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The behavior of institutional investors: three essays

Pütz, Alexander - 2012

Persistent link: https://www.econbiz.de/10009582680

Evaluating alternative weighting schemes for stocks in a "best ideas" portfolio

Livingston, Lynda S. - In: The international journal of business and finance … 4 (2010) 2, pp. 117-136

Persistent link: https://www.econbiz.de/10003958948

Allocation of Decision Rights and the Investment Strategy of Mutual Funds

Dass, Nishant - 2015

The literature suggests that while decentralized decision-making can allow for greater specialization in an organization, it heightens the cost of coordinating decisions. The mutual fund industry – in particular, sole- and team-managed balanced funds – provides an ideal setting to test the...

Persistent link: https://www.econbiz.de/10013037065

Why Might Investors Choose Active Management?

Warren, Geoff - 2013

We investigate why investors may be willing to participate in active management, notwithstanding that the average manager is likely to generate negative alpha after fees. We model the alpha an investor expects from a dynamic strategy of investing in a portfolio of active investment managers, and...

Persistent link: https://www.econbiz.de/10013093822

Fooled by Randomness : Investor Perception of Fund Manager Skill

Heuer, Justus - 2018

Return-chasing investors almost exclusively consider top-performing funds for their investment decisions. When drawing conclusions about the managerial skill of these top performers, they tend to neglect fund volatility and the cross-sectional information contained in the number of funds and the...

Persistent link: https://www.econbiz.de/10012937786

Hedge Fund vs. Non-Hedge Fund Institutional Demand and the Book-to-Market Effect

Caglayan, Mustafa O. - 2018

Recent studies have documented that institutional investors trade contrary to the predictions of the book-to market anomaly. We examine whether a prominent sub-group of institutional investors, namely hedge funds, differ from other institutions in terms of their trading behavior with respect to...

Persistent link: https://www.econbiz.de/10012935287

Mutual Fund Flows and Fund's Strategic Behavior When Investors Are Inattentive

Javadekar, Apoorva - 2020

The paper builds on a simple yet novel idea that the way investors react to the recent mutual fund performance depends largely upon the long-term historical performance of that fund. In particular, I find that investors react more actively to the fund's recent performance in case of the funds...

Persistent link: https://www.econbiz.de/10012845901

Conditional Market Timing with Benchmark Investors

Becker, Connie - 1998

This paper tests models of mutual fund market timing that (1) allow the manager's utility function to depend on returns in excess of a benchmark; (2) distinguish timing based on lagged, publicly available information variables from timing based on finer information; and (3) simultaneously...

Persistent link: https://www.econbiz.de/10012472375

Investment Management

Avadhani, V.A. - 2009

MARKET THEORY -- PART V : RISK AND RETURN CONCEPTS AND MEASUREMENT -- RISK AND CREDIT RATING -- SECURITY MARKET INDICATORS … -- INTEREST RATES - THEORY AND STRUCTURE -- PART VI : VALUATION OF STOCKS AND BONDS -- FINANCIAL ARITHMETICS -- SECURITY PRICING … -- INVESTMENT ANALYSIS AND THEORY -- VALUATION OF BONDS - BOND MARKET -- VALUATION OF CONTINGENT CLAIMS AND OPTIONS -- PART VII …

Persistent link: https://www.econbiz.de/10012679593

Optimal allocation to private equity

Giommetti, Nicola; Sørensen, Morten - 2021

We study the asset allocation problem of an institutional investor (LP) that invests in stocks, bonds, and private equity (PE). PE investments are risky, illiquid, and long-term. The LP repeatedly commits capital to PE funds, and this capital is gradually called and eventually distributed back...

Persistent link: https://www.econbiz.de/10012584452