We present evidence of the impact of buy-side analysts on the behavior and performanceof fund managers. Using data ….Our results show that buy-side analysts have a significant influence on tradingdecisions: Fund managers almost certainly follow …

the group shift theory and support thediversification of opinions theory: extreme opinions of single team managers average … investment styles and their portfolios are less industry concentrated than those ofsingle managers and that teams are eventually …

We examine overconfidence among equity mutual fund managers. While overconfidencehas been extensively documented among … retail investors, evidence fromprofessional investors is scarce. Consistent with theories of overconfidence, we findthat fund … managers trade more after good past performance. The higher trading activityafter good performance is driven by individual …

This paper introduces two measures to investigate potential window-dressing behavior amongmutual fund managers. We show … that unskilled managers that perform poorly are more likely towindow dress by strategically purchasing winner stocks and … managers up to 60 days’ delay toreport end of quarter portfolio holdings. We show how window-dressing managers can benefitfrom …

practices. When funds experienceoutflows and are managed by teams of portfolio managers they are more susceptible to …