Bonus Payments and Fund Managers’ Behavior:Trans-Atlantic Evidence

This questionnaire survey of fund managers in the United States, Germany and Switzerlanddocuments a distinctly positive influence of bonus payments on investment behavior on bothsides of the Atlantic. Higher bonus payments are significantly related to higher working effortbut not to risk taking. They also seem to induce fund managers to rely more on fundamentalinformation.[...]

MoreLess

Year of publication:	2008-12-01
Authors:	Gehrig, Thomas ; Lütje, Torben ; Menkhoff, Lukas
Institutions:	Universität <Hannover>
Subject:	Anreiz \| Bonus \| Information \| information \| Fondsmanager

Check Google Scholar |

More access options

In libraries world-wide (WorldCat)

In German libraries (KVK)

I need help

1 Introduction
2 Incentives in the fund management industry
3 Data
3.1 Questionnaire design and pretests
3.2 Participation rate and responses
4 Description of fund managers' bonus payments in three countries
5 Institutional correlates of high bonus payments
6 Bonus and working effort
7 Bonus and risk-taking
8 Bonus and fundamental investment orientation
9 Relative versus absolute performance assessment
10 Conclusions
References

Persistent link: https://www.econbiz.de/10005867397