Can hedge funds time global equity markets? Evidence from emerging markets

Adam L. Aiken, Osman Kilic and Sean Reid

Review of Financial Economics, 2016, vol. 29, issue 1, 2-11

Abstract: This paper examines the ability of global hedge funds to time a particularly volatile asset class — emerging market equities. In particular, we study whether or not these funds can either time emerging markets as a whole, or time their exposures to different regions. Using both pooled and calendar‐time approaches, we generally find no evidence of overall timing ability. However, we do find some evidence of period‐specific timing ability during the financial crisis and subsequent recovery.

Date: 2016
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https://doi.org/10.1016/j.rfe.2015.05.002

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Persistent link: https://EconPapers.repec.org/RePEc:wly:revfec:v:29:y:2016:i:1:p:2-11

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