simple risk management practice that accounts for benchmarking can ameliorate the adverse effects of managerial incentives. … fund industry. This gives the manager an implicit incentive to exploit the well-documented positive fund-flows to relative-performance … performance is evaluated, when the fund's year-to-date return is sufficiently high. As her relative performance falls behind, she …

jumps, stochastic correlation and portfolio management with benchmarking. …

therefore adopt risk management practices to account for the benchmark performance. We capture this risk management … practice. In a dynamic setting, we demonstrate how a risk averse portfolio manager optimally under- or overperforms a target … therefore illustrates how investors can achieve their desired performance profile for funds under management through an …

against our data. We find that team size affects the impact of the incentive scheme upon performance. Moreover, while the …

In this paper firm level data are used to test whether competition affects productivity performance in three transition … pressure has a positive impact on firm performance in Hungary and Slovenia, but not in Romania, while in Romenia short …-run competitive pressure has a positive impact on performance. The paper also finds evidence that ownership matters. Traditional firms …

bookmaker data. We find that, after the head-coach has been replaced, teams perform better than before. However, the performance … replacement of head-coaches does not improve team performance. …

to scale, we find evidence of industry-level decreasing returns: The positive turnover-performance relation weakens when …

teams and run for an hour. This allows us not only to study the individual relationship between age and performance but also … performance goes down with age, although the speed-age gradient is rather flat. Group performance goes down with age as well, but … interestingly a counterbalancing force emerges, namely team dynamics that are driven by performance of runners who enter and leave. …

available hedge fund databases. Tracking changes to statements of historical performance recorded at different points in time … performance histories significantly and predictably underperform those that have never revised, suggesting that unreliable …

This paper addresses a lack of evidence on the impact of performance pay in the public sector by evaluating a pilot … targets, measured with varying degrees of precision. We use data from the agency’s performance management system and personnel … records plus matched labour market data. We focus on three main issues: whether performance pay matters for public service …