@article{นิมมานเหมินท์_กันทาปัน_ภูดล_สัจจะวาที_2018, title={Market Timing Performance of Retirement Mutual Funds in Thailand by Treynor and Mazuy Model, and Henriksson and Merton Model}, volume={10}, url={https://so01.tci-thaijo.org/index.php/bahcuojs/article/view/162240}, abstractNote={<p>This applied research aims to (1) investigate market timing performance of Thai<br>retirement mutual funds from January 2013 to December 2015; (2) the correlation between<br>results from both market timing measures is also investigated. Data of 94 retirement mutual<br>funds in sample set are computed. Binomial Test and Pearson Correlation are tested as<br>inferential statistics.<br>Market timing performance results strongly indicate that fund manager’s market<br>timing ability with respect to individual fund was inferior to the market portfolio. Only 2<br>out of 94 retirement mutual funds had significant positive value for the Treynor and Mazuy<br>Model; and only 3 funds had significant positive value when the Henriksson and Merton<br>model was applied. Binomial tests strongly confirm that most retirement mutual funds<br>underperformed the market portfolio in market timing ability. Furthermore, statistical<br>evidence points to the existence of a significant positive relationship between the two<br>market timing models and thus both market timing performance models will provide similar<br>performance results.</p>}, number={2}, journal={Business Review Journal}, author={นิมมานเหมินท์ ฤทธิ์ชาติ and กันทาปัน กฤษณะ and ภูดล ศรัณย์ and สัจจะวาที ธีราลักษณ์}, year={2018}, month={Dec.}, pages={55–74} }