Managerial behavior in fund tournaments—the impact of TrueSkill

Measuring mutual fund managers' skills by Microsoft's TrueSkill algorithm, we find highly skilled managers to behave self-confident resulting in higher risk-taking in the second half of the year compared to less skilled managers. Introducing the TrueSkill algorithm, which is widely used in the e-sports community, to this branch of literature, we can replicate previous findings and theories suggesting overconfidence for mid-years winners.

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Year of publication:	2021
Authors:	Swade, Alexander ; Köchling, Gerrit ; Posch, Peter N.
Published in:	Journal of Asset Management. - London : Palgrave Macmillan UK, ISSN 1479-179X. - Vol. 22.2021, 1, p. 62-75
Publisher:	London : Palgrave Macmillan UK
Subject:	Fund tournament \| Skill \| Risk-shifting \| TrueSkill \| Bayesian network

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1057/s41260-020-00198-7 [DOI]
Classification:	G11 - Portfolio Choice ; G23 - Pension Funds; Other Private Financial Institutions ; g40
Source:	EconStor

Persistent link: https://www.econbiz.de/10014501752