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An empirical examination of the effectiveness of dollar-cost averaging using downside risk performance measures

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  • Karyl Leggio
  • Donald Lien

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  • Karyl Leggio & Donald Lien, 2003. "An empirical examination of the effectiveness of dollar-cost averaging using downside risk performance measures," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 27(2), pages 211-223, June.
    • Handle: RePEc:spr:jecfin:v:27:y:2003:i:2:p:211-223
    DOI: 10.1007/BF02827219
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    References listed on IDEAS

    as
    1. Leggio, Karyl B. & Lien, Donald, 2001. "Does loss aversion explain dollar-cost averaging?," Financial Services Review, Elsevier, vol. 10(1-4), pages 117-127.
    2. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    3. Knight, John R. & Mandell, Lewis, 1992. "Nobody gains from dollar cost averaging analytical, numerical and empirical results," Financial Services Review, Elsevier, vol. 2(1), pages 51-61.
    4. repec:bla:jfinan:v:53:y:1998:i:5:p:1775-1798 is not listed on IDEAS
    5. Constantinides, George M., 1979. "A Note on the Suboptimality of Dollar-Cost Averaging as an Investment Policy," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(2), pages 443-450, June.
    6. Vora, Premal P. & McGinnis, John D., 2000. "The asset allocation decision in retirement: lessons from dollar-cost averaging," Financial Services Review, Elsevier, vol. 9(1), pages 47-63, 00.
    7. Auke Plantinga & Franks Sortino & Robert van der Meer, 2004. "The impact of downside risk on risk-adjusted performance of mutual funds in the Euronext markets," Finance 0407016, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. Guillermo Badía & Vicente Pina & Lourdes Torres, 2019. "Financial Performance of Government Bond Portfolios Based on Environmental, Social and Governance Criteria," Sustainability, MDPI, vol. 11(9), pages 1-13, April.
    3. Dirk Ulbricht, 2013. "Stock Investments for Old-Age: Less Return, More Risk, and Unexpected Timing," Discussion Papers of DIW Berlin 1324, DIW Berlin, German Institute for Economic Research.
    4. Kirkby, J. Lars & Mitra, Sovan & Nguyen, Duy, 2020. "An analysis of dollar cost averaging and market timing investment strategies," European Journal of Operational Research, Elsevier, vol. 286(3), pages 1168-1186.
    5. Lee, Huai-I & Hsieh, Tsung-Yu & Kuo, Wen-Hsiu & Hsu, Hsinan, 2015. "Can a path-dependent strategy outperform a path-independent strategy?," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 119-127.
    6. Mingers, John & Parker, Kim T., 2010. "Should you stop investing in a sinking fund when it is sinking?," European Journal of Operational Research, Elsevier, vol. 207(1), pages 508-513, November.
    7. Sharma, Prateek & Vipul,, 2015. "Performance of risk-based portfolios under different market conditions: Evidence from India," Research in International Business and Finance, Elsevier, vol. 34(C), pages 397-411.

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