi.org/10.1080/01605682.2019.1612549","pdf_url":null,"source":{"id":"https://openalex.org/S169988927","display_name":"Journal of the Operational Research Society","issn_l":"0160-5682","issn":["0160-5682","1476-9360"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319703","host_organization_name":"Palgrave Macmillan","host_organization_lineage":["https://openalex.org/P4310319703","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Palgrave Macmillan","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of the Operational Research Society","raw_type":"journal-article"},{"id":"pmh:oai:dnet:repositoriun::05496c5c5ee849f0586b6d920f5fa368","is_oa":true,"landing_page_url":"http://hdl.handle.net/10234/184545","pdf_url":null,"source":{"id":"https://openalex.org/S4306402641","display_name":"LA Referencia (Red Federada de Repositorios Institucionales de Publicaciones Cient\u00edficas)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I4383465926","host_organization_name":"LA Referencia","host_organization_lineage":["https://openalex.org/I4383465926"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:taf:tjorxx:v:70:y:2019:i:10:p:1734-1751","is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/01605682.2019.1612549","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:oai:dnet:repositoriun::05496c5c5ee849f0586b6d920f5fa368","is_oa":true,"landing_page_url":"http://hdl.handle.net/10234/184545","pdf_url":null,"source":{"id":"https://openalex.org/S4306402641","display_name":"LA Referencia (Red Federada de Repositorios Institucionales de Publicaciones Cient\u00edficas)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I4383465926","host_organization_name":"LA Referencia","host_organization_lineage":["https://openalex.org/I4383465926"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G1292073539","display_name":null,"funder_award_id":"PROMETEO/2018/102","funder_id":"https://openalex.org/F4320321864","funder_display_name":"Generalitat Valenciana"},{"id":"https://openalex.org/G318504138","display_name":null,"funder_award_id":"UJI-B2017-14","funder_id":"https://openalex.org/F4320322926","funder_display_name":"Universitat Jaume I"},{"id":"https://openalex.org/G3452144371","display_name":null,"funder_award_id":"ECO2017-85746-P","funder_id":"https://openalex.org/F4320321837","funder_display_name":"Ministerio de Econom\u00eda y Competitividad"},{"id":"https://openalex.org/G3901220570","display_name":null,"funder_award_id":"ECO2014-55221-P","funder_id":"https://openalex.org/F4320321837","funder_display_name":"Ministerio de Econom\u00eda y Competitividad"},{"id":"https://openalex.org/G4421948021","display_name":null,"funder_award_id":"UJI\u2010B2017\u201033","funder_id":"https://openalex.org/F4320322926","funder_display_name":"Universitat Jaume I"},{"id":"https://openalex.org/G4435369794","display_name":null,"funder_award_id":"B2017","funder_id":"https://openalex.org/F4320321837","funder_display_name":"Ministerio de Econom\u00eda y Competitividad"},{"id":"https://openalex.org/G6256672838","display_name":null,"funder_award_id":"2018-102","funder_id":"https://openalex.org/F4320321864","funder_display_name":"Generalitat Valenciana"}],"funders":[{"id":"https://openalex.org/F4320321837","display_name":"Ministerio de Econom\u00eda y Competitividad","ror":"https://ror.org/034900433"},{"id":"https://openalex.org/F4320321864","display_name":"Generalitat Valenciana","ror":"https://ror.org/0097mvx21"},{"id":"https://openalex.org/F4320322926","display_name":"Universitat Jaume I","ror":"https://ror.org/02ws1xc11"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":67,"referenced_works":["https://openalex.org/W656490128","https://openalex.org/W1482654001","https://openalex.org/W1501835916","https://openalex.org/W1510556782","https://openalex.org/W1517068791","https://openalex.org/W1577985762","https://openalex.org/W1968364796","https://openalex.org/W1970828491","https://openalex.org/W1971664195","https://openalex.org/W1981180806","https://openalex.org/W1993838315","https://openalex.org/W2013505093","https://openalex.org/W2020459309","https://openalex.org/W2024296361","https://openalex.org/W2026229198","https://openalex.org/W2027696050","https://openalex.org/W2028791988","https://openalex.org/W2048567015","https://openalex.org/W2049411361","https://openalex.org/W2070225810","https://openalex.org/W2084660657","https://openalex.org/W2106177888","https://openalex.org/W2118825750","https://openalex.org/W2125184373","https://openalex.org/W2125585375","https://openalex.org/W2126186544","https://openalex.org/W2127869407","https://openalex.org/W2130476589","https://openalex.org/W2133672025","https://openalex.org/W2136120210","https://openalex.org/W2161871149","https://openalex.org/W2162180338","https://openalex.org/W2166385492","https://openalex.org/W2169658553","https://openalex.org/W2170624625","https://openalex.org/W2172074964","https://openalex.org/W2466820749","https://openalex.org/W2473825645","https://openalex.org/W2614459388","https://openalex.org/W2896221025","https://openalex.org/W2906051489","https://openalex.org/W2921749324","https://openalex.org/W3020956865","https://openalex.org/W3121173034","https://openalex.org/W3121292919","https://openalex.org/W3121317163","https://openalex.org/W3121412182","https://openalex.org/W3122197817","https://openalex.org/W3122357788","https://openalex.org/W3122526412","https://openalex.org/W3123046671","https://openalex.org/W3123421598","https://openalex.org/W3123649118","https://openalex.org/W3123902573","https://openalex.org/W3123942211","https://openalex.org/W3124214271","https://openalex.org/W3124317553","https://openalex.org/W3124968158","https://openalex.org/W3124976280","https://openalex.org/W3125162999","https://openalex.org/W3125536500","https://openalex.org/W3125785925","https://openalex.org/W3126068521","https://openalex.org/W3126128634","https://openalex.org/W4214759866","https://openalex.org/W4239427059","https://openalex.org/W4241996101"],"related_works":["https://openalex.org/W4206511378","https://openalex.org/W4206618949","https://openalex.org/W2185047231","https://openalex.org/W4298801152","https://openalex.org/W2033046771","https://openalex.org/W1966919947","https://openalex.org/W2588275121","https://openalex.org/W2963308895","https://openalex.org/W2039131327","https://openalex.org/W2526321210"],"abstract_inverted_index":{"While":[0],"it":[1],"has":[2,22,88],"long":[3],"been":[4,23,90],"recognised":[5],"that":[6,182],"active":[7],"management":[8],"is":[9],"an":[10,40],"important":[11],"issue":[12],"in":[13,39,54,67,74,94,151],"the":[14,26,68,75,80,95,115,149,160,163,173,176],"area":[15],"of":[16,82,86,97,103,148,162,175,178],"mutual":[17,47],"fund":[18,48,131,179],"performance,":[19,180],"little":[20],"consensus":[21],"reached":[24],"about":[25],"value":[27],"managers\u2019":[28,37],"abilities":[29],"can":[30],"add.":[31],"This":[32,84],"study":[33],"examines":[34],"funds\u2019":[35],"and":[36,71,108,133,167],"characteristics":[38],"attempt":[41],"to":[42,64,78,92,105,129,135],"understand":[43],"their":[44,168],"influence":[45],"on":[46,114,172],"efficiency.":[49,83],"We":[50],"explore":[51],"these":[52],"issues":[53],"a":[55],"two-stage":[56],"approach,":[57],"considering":[58],"partial":[59],"frontier":[60],"estimators":[61],"(order-m,":[62],"order-\u03b1)":[63],"assess":[65],"performance":[66,152],"first":[69],"stage,":[70],"quantile":[72,174],"regression":[73,165],"second":[76],"stage":[77],"isolate":[79],"determinants":[81],"combination":[85],"methodologies":[87],"barely":[89],"considered":[91],"date":[93],"field":[96],"operations":[98],"research.":[99],"Our":[100,124],"findings":[101],"are":[102,155],"interest":[104],"both":[106,159],"academics":[107],"practitioners":[109],"as":[110,119,121,193],"they":[111],"shed":[112],"light":[113],"differences":[116,150],"among":[117,122,153],"funds":[118,154],"well":[120],"managers.":[123],"analysis":[125],"provides":[126],"some":[127,136,147,183],"arguments":[128],"guide":[130],"selection":[132],"points":[134],"managerial":[137],"features":[138],"investors":[139],"might":[140,186],"consider":[141],"taking":[142],"into":[143],"account.":[144],"In":[145],"addition,":[146],"rather":[156],"intricate":[157],"because":[158],"magnitude":[161],"estimated":[164],"coefficients":[166],"significance":[169],"varies":[170],"depending":[171],"distribution":[177],"suggesting":[181],"relevant":[184],"trends":[185],"be":[187],"concealed":[188],"by":[189],"conditional-mean":[190],"models":[191],"such":[192],"Tobit":[194],"or":[195],"OLS.":[196]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2020,"cited_by_count":3},{"year":2013,"cited_by_count":1}],"updated_date":"2026-08-25T07:29:55.448023","created_date":"2025-10-10T00:00:00"}
