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Human capital efficiency and equity funds’ performance during the COVID-19 pandemic

Human capital efficiency and equity funds’ performance during the COVID-19 pandemic
Human capital efficiency and equity funds’ performance during the COVID-19 pandemic
The paper investigates the impact of human capital efficiency (HCE) on equity funds’ performance during three stages of the COVID-19 pandemic. We collected data for 799 open-ended equity funds across five EU countries and ranked them in five categories of HCE and compare their risk-adjusted performance across these categories. The results suggest that during the COVID-19 outbreak, the equity funds that were ranked higher in HCE outperformed their counterparts. We suggest that fund managers should invest in human capital to improve funds’ coping ability and resilience during periods of extreme stress.
COVID-19, Human Capital Efficiency, risk-adjusted performance
1059-0560
584-591
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889
Mirza, Nawazish
9c037ffb-1791-4e76-bae6-9fb0addd0c70
Abaidi, Jamila
f6d2c33e-33c9-4de3-8b18-d114781562d3
Hasnaoui, Amir
31fa5a0d-5126-4587-bed3-50c851e1266d
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889
Mirza, Nawazish
9c037ffb-1791-4e76-bae6-9fb0addd0c70
Abaidi, Jamila
f6d2c33e-33c9-4de3-8b18-d114781562d3
Hasnaoui, Amir
31fa5a0d-5126-4587-bed3-50c851e1266d

Yarovaya, Larisa, Mirza, Nawazish, Abaidi, Jamila and Hasnaoui, Amir (2021) Human capital efficiency and equity funds’ performance during the COVID-19 pandemic. International Review of Economics and Finance, 71, 584-591.

Record type: Article

Abstract

The paper investigates the impact of human capital efficiency (HCE) on equity funds’ performance during three stages of the COVID-19 pandemic. We collected data for 799 open-ended equity funds across five EU countries and ranked them in five categories of HCE and compare their risk-adjusted performance across these categories. The results suggest that during the COVID-19 outbreak, the equity funds that were ranked higher in HCE outperformed their counterparts. We suggest that fund managers should invest in human capital to improve funds’ coping ability and resilience during periods of extreme stress.

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HCE and Equity Funds Performance - Accepted Manuscript
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More information

Accepted/In Press date: 18 September 2020
e-pub ahead of print date: 25 September 2020
Published date: January 2021
Keywords: COVID-19, Human Capital Efficiency, risk-adjusted performance

Identifiers

Local EPrints ID: 444848
URI: http://eprints.soton.ac.uk/id/eprint/444848
ISSN: 1059-0560
PURE UUID: e2a503d2-235a-4bd9-a890-d499aa673dd4
ORCID for Larisa Yarovaya: ORCID iD orcid.org/0000-0002-9638-2917

Catalogue record

Date deposited: 06 Nov 2020 17:32
Last modified: 28 Apr 2022 04:23

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Contributors

Author: Larisa Yarovaya ORCID iD
Author: Nawazish Mirza
Author: Jamila Abaidi
Author: Amir Hasnaoui

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