A State-of-the-Art Fund Performance Index: Higher-Order Omega and Its Consistency with Almost Stochastic Dominance

Round 1

Reviewer 1 Report

Comments for author File: Comments.pdf

Author Response

Please see the attached file.

Author Response File: Author Response.doc

Reviewer 2 Report

The authors provide a mathematical proof and theoretical analysis of the one-to-one consistency between higher-order Omega and Almost Stochastic Dominance rules when evaluating fund performance. It advances the applications of higher-order Omega as the Almost Stochastic Dominance rules are more likely to be observed in reality. They find that the Nth-order Omega is consistent with Nth-degree Almost Stochastic Dominance under specific conditions.

The results presented in this manuscript seem correct, and the techniques employed to solve the problems are generally standard with some novelty. However, the following points should be considered to improve the presentation of the paper:

1. Grammatical errors and some typos exist that should be checked and corrected throughout the paper.

2. The contribution should be further clarified through the significance of the proposed techniques and so forth.

3. What are the additional way in which the manuscript could be improved? A remark is suggested to be added.

4. The references seem to be not enough. Please add more recent references.

5. From the presented topics in this paper, the authors should propose some future research topics in the conclusion part.

Author Response

Please see the attached file.

Author Response File: Author Response.doc

Round 2

Reviewer 2 Report

The revised version is well revised. So, I recommend its publication