This paper provides survey evidence on the influence of training on behavioral finance on professional fund managers …' perception and investment behavior. In particular, it examines whether 'trained' fund managers differ from the 'untrained' ones … fund managers' investment behavior, but behavioral finance approaches need to be integrated into investment processes. …

of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short …-term horizon, by a behavioural view on the market and by a somewhat lower degree of risk aversion, whereas they are like other fund …

evidence from 692 fund managers in five countries, the vast majority of whom rely on technical analysis. At a forecasting …

This paper evaluates the Morningstar mutual fund ranking system. We find that indeed higher Morningstar ratings are …

funds' operational efficiency for an oligopolistic and bank-dominated fund industry. Our results have significant … implications for the investors' fund selection process since we are able to identify potential sources of inefficiencies for the …

In this paper, we analyze economies of scale for German mutual fund complexes. Using 2002-2005 data of 41 investment … component model there is clear evidence of significant overall economies of scale. On the level of individual mutual fund … that the average mutual fund complexes in all size quartiles deviate considerably from the best practice cost frontier. …

This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly … significantly related to higher working effort but not to risk taking. They also seem to induce fund managers to rely more on … fundamental information. Findings within regions are confirmed by Trans-Atlantic evidence as US fund managers receive larger …