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of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short … managers with respect to sophistication. This is consistent with the interpretation that momentum returns may compensate for …
Persistent link: https://www.econbiz.de/10010270394
. As a practical example, the professional competition between fund managers is considered. To explore how different … evolutionary model is developed. Using a simple genetic algorithm, two attributes of virtual fund managers evolve: the share of … does not necessarily select managers with efficient portfolios. These results underline the institutional need for the …
Persistent link: https://www.econbiz.de/10010309602
of decision making? We analyze survey responses of 649 fund managers in the U.S., Germany, Italy and Thailand, and find … that female fund managers tend to behave as expected from gender studies: they are more risk averse and shy away from …
Persistent link: https://www.econbiz.de/10010264941
incentives to learn efficient behavior, i.e. fund managers. We split this group into endorsers and non-endorsers of behavioral …
Persistent link: https://www.econbiz.de/10010264942
This paper investigates dynamically optimal risk-taking by an expected-utility maximizing manager of a hedge fund. We examine the effects of variations on a compensation structure that includes a percentage management fee, a performance incentive for exceeding a specified highwater mark, and...
Persistent link: https://www.econbiz.de/10010266924
evidence from 692 fund managers in five countries, the vast majority of whom rely on technical analysis. At a forecasting …
Persistent link: https://www.econbiz.de/10010270396
We present evidence of the impact of buy-side analysts on the behavior and performance of fund managers. Using data …. Our results show that buy-side analysts have a significant influence on trading decisions: Fund managers almost certainly …
Persistent link: https://www.econbiz.de/10010302544
. As a practical example, the professional competition between fund managers is considered. To explore how different …
Persistent link: https://www.econbiz.de/10010306759
, the fund manager is often replaced. We argue that this may lead to excessive risk-taking if fund managers differ in … ability and have the opportunity to take excessive risk. To match the benchmark, fund managers may increase the risk of their …
Persistent link: https://www.econbiz.de/10010427567
The behavior of a hedge-fund manager naturally depends on her compensation scheme, her preferences, and constraints on her risk-taking. We propose a numerical method which can be used to analyze the impact of these influences. The model leads to several interesting and novel results concerning...
Persistent link: https://www.econbiz.de/10010323933