To Be Good or To Be Better:Asset Managers' Attitudes Towards Herding

Based on a questionnaire survey the paper distinguishes between herdingasset managers who try to be good and non-herding asset managers who try to bebetter than their competitors. It provides evidence for reputational herding anddiscusses herding managers' working effort, preferred sources of information andinvestment horizon. Additionally, their risk taking behavior including their investmentbehavior in short-term tournament scenarios is analyzed.[...]

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Year of publication:	2004-05-01
Authors:	Lütje, Torben
Institutions:	Universität <Hannover> / Wirtschaftswissenschaftliche Fakultät
Subject:	Risikoaversion \| Investor \| Institution \| Hypothese

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1. Introduction
2. Survey methodology and design
3. Survey findings on reputational herding
4. Herding managers' working effort, preferred source of information andinvestment horizon
4.1 Herd behavior and working effort
4.2 Herd behavior and use of information
4.3 Herd behavior and investment horizon
5. Herding managers' risk taking behavior
5.1 Herd behavior and risk aversion
5.2 Herd behavior and biased risk-taking behavior
5.3 Herd behavior in the tournament
6. Conclusions
References

Persistent link: https://www.econbiz.de/10005867637