Paper on evaluating mutual funds earns national awardJuly 23, 2008 KALAMAZOO--A paper by three Western Michigan University business professors has been named a winner in the 2008 Emerald Literati Network Awards for Excellence. The paper, titled "Evaluating Large U.S.-based Equity Mutual Funds Using Risk-Adjusted Measures," was written by Drs. Onur Arugaslan, associate professor of finance and commercial law, Ed Edwards, professor emeritus of finance and commercial law and former interim dean of the Haworth College of Business, and Ajay Samant, associate college dean. The paper was one of three taking honors for Highly Commended Paper. The article was published in the International Journal of Commerce and Management in 2007 and was chosen by the journal's editorial team of eminent academics or managers for the award. The editorial team selected the article because it is "one of the most impressive pieces of work the team has seen throughout 2007." The article evaluates the performance of the 20 largest U.S.-based mutual funds from 1995 to 2004, using risk-adjusted returns. According to Arugaslan, the team used a new risk-adjusted performance measure to evaluate these equity funds, as well as a variation of the Sortino Ratio, which is used to account for downside risk. The study's empirical evidence can be used as selection criteria by investors who are looking at participating in the stock market using large mutual funds, Arugaslan says. The Emerald Literati Network Awards for Excellence recognize the efforts of authors and editors and celebrate the outstanding contributions many have made, not only to journals, but also to the body of knowledge itself. This is the second Emerald Literati Network Award Arugaslan has won. He won his first award in 2006. Media contact: Mark Schwerin, (269) 387-8400, mark.schwerin@wmich.edu WMU News |