Abstract
This study analyses the performance persistence of European equity funds in Spain. The use of parametric and non-parametric methodology, the originality of the ratio used to measure performance and the fact that this represents research into a relatively unexplored market are what make this such an attractive study.
Acknowledgements
The authors would like to express their thanks to the Spanish Directorate General for Higher Education for the award of Project PB97-1003, to the Regional Government of Aragon for the award of Project P06/97, to Ibercaja for the award of Project 268-96 and to the University of Zaragoza for the award of funding through Research Projects 268-77, 268-84, 268-93 and 268-96. Any possible errors are, of course, the exclusive responsibility of the authors.