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Scientific paper - Original scientific paper
EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA
Economic research - Ekonomska istraživanja, 23 (2010), 4; 63-77. urn:nbn:hr:213:449355
Barbić, Tajana; Čondić -Jurkić, Iva

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Barbić, T. & Čondić Jurkić, I. (2010). EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA. Economic research - Ekonomska istraživanja, 23. (4), 63-77. Retrieved from https://urn.nsk.hr/urn:nbn:hr:213:449355

Barbić, Tajana and Iva Čondić Jurkić. "EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA." Economic research - Ekonomska istraživanja, vol. 23, no. 4, 2010, pp. 63-77. https://urn.nsk.hr/urn:nbn:hr:213:449355

Barbić, Tajana and Iva Čondić Jurkić. "EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA." Economic research - Ekonomska istraživanja 23, no. 4 (2010): 63-77. https://urn.nsk.hr/urn:nbn:hr:213:449355

Barbić, T. and Čondić Jurkić, I. (2010) 'EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA', Economic research - Ekonomska istraživanja, 23(4), pp. 63-77. Available at: https://urn.nsk.hr/urn:nbn:hr:213:449355 (Accessed 15 November 2024)

Barbić T, Čondić Jurkić I. EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA. Economic research - Ekonomska istraživanja [Internet]. 2010 December 01 [cited 2024 November 15];23(4):63-77. Available at: https://urn.nsk.hr/urn:nbn:hr:213:449355

T. Barbić and I. Čondić Jurkić, "EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA", Economic research - Ekonomska istraživanja, vol. 23, no. 4, pp. 63-77, December 2010. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:213:449355. [Accessed: 15 November 2024]

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Metadata
Title (english)EQUITY INVESTMENT STRATEGIES: THE CASE OF CROATIA
Title (croatian)STRATEGIJE ULAGANJA U VRIJEDNOSNICE: SLUČAJ HRVATSKE
AuthorTajana Barbić
MBZ: 264110
AuthorIva Čondić -Jurkić
MBZ: 264121
Author's institutionThe Institute of Economics, Zagreb
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract (english)
This paper aims to analyze an investment strategy employed by particular equity investment fund in Croatia, i.e. to detect the fraction of passive funds which claim to be active. In order to test for bilateral long-run co-movements between fifteen selected mutual funds and CROBEX in time period from their start to the end of 2009, we use bivariate Johansen cointegration procedure. Results reveal that most of the Croatian equity funds share long run comovements with benchmark equity market index, representing the "closet indexers". Obtained results are to some extent unexpected given spotted inefficiencies on Croatian equity market that should have been exploited by active stock pickers.
Abstract (croatian)
Ovaj rad analizira investicijske strategije koje koriste odabrani dionički investicijski fondovi u Hrvatskoj. S tim ciljem koristi se Johansenova kointegracijska metoda kako bi se testirala dugoročna zajednička kretanja između 15 odabranih fondova i CROBEX-a u razdoblju između osnutka pojedinog fonda i kraja 2009. godine. Rezultati analize pokazuju da većina hrvatskih dioničkih fondova replicira dugoročna kretanja tržišnog indeksa, što implicira da se radi o tzv. prikrivenim indeksnim fondovima. Uzmu li se u obzir pronađene neefikasnosti na hrvatskom tržištu kapitala i popratna motivacija fond managera da iskoriste iste, dobiveni rezultati su u određenoj mjeri neočekivani.
Keywords (english)
Keywords (croatian)
Languageenglish
Publication typeScientific paper - Original scientific paper
Publication statusPublished
Peer reviewPeer review
Publication versionPublished version
Journal titleEconomic research - Ekonomska istraživanja
Numberingvol. 23, no. 4, pp. 63-77
p-ISSN1331-677X
e-ISSN1848-9664
URN:NBNurn:nbn:hr:213:449355
Publication2010-12-01
Document URLhttp://hrcak.srce.hr/63242
Type of resourceText
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2017-11-13 10:04:38