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Till death (or divorce) do us part : early-life family disruption and fund manager behavior
Betzer, André; Limbach, Peter; Rau, P. Raghavendra; … - 2019
We show a long-lasting association between a common societal phenomenon, early-life family disruption, and investment …
Persistent link: https://www.econbiz.de/10012123271
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Till death (or divorce) do us part : early-life family disruption and fund manager behavior
Betzer, André; Limbach, Peter; Rau, P. Raghavendra; … - 2019
We show that early-life family disruption (death or divorce of a parent) causes fund managers to be more risk averse …-treated managers. This effect is most pronounced for managers who experienced family disruption during their formative years or who had …
Persistent link: https://www.econbiz.de/10011989092
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Birth order and fund manager's trading behavior : role of sibling rivalry
Agarwal, Vikas; Cochardt, Alexander Elmar; Orlov, Vitaly - 2022
This paper investigates the role of birth order on managerial behavior using rich data on familial background of US mutual fund managers. We find that managers who are born later in the sibling hierarchy take on more investment risks relative to first-born managers, but perform worse. Motivated...
Persistent link: https://www.econbiz.de/10013466616
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Mutual fund investment horizon and performance
Lan, Chunhua; Moneta, Fabio; Wermers, Russ - 2015
This paper proposes several new holdings-based measures of fund investment horizon, and examines the relation between manager skills and fund holding horizon. We find that both aggregate holdings and trades of long-horizon funds are informative about superior future long-term stock returns,...
Persistent link: https://www.econbiz.de/10011307799
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Is a team different from the sum of its parts? : evidence from mutual fund managers
Bär, Michaela; Kempf, Alexander; Ruenzi, Stefan - 2005
family characteristics as well as manager characteristics. Additionally, teams exhibit a lower active share and lower risk …
Persistent link: https://www.econbiz.de/10009524811
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Mutual fund flows, expected returns, and the real economy
Jank, Stephan - 2011 - First draft: December 4, 2010, This draft: February 7, 2011
The paper explores whether the co-movement of market returns and equity fund flows can be explained by a common response to macroeconomic news. I find that variables that predict the real economy as well as the equity premium are related to mutual fund flows. Changes in dividend-price ratio...
Persistent link: https://www.econbiz.de/10008902922
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Performance inconsistency in mutual funds : an investigation of window-dressing behavior
Agarwal, Vikas; Gay, Gerald D.; Ling, Leng - 2012 - First Version: March 31, 2011, This version: February 7, 2012
This paper develops two measures of performance inconsistency based on information derived from funds' actual performance and their disclosed portfolio holdings. Using these measures, we show that funds with unskilled managers and poor performance are associated with greater inconsistency....
Persistent link: https://www.econbiz.de/10009705456
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Family matters : ranking within fund families and fund inflows
Kempf, Alexander; Ruenzi, Stefan - 2004
This paper examines the influence of the position of a fund within its family on its subsequent net-inflows. Our … empirical study of the US equity mutual fund market shows that reaching a top position within the family leads to large inflows … moves into the top positions within its family from one year to another. These results lead to competition within the fund …
Persistent link: https://www.econbiz.de/10009524827
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Choosing two business degrees versus choosing one : what does it tell about mutual fund managers' investment behavior?
Andreu, Laura; Pütz, Alexander - 2015 - [Rev.]
’s skill, the fund family’s investment policy, or by the respective education contents of the MBA and the CFA program. …
Persistent link: https://www.econbiz.de/10011376173
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Do generalists profit from the fund families' specialists? : evidence from mutual fund families offering sector funds
Göricke, M.-A. - 2016 - This draft: December 2016
This paper analyzes how the existence of sector funds (specialists) within a mutual fund family affects the performance …. Generally, stocks held by specialists appear in more diversified funds of the family than other stocks. As a result, diversified …
Persistent link: https://www.econbiz.de/10011568235