| ABSTRACT | 第6-7页 |
| 摘要 | 第8-16页 |
| CHAPTER 1 INTRODUCTION | 第16-25页 |
| 1.1 Background of the Study | 第16-20页 |
| 1.2 Research Problem Statement | 第20-21页 |
| 1.3 Research Aim and Objectives | 第21页 |
| 1.4 Research Questions | 第21页 |
| 1.5 Significance of the Study | 第21-23页 |
| 1.6 Innovativeness of the Study | 第23页 |
| 1.7 Organization of the Study | 第23-25页 |
| CHAPTER 2 LITERATURE REVIEW | 第25-58页 |
| 2.0 Introduction | 第25页 |
| 2.1 Overview of Mutual Funds Performance Measures | 第25-39页 |
| 2.1.1 Evolution of Performance Measures | 第25-29页 |
| 2.1.2 Determinants of Performance | 第29-39页 |
| 2.2 Mutual Fund Performance Measure Approaches | 第39-46页 |
| 2.2.1 Non-Regression Approaches | 第39-43页 |
| 2.2.2 Regression-Based Approaches | 第43-46页 |
| 2.3 Performance Persistence | 第46-50页 |
| 2.4 Active Managers/Management-Value Added by Active Management | 第50-54页 |
| 2.5 Benchmarking | 第54-58页 |
| CHAPTER 3 STATUS AND INSTITUTIONAL BACKGROUNDS | 第58-80页 |
| 3.1 Overview of the Ghana Stock Exchange | 第58-61页 |
| 3.1.1 Ghana Stock Exchange (GSE) Recent Developments | 第59-60页 |
| 3.1.2 Challenges of the Exchange | 第60-61页 |
| 3.2 Overview of Collective Investment Schemes in Ghana | 第61-62页 |
| 3.3 Overview of Ghana’s Mutual Funds Industry | 第62-63页 |
| 3.4 Types of Mutual Funds in Ghana | 第63-66页 |
| 3.5 Challenges in Ghana’s Mutual Funds Industry | 第66-68页 |
| 3.6 Mutual Funds in the Developing Markets | 第68-80页 |
| 3.6.1 Overview of the Mutual Fund Industry in Developing Markets | 第68-69页 |
| 3.6.2 Liquidity and Investability in Developing Markets | 第69-72页 |
| 3.6.3 Characteristics and Performance of Mutual Funds in Developing Market | 第72-77页 |
| 3.6.4 Managerial Skills and Ability in Developing Markets | 第77-78页 |
| 3.6.5 Developing Markets Conclusions | 第78-80页 |
| CHAPTER 4 RESEARCH METHODOLOGY | 第80-93页 |
| 4.1 Research Design | 第80-81页 |
| 4.2 Data-Collection Method | 第81页 |
| 4.3 Data Analysis and Statistical Tools | 第81-82页 |
| 4.4 Sampling Method | 第82-83页 |
| 4.5 Thesis Framework | 第83页 |
| 4.6 Hypotheses Development | 第83-85页 |
| 4.7 Research Model Specification | 第85-93页 |
| 4.7.1 Jensen Alpha | 第85-86页 |
| 4.7.2 Coefficient of Determination (R-Square) | 第86页 |
| 4.7.3 Arithmetic Average | 第86-87页 |
| 4.7.4 Sharpe and Treynor’s Indices | 第87-89页 |
| 4.7.5 Returns | 第89-90页 |
| 4.7.6 Tax Burden | 第90页 |
| 4.7.7 The Performance Characteristic Equation | 第90-91页 |
| 4.7.8 The Benchmark Error | 第91-93页 |
| CHAPTER 5 EVALUATION OF THE MUTUAL FUND PERFORMANCE MEASURES | 第93-133页 |
| 5.1 Mutual Fund Performance Measurement Using Sharpe and Treynor’s Index | 第93-107页 |
| 5.1.1 Introduction | 第93-94页 |
| 5.1.2 Related Literatures | 第94-97页 |
| 5.1.3 Materials and Model Specification | 第97-101页 |
| 5.1.4 Data Analysis | 第101-107页 |
| 5.1.5 Conclusion | 第107页 |
| 5.2 Mutual Fund Performance Using Jensen Alpha | 第107-116页 |
| 5.2.1 Introduction | 第108页 |
| 5.2.2 Literature Review | 第108-111页 |
| 5.2.3 Methodology | 第111-113页 |
| 5.2.4 Data Analysis | 第113-116页 |
| 5.2.5 Conclusion | 第116页 |
| 5.3 Ranking Based on Different Performance Measures | 第116-118页 |
| 5.4 Evaluation of Mutual Fund Performance Using Fast Adaptive Neural Network and Backpropagation Neural Network | 第118-131页 |
| 5.4.1 Introduction | 第119-123页 |
| 5.4.2 Materials and Methods | 第123-129页 |
| 5.4.3 Results | 第129-131页 |
| 5.4.4 Conclusion | 第131页 |
| 5.5 Conclusion of Mutual Funds Performance Evaluation Measures | 第131-133页 |
| CHAPTER 6 EFFECTS OF FUND CHARACTERISTICS ON MUTUAL FUND PERFORMANCE | 第133-145页 |
| 6.0 Introduction | 第133-134页 |
| 6.1 Literature Review | 第134-136页 |
| 6.2 Methodology and Model Specifications | 第136-140页 |
| 6.3 Data Analysis | 第140-142页 |
| 6.4 Conclusion | 第142-145页 |
| CHAPTER 7 TAX-ADVANTAGE POLICIES WHICH AFFECTS MUTUAL FUND PERFORMANCE | 第145-154页 |
| 7.0 Introduction | 第145-147页 |
| 7.1 Literature Review | 第147页 |
| 7.2 Methodology and Data | 第147-148页 |
| 7.3 Model Specifications | 第148-150页 |
| 7.4 Results | 第150-153页 |
| 7.5 Conclusion | 第153-154页 |
| CHAPTER 8 CONCLUSIONS | 第154-159页 |
| 8.0 Introduction | 第154页 |
| 8.1 Key Findings of the Study | 第154-157页 |
| 8.1.1 Analysis of average returns on mutual fund performance relative to the benchmark | 第154页 |
| 8.1.2 Rewards for volatility and variability provided by mutual fund in the Ghana Market | 第154-155页 |
| 8.1.3 Mutual fund characteristics and its effects on fund performance | 第155-156页 |
| 8.1.4 Tax deferred strategies adopted for long term savings | 第156页 |
| 8.1.5 Mutual fund performance evaluation using FANNC and BPNN | 第156-157页 |
| 8.2 Conclusions and Suggestions for Further Research | 第157-159页 |
| REFERENCES | 第159-168页 |
| PUBLICATIONS | 第168页 |
| ACKNOWLEDGEMENT | 第168-169页 |
