Popescu, Marius; Xu, Zhaojin - In: Managerial Finance 43 (2017) 7, pp. 828-838
Purpose The purpose of this paper is to explore the motivation behind mutual funds’ risk shifting behavior by examining …’s risk shifting is estimated as the difference between the fund’s intended portfolio risk in the second half of the year and … of incentive that fund managers face, we examine the relationship between performance and risk shifting in a cross …